The Seoul skyline.
Mongkol Chuewong | Moment | Getty Images
Asia-Pacific markets traded mixed Thursday, tracking gains on Wall Street as a possible thaw in U.S.-China trade war fuels investor optimism.
Japan's benchmark Nikkei 225 rose 0.49% to close at 35,039.15, extending the previous day's gains. The Topix added 0.32% to end at 2,592.56. South Korea's Kospi slipped 0.13% to close at 2,522.33.
Australia's S&P/ASX 200 rose 0.6% to close at 7,968.2.
Hong Kong's Hang Seng index slipped 0.29% while mainland China's CSI 300 traded flat to end the trading day at 3,784.36.
South Korea's GDP contracted 0.1% in the first quarter of 2025, according to advance figures released Thursday, missing the 0.1% rise expected by a Reuters poll.
U.S. futures were subdued after the major U.S. indexes posted a second straight winning day. S&P 500 futures were up 0.1%, while Nasdaq 100 futures traded nearly 0.1% higher. Futures tied to the Dow Jones Industrial Average lost 45 points, or 0.1%.
Overnight stateside, the three major averages closed higher on hopes that U.S.-China trade tensions could soon ease. President Donald Trump also signaled he does not plan to remove Federal Reserve Chair Jerome Powell from his post as central bank leader.
The Dow Jones Industrial Average added 419.59 points, or 1.07%, to close at 39,606.57. The S&P 500 climbed 1.67% to end at 5,375.86, and the Nasdaq Composite rallied 2.50% to settle at 16,708.05. All three indexes posted back-to-back gains.
— CNBC's Lisa Kailai Han and Brian Evans contributed to this report.
Chances of China redirecting goods meant for the U.S. to other countries are 'minimal': Expert
The possibility of China deflecting goods meant for the U.S. to other markets are "minimal," with only 101 products at risk of redirection, said Simon Evenett, founder of The St. Gallen Endowment for Prosperity Through Trade.
Among these products, many belong to non-strategic sectors such as footwear and paper napkins with half of these goods already "losing ground" in the U.S, he added.
Markets such as those in Southeast Asia are more likely to opt for "surgical" and more measured steps in the face of an influx of Chinese imports rather than engage in a "wave of protectionism," Evenett added.
— Penny Chen, Neha Hegde
Japan is wooing more retail investors by making it cheaper for them to invest in the local stock market
Japan's Tokyo Stock Exchange is asking listed companies to reduce their minimum investment thresholds to attract smaller retail investments.
Current guidelines suggest companies keep the minimum investment below 500,000 yen ($3,500). The TSE now hopes to lower that to around 100,000 yen.
The move aims to make it easier for a diverse range of investors to invest in individual stocks, thereby stimulating the development of the Japanese economy, a group formed by the TSE composed of market experts said in a report published on Thursday.
"TSE will create an environment that is conducive to investment for a diverse range of individuals, including young people," the report added.
Read the full story here.
—Lee Ying Shan
Why gold became the safe haven of choice as U.S. Treasurys and dollar sold off
Gold prices have been on a tear with the recent trade turmoil driving investors to the safe haven, while competing assets such as the U.S. Treasurys and the dollar have tumbled.
This is tied to the seismic shift in U.S. trade policy under President Donald Trump, and bullion has "stepped into the void" as the market's safe haven asset of choice, Commonwealth Bank of Australia's director of mining and energy commodities research, Vivek Dhar, said.
"What makes this recent flight to safe‑haven demand so unique is that the U.S. dollar and Treasuries have been sold‑off as safe‑haven appeal of these U.S. assets has declined," Dhar added.
Read the full story here.
—Lee Ying Shan
Asia auto stocks mixed after Trump floats tariff exemptions for some automakers
Shares of Asia's automaker companies traded mixed after U.S. President Donald Trump said he is considering exemptions for automakers from some tariffs previously announced by his administration.
Japanese automaker stocks advanced with Toyota and Nissan shares climbing 3.49% and 2.44% respectively. Honda rose 0.99%, while Mazda Motor and Mitsubishi Motor gained around 3% each.
Conversely, shares of South Korea's Kia and Hyundai Motor slid 0.67% and 0.37% respectively.
China automakers also traded lower. Li Auto stocks lost more than 3%. BYD slid 1.96%, and Xpeng was down 1.76%.
—Lee Ying Shan
Bank of Korea could deliver two to three more rate cuts by end of year, says ANZ
The Bank of Korea may deliver two to three more interest rate cuts by the end of 2025, ANZ's economists wrote in a note after South Korea's preliminary first quarter GDP data.
"The challenging growth backdrop warrants a stronger policy response. We expect total fiscal stimulus to exceed 1% of GDP this year," ANZ's Asia Economist Krystal Tan said.
South Korea's economy came under intensified pressure in the first quarter even before the bulk of the U.S. tariffs hit, dragged by declining private consumption, government spending, investment and trade, Tan said.
—Lee Ying Shan
South Korea’s Q1 GDP contracts 0.1% as construction activity plunges
South Korea's GDP contracted 0.1% year on year in the first quarter, according to advance figures, marking the first contraction in its economy since the fourth quarter of 2020.
The GDP figure missed the 0.1% rise expected in a Reuters poll, and is a reversal compared to the 1.2% rise in the last quarter of 2024.
Data from the Bank of Korea showed that the drop was mostly due to a fall in construction, with the sector contracting 12.4% year on year.
On a quarterly basis, GDP shrank 0.2%, reversing from the 0.1% gain in the last quarter of 2024.
Read the full story here.
— Lim Hui Jie
SK Hynix quarterly profit soars 158% to top estimates as chip demand surges on AI boom
South Korea's SK Hynix on Thursday topped quarterly revenue and operating profit estimates, with demand for its high bandwidth memory offerings used in generative AI chipsets remaining robust.
Here are SK Hynix's first-quarter results versus LSEG SmartEstimates:
- Revenue: 17.64 trillion won ($12.36 billion) vs. 17.26 trillion won
- Operating profit: 7.44 trillion won vs. 6.62 trillion won
Revenue rose about 42% in the March quarter compared with the same period a year earlier, while operating profit surged 158%, year on year.
Read the full story here.
—Dylan Butts
Stocks end Wednesday higher, extending rally from day before
The major averages ended Wednesday higher, extending their rally from Tuesday.
The Dow Jones Industrial Average pulled back from its high of the day, when it was up more than 1,100 points. The blue-chip index still managed to climb 419.59 points, or 1.07%, to settle at 39,606.57.
The S&P 500 added 1.67%, closing at 5,375.86, while the Nasdaq Composite gained 2.50% and finished at 16,708.05.
— Lisa Kailai Han
Bessent says there's opportunity for 'big deal' with China
Scott Bessent, U.S. Treasury secretary, at the IIF Global Outlook Forum during the International Monetary Fund and World Bank Spring meetings in Washington, D.C., on April 23, 2025.
Kent Nishimura | Bloomberg | Getty Images
Treasury Secretary Scott Bessent said the U.S. and China have the opportunity to strike "a big deal" on trade.
During an appearance at the Institute of International Finance in Washington, D.C., he said: "If they want to rebalance, let's do it together."
"This is an incredible opportunity. I think if Bridgewater founder Ray Dalio were to write something, he could call it a beautiful rebalancing," he added.
— Dan Mangan
China indicates openness to trade talks with U.S.
In the latest development on potential de-escalation of the global trade war, China signaled it was open to trade talks with the U.S.
However, the nation also underscored that it would not negotiate if the U.S. continued to make threats.
"China's attitude towards the tariff war launched by the U.S. is quite clear: We don't want to fight, but we are not afraid of it. If we fight, we will fight to the end; if we talk, the door is wide open," said Foreign Ministry spokesperson Guo Jiakun, according to Dow Jones.
— Lisa Kailai Han
Trump hints China tariffs could come down
Trump late Tuesday said he is willing to take a less confrontational approach to trade talks with China, noting that the current 145% tariff on Chinese imports is "very high, and it won't be that high. … No, it won't be anywhere near that high. It'll come down substantially. But it won't be zero."
This is a departure from the stern rhetoric on U.S.-China trade coming from the White House in recent weeks. These tensions have contributed to U.S. markets tumbling this month. The S&P 500 is down 5% in April.
— Fred Imbert
English (US)