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%.
| TICKER | COMPANY | NAME | PRICE | CHANGE | %CHANGE |
|---|---|---|---|---|---|
| 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.
( Source : https://www.cnbc.com/ )