Thursday 6th February 2025: Asia-Pacific Markets Rise as Wall Street Extends Gains

Global Markets:

•  Asian Stock Markets : Nikkei up 0.52%, Shanghai Composite up 0.83%, Hang Seng up 0.63% ASX up 1.23%
• Commodities : Gold at $2887.35 (-0.23%), Silver at $32.75 (-0.78%), Brent Oil at $74.79 (0.19%), WTI Oil at $71.24 (0.23%)
• Rates : US 10-year yield at 4.429, UK 10-year yield at 4.435, Germany 10-year yield at 2.359

News & Data:

• (USD) ISM Services PMI  52.8 vs 54.2 expected
• (USD) Final Services PMI  52.9 vs 52.9 expected

Markets Update:

Asia-Pacific markets traded mostly higher on Thursday, following Wall Street’s gains as investors brushed off trade concerns and weak U.S. tech earnings. Australia’s S&P/ASX 200 climbed 1.14%, while Japan’s Nikkei 225 rose 0.46% and the Topix added 0.3%. South Korea’s Kospi advanced 0.93%, with the Kosdaq up 1.09%. Hong Kong’s Hang Seng Index edged 0.31% higher, while China’s CSI 300 gained 0.14%.

India’s markets saw mixed performance, with the Nifty 50 slipping 0.16% and the BSE Sensex trading flat. Investors are closely watching India’s central bank, which is expected to cut interest rates in its policy meeting to boost the slowing economy. The decision will be announced on Friday.

On Wall Street, major U.S. indexes posted their second consecutive day of gains, despite sharp declines in Alphabet and AMD following weak earnings. The Dow Jones Industrial Average jumped 317.24 points (0.71%) to 44,873.28, driven by a rally in Nvidia. The S&P 500 gained 0.39% to close at 6,061.48, while the Nasdaq Composite added 0.19% to 19,692.33.

Nvidia soared over 5% after Super Micro Computer announced the full-scale production of AI data centers using Nvidia’s Blackwell platform. As a result, Super Micro’s stock surged 8%. Despite ongoing volatility, investors remain optimistic about technology-driven growth and central bank policies shaping global markets.

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