Asian markets traded mostly higher in early deals on Thursday, kindled by the risk appetite in the market after Treasury bond yield notes plunged from its multi-year highs. Long-term Treasury yield bonds fell after the US Treasury announced massive debt buybacks, calming investor fears about rising borrowing costs that had hurt global stock markets. Japan’s Nikkei surged after two straight sessional losses, as the country’s trade deficit registered sharp rise in July. Japanese imports surged to a record high on increased crude oil purchases, while export growth remained robust, buoyed by robust demand for AI-related chips.
Nikkei surge by 773.58 points or 1.18% to 66,100.00, Hang Seng soared by 307.93 points or 1.21% to 25,803.00, KOSPI Index skyrocketed by 363.70 points or 5.62% to 6,834.87, Jakarta Composite lifted by 93.83 points or 1.47% to 6,487.96, Shanghai Composite widened by 7.06 points or 0.18% to 3,901.48, and FTSE Bursa Malaysia KLCI index enlarged by 5.97 points or 0.34% to 1,737.29.
On the flip side, Straits Times dipped by 23.50 points or 0.41% to 5,670.74, and Taiwan weighted down by 5.93 points or 0.01% to 44,713.42.
