Asia-Pacific markets opened on a positive note on Thursday, following strong gains on Wall Street where the Dow Jones Industrial Average hit a record close. Investors are focusing on key economic data from Japan and Australia as the trading day progresses.
In Japan, the Nikkei 225 remained mostly flat in early trading, while the Topix rose by 0.34%. Japan’s trade data for September showed a 1.7% decline in exports compared to the same period last year, surprising economists who had predicted a 0.5% growth. This is the first contraction in exports for Japan this year, following a 5.5% growth in August. Imports also fell short of expectations, rising by 2.1% in September, below the 3.2% growth forecast and down from 2.3% in August.
Australia’s S&P/ASX 200 climbed by 0.8% in early trading. Investors are keeping an eye on the country’s unemployment rate, which is expected to remain unchanged at 4.2% for September.
In South Korea, the Kospi gained 0.1%, while the Kosdaq, focused on smaller-cap companies, was down by 0.25%.
Hong Kong’s Hang Seng futures pointed to a higher opening, with futures at 20,482, compared to the previous close of 20,286.85.
Later in the day, all eyes will be on Taiwan Semiconductor Manufacturing Company (TSMC), which is set to report its earnings, especially after a weak sales forecast from Dutch semiconductor equipment maker ASML.
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