Asia-Pacific equities traded in a mixed fashion on Thursday, following the extension of the United States-China tariff truce earlier in the week amid growing expectations of a U.S. Federal Reserve rate cut next month.
By 11:30 am AEST (1:30 am GMT), Australia’s S&P/ASX 200 had climbed 0.7%, trading at record levels. In contrast, Japan’s Nikkei 225 slipped 1.1%, while South Korea’s Kospi 200 was unchanged at 8,222.8.
Economic data in Australia showed the unemployment rate falling to 4.2% in July, according to the Australian Bureau of Statistics.
Employment rose by 25,000 people during the month, while the number of unemployed dropped by 10,000.
In the U.S., Wall Street benchmarks advanced on Wednesday, with the Dow Jones Industrial Average up 1%, the S&P 500 gaining 0.3%, and the Nasdaq Composite rising 0.1%.
In commodities, Brent crude fell 0.7% to close at US$65.63 a barrel — its lowest level since 6 June. Spot gold edged 0.2% higher to finish at US$3,365.90 per ounce.
Chinese equities were stronger, with the Shanghai Composite adding 0.5% to reach a four-year high of 3,683.5. The CSI 300 index rose 0.8% to 4,176.6.
Hong Kong’s Hang Seng Index jumped 2.6% to 25,613.7, and India’s BSE Sensex added 0.4% to 80,539.9.
European markets mostly gained, with the FTSE 100 up 0.2% to a record close at 9,165.2. Germany’s DAX dipped 0.7% to 24,185.6, while France’s CAC 40 advanced 0.7% to 7,805.0.
