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☆ Australia hits new highs after Powell signals possible rate cut in September; Nikkei tumbles over 2%
▼ + stars: | 2024-08-01 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Top view of Seoul in the morning in autumn 2016. Asia-Pacific markets largely rose on Thursday, after comments from U.S. Federal Reserve Chair Jerome Powell indicated that a rate cut could come in September if inflation data remains "encouraging." This comes after the Fed's Federal Open Market Committee meeting concluded Wednesday, where it opted to hold the federal funds rate at its current level of 5.25% to 5.5%. Powell cautioned that a rate cut is not guaranteed, though he also seemed to rule out a 50-basis-point reduction. "I don't want to be really specific about what we're going to do, but that's not something we're thinking about right now," he said.

Persons: Jerome Powell, Powell Organizations: U.S . Federal, Investors Locations: Seoul, Asia, Pacific, U.S, China, Japan, South Korea

☆ Bank of Japan raises benchmark interest rate, outlines roadmap for trimming bond buying program
▼ + stars: | 2024-07-31 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

The Bank of Japan headquarters (top C) is seen in Tokyo on December 19, 2023. Japan's central bank has raised its benchmark interest rate to "around 0.25%" from it previous range of 0% to 0.1% and outlined its plan to taper its bond buying program. The BOJ said it will continue to raise the policy interest rate and adjust the degree of monetary accommodation, assuming its economic outlook is realized. As of its March release, the bank said that purchases of JGB's amounted to about 6 trillion yen per month. The BOJ's JGB holdings currently stand at a whopping 579 trillion yen as of July 19, according to CNBC's calculations.

Organizations: Bank of Japan, The Bank of Japan Locations: Tokyo, Japan's

☆ Asia markets are mixed ahead of Bank of Japan rate decision, China business activity data
▼ + stars: | 2024-07-31 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Bank of Japan Governor Kazuo Ueda delivers a speech at the start of issuance of new yen banknotes at the Bank of Japan headquarters in Tokyo on July 3, 2024. Asia-Pacific markets were mixed on Wednesday as investors awaited the Bank of Japan's rate decision and China's business activity data. Economists polled by Reuters expecting the bank to raise rates to 0.1%, though other analysts are expecting a larger hike. The BOJ's benchmark interest rate currently is in a range of 0% to 0.1%. Should the bank raise rates, this will mark the first time since 2010 that its benchmark interest rate stands firmly at 0.1% or higher.

Persons: Kazuo Ueda Organizations: Japan, Bank of Japan, Bank of, Reuters, Reserve Bank Locations: Tokyo, Asia, Pacific

☆ Asia-Pacific markets slide as the Bank of Japan begins two-day meeting
▼ + stars: | 2024-07-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A pedestrian walks past the Bank of Japan (BoJ) building in central Tokyo on July 28, 2023. Asia-Pacific markets fell across the region on Tuesday as the Bank of Japan kicks off its two-day monetary policy meeting. When the meeting concludes Wednesday, the BOJ is expected to raise its benchmark interest rate and trim its Japanese government bond purchases. Economists polled by Reuters expect the BOJ to increase its benchmark interest rate to 0.1%, up from the current range of 0% to 0.1%. Japan's unemployment rate came in slightly lower than expected in July, at 2.5% compared to the 2.6% forecast by a Reuters poll of economists.

Organizations: Bank of Japan, Reuters, Nikkei Locations: Tokyo, Asia, Pacific

☆ Japan's central bank starts its monetary policy meeting today. Here's what's in focus
▼ + stars: | 2024-07-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Javier Ghersi | Moment | Getty ImagesJapan's central bank kicks off its July monetary policy meeting on Tuesday, with traders focused on its decision on interest rate and government bond purchases. Economists polled by Reuters expect the BOJ to increase its benchmark interest rate to 0.1% from the current range of 0% to 0.1%. BOJ Governor Kazuo Ueda said in June that the central bank could raise rates "depending on economic, price and financial data and information available at the time," Reuters reported. "Our decision on bond-buying taper and interest rate hikes are two different things," Ueda told the country's parliament. The headline inflation rate has been above the BOJ's 2% target for more than two years.

Persons: Javier Ghersi, Kazuo Ueda, Ueda, Bond Organizations: Bank of, Reuters, ING, Bank of America, realty, Bank of Japan, Japanese Trade Union Confederation Locations: Japan, Bank of Japan

☆ Japan's Nikkei jumps 2% to lead gains in Asia as traders assess U.S. inflation data, await BOJ meeting
▼ + stars: | 2024-07-29 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets climbed on Monday, with Japan's Nikkei 225 leading gains in the region after a key U.S. inflation report late last Friday raised hopes for an interest rate cut. The Nikkei rose 2.02%, while the broad-based Topix was up 1.52%. In Asia, the highlight for this week will be the Bank of Japan's monetary policy meeting starting July 30. A Reuters poll of economists expects the central bank to raise rates by 10 basis points to 0.1%. Other key inflation data from the region include China's July PMI data, while Australia will release its latest set of inflation data before the central bank's Aug. 6 monetary policy meeting.

Persons: Topix, Dow Jones Organizations: Mount Fuji, Japan's Nikkei, Nikkei, Bank, ING Locations: Asia, Pacific, U.S, Australia

☆ Multi-agent systems are the next big thing in AI. Here's why VCs at NEA, Mayfield Fund, and Foundation Capital are excited.
▼ + stars: | 2024-07-29 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +6 min

Startups are building AI agents that collaborate to fill out forms, dial customer service reps, and order food delivery. These "multi-agent systems" are the next hot thing, according to investors from NEA, Mayfield Fund, and Foundation Capital. Multi-agent systems are distributed systems of multiple specialized AI agents that work together toward a collective goal. AdvertisementIn contrast, multi-agent systems are built on top of LLMs and are designed to execute a task from start to finish. AdvertisementMayfield Fund's Navin Chaddha is optimistic — AI agents will serve as teammates to workers.

Persons: —, Spike Jonze's, that's, OpenAI's, NEA's Madison Faulkner, Devin, Warren Hui, Nitta, Satya Nitta, Ashpreet Bedi, Faulkner, Mayfield Fund's Navin Chaddha, …, It's Organizations: Service, NEA, Mayfield Fund, Foundation Capital, Business, Soul Ventures, Nvidia Locations: Italy, PitchBook, Japan

☆ Asia-Pacific markets mixed after sell-off as investors assess Tokyo CPI, await U.S. inflation data
▼ + stars: | 2024-07-26 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets were mixed on Friday after Thursday's sell-off saw some indexes in the region hit their lowest level in months. "There's a changing of the guard happening on Wall Street. In Asia, traders assessed July inflation data out of Japan's capital city of Tokyo, which is widely considered a leading indicator of nationwide trends. Tokyo's headline inflation slowed slightly to 2.2% in July from 2.3% in May, while its core inflation rate — which strips out prices of fresh food — remained unchanged at 2.2%, in line with expectations. The so called "core-core" inflation rate, which strips out prices of fresh food and energy and is watched by the Bank of Japan, fell to 1.5% from 1.8%.

Persons: Thursday's, Adam Sarhan Organizations: Nasdaq, Dow Jones, Investments, Bank of Japan, greenback Locations: Asia, Pacific, Tokyo

☆ Japan's Nikkei tumbles more than 2% as Asia-Pacific markets fall, tracking Wall Street sell-off
▼ + stars: | 2024-07-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets saw a sell off on Thursday, tracking losses on Wall Street as the S&P 500 and Nasdaq Composite saw their worst days since 2022. The broad market index lost 2.31%, closing at 5,427.13, while the tech-heavy Nasdaq slid 3.64% to end at 17,342.41. Meanwhile, Tesla shares declined 12.3% — their worst day since 2020 — on weaker-than-expected results and a 7% year-over-year drop in auto revenue. Over in Asia, investors will assess South Korea's advance second-quarter GDP numbers, which came in slightly below expectations. South Korea's GDP grew 2.3% year on year, lower than the 2.5% expected by economists polled by Reuters.

Persons: — Organizations: Nasdaq, Dow Jones, Tech, Nvidia, Meta, Reuters Locations: Seoul . Asia, Pacific, Asia

☆ Asia markets open lower as traders assess Aussie business activity data, U.S. tech earnings
▼ + stars: | 2024-07-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets fell on Wednesday as traders assessed July business activity data from Australia, tech earnings from the U.S. and awaited Japan PMI readings. Late Tuesday, automaker Toyota said it will buyback 806.85 billion yen ($5.17 billion) of its shares from major Japanese banks and insurers, including Tokio Marine , Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group . Heavyweight Samsung Electronics plunged 1.8%, even as Reuters reported that chip giant Nvidia had cleared its chips for use in a processor for the China market. The South Korean electronics company is still grappling with a strike from its largest workers union, with talks on Tuesday yielding no results, according to the National Samsung Electronics Union, which has about 30,000 members. Hong Kong Hang Seng index futures were at 17,474, just marginally higher than the HSI's last close of 17,469.36.

Persons: Topix, Australia's Organizations: Sydney Opera House, Japan PMI, Nikkei, PMI, Toyota, Tokio Marine, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, Samsung Electronics, Reuters, Nvidia, National Samsung Electronics Union, Juno Bank . Hong Locations: Asia, Pacific, Australia, U.S, Japan, China, Korean, Juno Bank . Hong Kong

☆ Asia stocks fall as Biden drops presidential bid; inflation and GDP data in focus this week
▼ + stars: | 2024-07-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Aerial view by drone of Tokyo Cityscape with Tokyo Sky Tree visible in Tokyo city, Japan on sunrise. Asia-Pacific markets fell on Monday, as news emerged that U.S. President Joe Biden had dropped out of the presidential race, endorsing Vice President Kamala Harris as the Democratic nominee. On Monday, focus will be on the People's Bank of China's loan prime rate decision, with the one-year and five-year loan prime rate expected to be unchanged at 3.45% and 3.95% respectively, according to economists polled by Reuters. This week, investors will be looking out for GDP data from South Korea and the U.S., as well as factory activity data from around the region. Other economic data this week include inflation numbers from the U.S. and Singapore on Friday and Tuesday, respectively.

Persons: Joe Biden, Kamala Harris, LPR Organizations: Tokyo Cityscape, Democratic, Microsoft, People's Bank, Reuters Locations: Tokyo, Tokyo city, Japan, Asia, Pacific, South Korea, U.S, Singapore

☆ Markets could unwind the 'Trump trade' after Biden drops out of presidential race
▼ + stars: | 2024-07-22 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Anadolu | Anadolu | Getty ImagesThe "Trump trade" could unwind after President Joe Biden withdrew from the 2024 presidential election, throwing his weight behind Vice President Kamala Harris. The Trump trade refers to plays on stocks that are expected to benefit if the former president returns to the White House. CNBC previously reported that Wall Street sees a Trump win as good for stocks as the Republican candidate has called for lower taxes and deregulation. The strategist predicted the U.S. dollar would soften as some of the "Trump trade" unwinds, adding that he believes the prospect of a Democratic victory has marginally increased. Roche said, however, that a Harris nomination increases the chance of a Trump win, but lowers the odds of the Republicans winning both houses of Congress.

Persons: Joe Biden, Biden, Kamala Harris, Trump, Donald Trump, Trump's, Michael Brown, Pepperstone, Brown, David Roche, Harris, Biden Harris, Roche Organizations: U.S, Anadolu, Getty, Republican, House, CNBC, Trump, White, Democratic, Federal Reserve, Quantum, Democratic Party, Biden, Republicans Locations: Ankara, Turkiye, Asia, Australia, U.S

☆ CNBC Daily Open: Biden drops out, endorses Harris
▼ + stars: | 2024-07-22 | by ( Abid Ali | ) www.cnbc.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) on June 01, 2023 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. Big Tech faces the challenge of rekindling Wall Street's enthusiasm after a $900 billion tech rout.

Persons: Sebastian Raedler, haven't, Stephanie Pope, Max, CNBC's Jim Cramer, Elon Musk, Dan Ives, Lina Khan, Khan, Ives, CrowdStrike, Fred Imbert, —, Alex Harring, Jesse Pound, Kevin Williams, Leslie Josephs, Josie Rozzelle, Kevin Breuninger, Dan Mangan, Zev Fima, Spencer Kimball, Lim Hui Jie Organizations: New York Stock Exchange, CNBC, Bank of America, Boeing, Farnborough, Trump, Microsoft, Securities, Big Tech, Google, Apple Locations: New York City, London, New York, New Delhi, Washington

☆ Ukraine risks North and South Korea-like division, says former Singapore diplomat
▼ + stars: | 2024-07-19 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

Roman Pilipey | Afp | Getty ImagesRussia's war on Ukraine could end with the latter being divided into two — like North and South Korea, according to Singapore's former ambassador to Russia, Bilarhari Kausikan. Kausikan said Trump's approach could force Ukraine into a truce — an agreement to stop fighting but not necessarily to end the war, which could lead to a split in Ukraine. Korea is still at war, North and South, legally, but there is an armistice and a divided country. North and South Korea are officially still at war because an armistice was signed in 1953, not a peace treaty. But while increased military spending from Europe will be Trump's goal, it's won't be enough to deter Russia, Kausikan said.

Persons: Roman Pilipey, Bilarhari Kausikan, Kausikan, Donald Trump, Joe Biden, Trump's, Viktor Orban, Trump, Ukraine's, it's Organizations: Afp, Getty, UN, VP Bank, White, CNN, NATO, Trump Locations: Ukrainian, Donetsk, Ukraine, Roman, North, South Korea, Russia, Korea, Hungary, Singapore, Europe

☆ Asia-Pacific markets fall as rotation out of tech continues; Japan headline inflation holds steady
▼ + stars: | 2024-07-19 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets fell on Friday as investors on Wall Street continued to rotate out of tech stocks and take profits from the rally in equities in recent weeks. "There's some profit taking," said Keith Buchanan, senior portfolio manager at Globalt Investments. Over in Asia, traders will be on the lookout for continued rotation out of tech in the region after chip-related stocks plunged Thursday across Taiwan, Japan and South Korea. Japan's inflation came in at 2.8% for June unchanged from May, while core inflation, which strips out prices of fresh food, accelerated to 2.6%, from 2.5%. However, the core inflation reading was lower than the 2.7% expected by a Reuters poll of economists.

Persons: Keith Buchanan Organizations: Wall, Globalt Investments Locations: Tokyo . Asia, Pacific, Asia, Taiwan, Japan, South Korea

☆ U.S.-China tensions are not a 'new Cold War,' veteran Singapore diplomat Bilahari Kausikan says
▼ + stars: | 2024-07-18 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Bilahari Kausikan, Ministry of Foreign Affairs of Singapore speaks at The 2017 Concordia Annual Summit at Grand Hyatt New York on September 19, 2017 in New York City. But that is not the case today, due to the complexity of modern supply chains. Kausikan said that both the U.S. and China are parts of a single global system, "and their competition is within a single system." While there could be some separation in areas like high technology and finance, Kausikan said it would not be a complete separation of ecosystems. "In fact, I know of no business leader who actually believes this will happen," he quipped.

Persons: Bilahari Kausikan, Kausikan Organizations: Ministry of Foreign Affairs, Singapore, Grand Hyatt, U.S, United Nations, U.S ., Bank Locations: NY, York, New York City, China, U.S, Soviet Union

Chinese President Xi Jinping and former U.S. President Donald Trump in Beijing, China, in 2017. "So this is not going to be a sustainable driver of growth for China." China's exports to the U.S. rose by a modest 1.5% in the first half of the year. Citi forecasts 5.0% growth in real GDP growth for China this year. UBS forecasts 4.9% growth for China's economy this year.

Persons: Xi Jinping, Donald Trump, Artyom Ivanov, Goldman Sachs, Trump, JD Vance, Hui Shan, CNBC's, Janet Yellen, Vance, Biden, Mike Pence wouldn't, MAGA, Lin Jian, Goldman's Shan, Shan, Tao Wang Organizations: TASS, Getty, BEIJING, U.S, European, Citi, Fox News, Trump, Capitol, China's Ministry of Foreign Affairs, CNBC, UBS Investment Bank, UBS Locations: Beijing, China, U.S, European Union, Asia, Ukraine

Asia-Pacific markets traded mixed on Wednesday with Australia's S&P/ASX 200 reaching an all-time high, while an increase in business optimism among large Japanese manufacturers lifted Japanese stocks. Japan's Nikkei 225 declined 0.43% to close at 41,097.69, while the Topix rose 0.37% to end at 2,915.21. The Taiwan Weighted Index fell 0.77% after a report cited U.S. Republican presidential candidate Donald Trump saying that Taiwan should pay the U.S. for defense. I think, Taiwan should pay us for defense," Trump said in interview with Bloomberg Businessweek in June that was published on Tuesday. On a month-on-month basis, Singapore's non-oil domestic unexpectedly dropped 0.4%, compared with a expectations of a 4.1% growth.

Persons: Australia's, Donald Trump, Trump, Cho Jung, TSMC, Georges Elhedery, Elhedery, Noel Quinn Organizations: Reuters, U.S ., Nikkei, Northern Star Resources, Bellevue, Mining, Newmont Corporation, CSI, Republican, Bloomberg Businessweek, Taiwan, HSBC Holdings, Hong Locations: Asia, Pacific, Gold, Taiwan, Hong Kong

☆ Trump presidency tariffs could be a 'major downside growth risk' for China, says Goldman Sachs
▼ + stars: | 2024-07-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump presidency tariffs could be a 'major downside growth risk' for China, says Goldman SachsHui Shan, chief China economist of Goldman Sachs, says the implications for the macroeconomy are significant if Donald Trump wins the U.S. presidential election and imposes a 60% tariff on Chinese imports.

Persons: Goldman Sachs Hui Shan, Goldman Sachs, Donald Trump Organizations: Email, U.S Locations: China

☆ Asia markets climb as investors assess assassination attempt on Trump, await China Third Plenum
▼ + stars: | 2024-07-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets climbed on Monday as investors awaited China's Third Plenum and also assessed an assassination attempt on former U.S. President Donald Trump at a rally over the weekend. David Roche, president of Quantum Strategy, said in a note on Sunday that Trump would win the presidency, with an increased probability of a Republican clean sweep of both the House of Representatives and the Senate. Key China economic data will be released on Monday, including the country's second quarter GDP numbers. China's economy is expected to expand 5.1% year on year, according to a Reuters poll of economists, compared to 5.3% in the first quarter. Japan's markets are closed for a public holiday.

Persons: Donald Trump, David Roche Organizations: Quantum, Trump, Republican Locations: Asia, Pacific, China

☆ China's beer market, the world's largest, set for bounce as drinkers go high-end
▼ + stars: | 2024-07-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

Sporting events such as the ongoing Euro 2024, the upcoming Copa Americana and Paris Olympics, coupled with hotter weather, are expected to drive up demand for the beverage. Pointing to the Euro 2024, Chinese online database QiChaCha noted that bars and stores have been decorated with European Cup merchandise and they are offering sports-themed meals to cash in on the frenzy. "The European Cup ignites the 'beer economy,'" the firm said, adding that China's beer industry had shown a clear trend towards high-end offerings. They also expect China's beer industry to continue to benefit from a product mix upgrade, besides lower barley prices and packaging material prices in 2024. Carlsberg chief executive Jacob Aarup-Andersen said that brewers will be boosted by events such as the Paris Olympics and the Euro 2024, according to the report.

Persons: Lei Yang, Sun, QiChaCha, Lei, Carlsberg, Jacob Aarup, Andersen, Aarup Organizations: CGS, Sporting, Americana, Paris, European, Heineken, Carlsberg, Paris Olympics Locations: China, Asia

☆ Japan's Nikkei falls over 2% amid suspected yen intervention; U.S. inflation cools more than expected
▼ + stars: | 2024-07-12 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Early Friday, the yen also suddenly strengthened against the dollar after the U.S. inflation data release, prompting analysts and traders to suspect a possible intervention from the country's ministry of finance. The yen traded at 158.55 against the U.S. dollar at roughly 12 a.m. Tokyo time after trading around 161.52 late Thursday. The currency strengthened further against the greenback, currently standing at 158.23. On Friday, Japan's top currency diplomat Masato Kanda said that authorities will take action as needed in the foreign exchange market. Reuters also reported that Kanda said recent yen moves were somewhat rapid, but declined to comment on whether authorities had intervened in the currency.

Persons: Masato Kanda, Kanda Organizations: Federal Reserve, U.S, greenback, Reuters Locations: Asia, Pacific, U.S, Tokyo

☆ Japan is worried about another 'transactional' Trump presidency, Tokyo-based expert says
▼ + stars: | 2024-07-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

However, following the recent turmoil in Biden's party, Japan's ruling Liberal Democratic Party is now reappraising the odds of a "Trump 2.0 presidency." "I think the issue with Trump, he's very transactional, he's not very predictable. If you're Japan, they're looking at the future and wondering, 'this could be a fascinating few years for for us.'" Collateral damageA Trump presidency is concerning to Tokyo because Japan suffered from "collateral damage" during his first term, Pesek said. "Now Japan has to, in many ways, go back to the drawing board, and at least begin bracing for a Trump 2.0 presidency, which is not going down very well [in Tokyo]."

Persons: Shinz Abe, Donald Trump, Cheriss, Donald Trump's, William Pesek, Joe Biden's, Pesek, Biden, Nancy Pelosi, Trump, CEPR, He's Organizations: White, Washington , D.C, NurPhoto, Democratic, Liberal Democratic Party, Trump, Economic, Research Locations: Washington ,, Japan, Tokyo, Asia, China, North America

☆ Shares of Stellar Blade maker Shift Up surge almost 50% on trading debut
▼ + stars: | 2024-07-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Game developer Shift Up is known for its mobile and computer games that include Goddess of Victory: Nikke and console game Stellar Blade. Shares of South Korean video game developer Shift Up spiked almost 50% as the company debuted on the Kospi on Thursday. The company sold 7.25 million shares in its IPO, raising 435 billion won or about $315.56 million. This is South Korea's largest IPO since the debut of maintenance and repair firm HD Hyundai Marine Solution in May. Shift Up also makes the free-to-play game Goddess of Victory: Nikke, released in 2022.

Persons: Tae Kim Organizations: Korea Exchange, South Korean, Hyundai, PlayStation Locations: Seoul, South Korea, U.S

☆ Japan's Nikkei smashes past 42,000 mark to all-time high; Asia-Pacific markets climb on tech rally and rate cut hopes
▼ + stars: | 2024-07-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Commercial and residential buildings are illuminated at dawn in Seoul, South Korea, on Saturday, Oct. 21, 2023. Japan's Nikkei 225 surged to a fresh high on Thursday, crossing the 42,000 mark for the first time. Other Asia-Pacific markets rose on the back of a U.S. Big Tech rally and greater confidence on Federal Reserve rate cuts. Chip stocks were among the biggest winners of the U.S. trading session. In Asia, investors will be watching for any spillover optimism in the region's tech stocks, particularly in Japan, where chip related companies have lifted the Nikkei 225 to record highs.

Persons: Topix Organizations: Nikkei, Big Tech, Taiwan Semiconductor Manufacturing Company, Qualcomm, Broadcom, Bank of Locations: Seoul, South Korea, Asia, Pacific, U.S, Japan

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