Asia-Pacific markets rise as most of the region observes Lunar New Year holidays
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|
|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.
( Source : https://www.cnbc.com/ )