Several Asia-Pacific markets experienced fluctuations on Thursday following two consecutive days of declines. Notably, South Korea’s stocks saw a marginal rise after the Kospi index had dropped by 3.24% in the previous two sessions. This decline had nullified more than half of the gains made earlier in the week, prompted by the country’s re-implementation of a ban on short selling.
In China, the latest data revealed that consumer prices contracted by 0.2% year-on-year in October, surpassing the 0.1% decline initially anticipated by economists surveyed by Reuters. Additionally, producer prices underwent a 2.6% decrease, slightly less than the expected 2.7% decline.
The Kospi managed to close 0.23% higher at 2,427.08, gradually recovering from the losses incurred over the last two days. Conversely, the Kosdaq faced a decline of 1%, marking its third consecutive day in the red.
Meanwhile, Hong Kong’s Hang Seng index experienced a 0.22% dip in the final trading hour, on track for its third consecutive day of losses. China’s CSI 300 index, on the other hand, concluded the day flat at 3,612.83.
In Japan, the Nikkei 225 index rose by 1.49%, reaching 32,646.46, while the Topix index also saw a 1.26% gain, reaching 2,335.12.
In Australia, the S&P/ASX 200 closed 0.28% higher at 7,014.90.
Across the Pacific, the U.S. markets closed higher, with the S&P 500 index extending its winning streak to eight consecutive days on Wednesday, its longest in two years. The index finished 0.1% higher, matching the eight-day winning streak it achieved back in November 2021.
The Nasdaq Composite index also experienced a slight uptick of 0.08%, concluding a ninth positive day, marking its lengthiest winning streak in two years. However, the Dow Jones Industrial Average experienced a 0.12% decline, bringing an end to its most successful winning streak since July.
