The Sydney Opera House Sydney, New South Wales, Australia.
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Asia-Pacific markets opened higher Thursday, after Wall Street gained as Fed rate-cut hopes grew and tech stocks rebounded.
Japan’s benchmark Nikkei 225 index rose 0.85%, and the Topix index added 0.64%. Artificial intelligence-related stocks rallied on the index, including Advantest, which jumped over 4%, tech conglomerate SoftBank, which soared more than 5%, and Tokyo Electron, which was up 2.09%.
South Korea’s Kospi advanced 1.05%, while the small-cap Kosdaq climbed 0.39%.
Australia’s ASX/S&P 200 rose 0.42%.
Futures for Hong Kong’s Hang Seng Index pointed to a flat open, trading at 25,924, against the index’s previous close of 25,928.08.
Investors will be watching for South Korea’s interest rate decision later — expected to remain unchanged at 2.5% according to a Reuters poll — and for China’s industrial profits for the first 10 months of the year.
Overnight, the key indexes in the U.S. logged four straight days of gains on rising hopes for a Federal Reserve interest rate cut in December. Investors see an 85% chance of a quarter-percentage-point rate cut in December, up from 30% last week, according to the CME FedWatch tool.
Shares of artificial intelligence player Oracle jumped more than 4% on Wednesday, boosting major averages after Deutsche Bank reaffirmed its bullish stance on the name.
On Wednesday stateside, the Dow Jones Industrial Average gained 314.67 points, or 0.67%, to finish at 47,427.12. The S&P 500 climbed 0.69% to settle at 6,812.61, while the Nasdaq Composite increased 0.82% to close at 23,214.69.
— CNBC’s Sean Conlon and Pia Singh contributed to this report.
