Asia-Pacific markets showed mixed performance on Thursday as investors assessed corporate earnings and new tariff threats from United States President Donald Trump.
Australia’s S&P/ASX 200 gained 0.5%, while Japan’s Nikkei 225 edged up 0.2%. South Korea’s Kospi, however, fell 0.7%.
Among data releases, Private new capital expenditure (capex) declined 0.2% in the December quarter of 2024, though it remained 0.6% higher year-on-year, according to seasonally adjusted data from the Australian Bureau of Statistics (ABS).
Robert Ewing, ABS head of business statistics, noted: “Construction drove the drop in equipment and machinery capex, down 8.1%. The fall came mainly from businesses in the trade sector that had reduced investment in light trucks, utes, and machinery.”
Meanwhile, Japan’s Seven & i Holdings (TSE: 3382) tumbled 10.5% after the company revealed that its founding family had failed to secure financing for a buyout of the convenience store operator.
Asian chip stocks were also in focus after Nvidia’s fourth-quarter earnings report exceeded market expectations.
Overnight, U.S. stocks also closed mixed. The S&P 500 finished flat at 5,956.1, snapping a four-day losing streak. The Dow Jones Industrial Average fell 188 points or 0.4% to 43,433.1, and the Nasdaq Composite rose 0.3% to 19,075.3.
Investor sentiment was shaken after Trump announced plans to impose 25% tariffs on European Union imports, following his decision to move forward with tariffs on Mexico and Canada.
Among commodities, Brent crude extended its decline, falling 0.6% to a two-month low of US$72.07 per barrel. Spot gold retreated 1.3% from record highs, trading at $2,913.27 per ounce.
In China, the Shanghai Composite climbed 1% to 3,380.2, while the CSI 300 rose 0.9% to 3,959.9. Hong Kong’s Hang Seng Index jumped 3.3% to 23,787.9.
India’s BSE Sensex remained closed for the Mahashivratri public holiday.
Among European markets, the FTSE 100 advanced 0.7% to 8,731.5, the DAX surged 1.7% to 22,794.1, and the CAC 40 gained 1.2% to 8,143.9.
