Investing.com - Asian stocks soared during Thursday’s session as U.S. policymakers reached an agreement to reopen the government and avoid a sovereign debt catastrophe by extending the debt ceiling.
In Asian trading Thursday, Japan’s Nikkei 225 jumped 1.07% even as USD/JPY traded lower. Utilities and automakers were among the leaders during the Japanese session. The broader Topix gained 1% as Japanese stocks participated in the U.S.-induced rally.
Hong Kong’s Hang Seng rose 0.23% while the Shanghai Compose added 0.50%. Marquee data points from the world’s second-larges economy are due out Friday, including a reading of third-quarter GDP and September industrial production.
The GDP reading is expected to be 7.8% while industrial production is expected to show growth of 10.2% after rising 10.4% in August.
Foreign direct investment in China climbed 4.9% in September after a gain of just 0.6% in the prior month, according to government data released earlier Thursday.
Australia’s S&P/ASX 200 Index gained 0.2%. Traders see reduced probability that Australia will see another interest rate decrease in the near-term.
ANZ bank had previously expected RBA could cut rates by another 25 basis points between now and February 2014. However, the bank expects RBA will stand pat with eye toward raising rates in 2015 and a target of 4% by the first half of 2016.
New Zealand’s NZSE 50 added 0.36%. U.S. policymakers passed a bill that will fund the federal government through Jan. 15 and extend the government’s borrowing power, known as the debt ceiling, through Feb. 7, NBC News reported.
South Korea’s Kospi added 0.34% while Singapore’s Straits Times Index advanced 0.81%. S&P 500 futures fell 0.09% a day after the benchmark U.S. index jumped 1.38%.
In Asian trading Thursday, Japan’s Nikkei 225 jumped 1.07% even as USD/JPY traded lower. Utilities and automakers were among the leaders during the Japanese session. The broader Topix gained 1% as Japanese stocks participated in the U.S.-induced rally.
Hong Kong’s Hang Seng rose 0.23% while the Shanghai Compose added 0.50%. Marquee data points from the world’s second-larges economy are due out Friday, including a reading of third-quarter GDP and September industrial production.
The GDP reading is expected to be 7.8% while industrial production is expected to show growth of 10.2% after rising 10.4% in August.
Foreign direct investment in China climbed 4.9% in September after a gain of just 0.6% in the prior month, according to government data released earlier Thursday.
Australia’s S&P/ASX 200 Index gained 0.2%. Traders see reduced probability that Australia will see another interest rate decrease in the near-term.
ANZ bank had previously expected RBA could cut rates by another 25 basis points between now and February 2014. However, the bank expects RBA will stand pat with eye toward raising rates in 2015 and a target of 4% by the first half of 2016.
New Zealand’s NZSE 50 added 0.36%. U.S. policymakers passed a bill that will fund the federal government through Jan. 15 and extend the government’s borrowing power, known as the debt ceiling, through Feb. 7, NBC News reported.
South Korea’s Kospi added 0.34% while Singapore’s Straits Times Index advanced 0.81%. S&P 500 futures fell 0.09% a day after the benchmark U.S. index jumped 1.38%.