Asia-Pacific markets rise as most of the region observes Lunar New Year holidays

07:16 27 January in Latest News

Markets in the Asia-Pacific traded higher as Lunar New Year holidays were observed in most of the region.

In Australia, the S&P/ASX 200 rose 0.44% to close at 7,490.4, following Wall Street’s tech-fueled rally ahead of major earnings reports. New Zealand’s S&P/NZX 50 pared earlier gains and last traded slightly below the flatline.

The Nikkei 225 rose 1.46% to end its session at 27,299.19 and the Topix gained 1.42% to close at 1,972.92. The Japanese yen strengthened 0.42% against the US dollar to 130.13 — continuing to trade above 130 for the second consecutive day.

The yield on the 10-year Japanese Government Bonds maintained levels below the central bank’s upper ceiling of its tolerance range and last stood at 0.411%.

Nikkei 225 Index *NIKKEI 27382.56 19.81 0.07
Hang Seng Index *HSI 22612.9 46.12 0.2
S&P/ASX 200 *ASX 200 7493.8 25.5 0.34
Shanghai *SHANGHAI 3264.81 24.53 0.76
KOSPI Index *KOSPI 2484.02 15.37 0.62
CNBC 100 ASIA IDX *CNBC 100 8788.08 -2.9 -0.03

Markets in China, Hong Kong, Taiwan, South Korea, Malaysia and Singapore are closed for a holiday.

The Nasdaq Composite rose more than 2% in the U.S. on optimism the Federal Reserve may slow down its interest rate hikes. Last week, economic data showed a decline in wholesale prices and retail sales.



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