Asia-Pacific markets traded mixed on Thursday, despite gains on Wall Street, where a surprisingly upbeat jobs report boosted investor confidence in the resilience of the United States economy.
As of 11:50 am AEST (1:50 am GMT), Australia’s S&P/ASX 200 advanced 0.2%, surpassing its previous record closing high of 8,597.7. Japan’s Nikkei 225 also edged up 0.2%, while South Korea’s Kospi 200 fell 0.9%.
In Japan, household spending surged in May, rising 4.7% year-on-year, well above the 1.2% consensus forecast, according to data from the Ministry of Internal Affairs.
On a seasonally adjusted month-on-month basis, spending rose 4.6%, compared with expectations for a 0.4% increase.
Australia also reported improved consumption figures, with monthly household spending climbing 0.9% in May according to the Australian Bureau of Statistics (ABS). Compared to May 2024, spending rose 4.2%.
In the U.S. overnight, stocks extended gains after the release of a stronger-than-expected June payrolls report. The Dow Jones Industrial Average rose 0.8%, while the S&P 500 and Nasdaq Composite both closed at fresh record highs, gaining 0.8% and 1% respectively.
In commodity markets, Brent crude slipped 0.5% to settle at US$68.80 per barrel. Spot gold retreated 0.9% to US$3,326.03 per ounce.
Chinese equities posted a mixed session. The Shanghai Composite climbed 0.2% to a new yearly high of 3,461.2, while the CSI 300 index added 0.6% to 3,968.1.
Hong Kong’s Hang Seng Index, however, declined 0.6% to 24,069.9. India’s BSE Sensex also dipped, easing 0.2% to 83,239.5.
European bourses closed in positive territory. The UK’s FTSE 100 gained 0.6% to 8,823.2, Germany’s DAX rose 0.6% to 23,934.1, and France’s CAC 40 edged up 0.2% to 7,754.6.
