Asia Stocks Rise as Tech Gains Offset Rate Uncertainty; ASX, KOSPI Hit Record High

Asia Stocks Rise Amid Rate Uncertainty

Asia-Pacific markets traded higher on Thursday, with several bourses in the region returning from the Lunar New Year holiday.

Regional Markets

• South Korea's Kospi jumped to a record high, driven by gains in technology stocks.
• The ASX also hit a record high, with the S&P/ASX 200 index rising 1.2%.
• Japan's Nikkei 225 index gained 0.8%, while the Hang Seng index in Hong Kong rose 0.5%.

Market Analysis

The rally in Asia-Pacific markets was driven by gains in technology stocks, which offset concerns about rate uncertainty. The BOJ's decision to hike its policy rate to 1% by end-June, sooner than forecast before the election, also contributed to the rally.

Regional Rally

The regional rally was tracked by Wall Street gains, with the S&P 500 index rising 0.5% on Wednesday.

Conclusion

The rally in Asia-Pacific markets was driven by gains in technology stocks and the BOJ's decision to hike its policy rate. The regional rally was tracked by Wall Street gains, and the ASX and KOSPI hit record highs.

Sources

[7] South Korea's Kospi jumps to record high as regional rally tracks Wall Street gains
[3] BOJ to hike policy rate to 1% by end-June, sooner than forecast before election: Reuters poll