Asian equities rose broadly on Thursday even as Wall Street registered a second day of losses overnight.
Regional sentiment was buoyed by the US Federal Reserve’s decision to hold interest rates steady and by expectations of progress in upcoming US-China tariff negotiations.
The markets also gained strength as speculations were rife that the US and UK are expected to announce a trade deal later in the day.
Japan’s Nikkei rebounds
Japanese shares ended higher, led by semiconductor names tracking gains in their US counterparts.
The Nikkei 225 gained 0.41 percent to 36,928.63, while the Topix index edged up to 2,698.72.
Advantest surged 3.7 percent, Tokyo Electron rose over 2 percent, and Screen Holdings added 1.4 percent.
Shares of NTT Data Group jumped nearly 17 percent following a Nikkei report that Nippon Telegraph and Telephone intends to launch a tender offer worth up to ¥3 trillion to acquire the remaining stake in the company.
Hong Kong, China extends rally as Beijing unveils fresh support
Hong Kong’s market advanced for a sixth straight session amid newly announced policy measures from Beijing aimed at supporting the private sector ahead of scheduled US-China tariff talks this weekend.
The Hang Seng Index closed 0.4 percent higher at 22,775.92, while the Hang Seng Tech Index added 0.6 percent.
China’s CSI 300 gained 0.6 percent, and the Shanghai Composite rose 0.3 percent.
Gains were seen across sectors: Geely Automobile rose 4.4 percent, Li Auto climbed nearly 5 percent, and Meituan was up 1.7 percent. On the other hand, SMIC and Baidu declined 2.3 percent and 2.8 percent, respectively.
The Hong Kong Monetary Authority left its base rate unchanged at 4.75 percent, mirroring the US Fed’s decision, as officials continued to monitor inflation risks tied to tariff policy.
Other regional markets post modest gains
South Korea’s Kospi index rose 0.22 percent to 2,579.48, extending its winning streak to a third day.
Australia’s S&P/ASX 200 added 0.16 percent to 8,191.70, while the broader All Ordinaries closed 0.26 percent higher at 8,421.70.
Indian markets ended lower on May 8 amid a volatile trading session, with the Nifty slipping below the 24,300 mark.
The Sensex fell 411.97 points, or 0.51 percent, to close at 80,334.81, while the Nifty declined 140.60 points, or 0.58 percent, to 24,273.80.
Barring IT and Media, all sectoral indices closed in the red, with metal, oil & gas, pharma, PSU banks, auto, consumer durables, and realty sectors losing between 1–2 percent.
Wall Street on Wednesday
US stocks closed higher after a choppy session.
The Dow rose 0.7 percent to 41,113.79, the S&P 500 gained 0.4 percent to 5,631.28, and the Nasdaq added 0.3 percent to 17,738.16.
Semiconductor stocks led the late-day rebound.
The Philadelphia Semiconductor Index jumped 1.7 percent on reports that the Trump administration may roll back AI chip export restrictions imposed during the Biden era.
Bloomberg reported that the move is part of a broader policy shift in how chip sales to foreign nations are regulated.
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