Discover the lively Ameyoko shopping area in Tokyo, Japan
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Positive developments are impacting Asian markets, driven by strong showings on Wall Street and significant progress in major technology firms.
The Nikkei 225 index on Japan’s primary stock exchange saw a 0.33% increase, while the wider Topix index rose by 0.25%.
In January, Tokyo’s core consumer price index (excluding fresh food) rose by 2.5%, surpassing Reuters’ 2.4% forecast.
Japan’s jobless rate dropped to 2.4% in December from 2.5% the previous month, below the anticipated 2.5%.
Consumer sales in Japan grew by 3.7% annually in December, and industrial output increased by 0.3% after a 2.2% decline in the previous month.
South Korean markets declined following a four-day hiatus, with the Kospi dropping by 1.38% and Kosdaq by 0.43%.
The S&P/ASX 200 index in Australia rose by 0.37%.
Australia’s producer price index showed a 3.7% yearly growth in Q4 2024, according to the Australian Bureau of Statistics.
Indian stocks started positively ahead of the Union Budget announcement, with the Nifty 50 index increasing by 0.29% and the BSE Sensex showing a 0.17% rise.
Both Hong Kong and Chinese markets were shut for Lunar New Year festivities.
In the United States, major stock indexes displayed positive trends in recent sessions.
The Dow Jones Industrial Average climbed by 0.38% to close at 44,882.13, gaining 168.61 points. It reached nearly 300 points during trading. The S&P 500 ended at 6,071.17, up 0.53%, while the Nasdaq Composite finished at 19,681.75, with a 0.25% increase.
However, market sentiment soured after U.S. President Donald Trump imposed a 25% tariff on imports from Canada and Mexico.
— Content refreshed and updated with insights from CNBC analysts Lisa Kailai Han and Sean Conlon.