Nvidia, Kospi, Nikkei 225, Hang Seng Index
South Korea’s central bank raised its key interest rate by a quarter point as expected on Thursday to contain inflation and prevent capital outflows as the US Federal Reserve prepares for further interest rate hikes.
Jung Yeon-je | Afp | Getty Images
Japan’s Nikkei 225 index hit another record high on Thursday as Asia-Pacific markets rose and followed gains on Wall Street as technology stocks rose overnight.
Nikkei 225 It rose 1.1% to an all-time high of 59,199. 31, and Topix increased by 1.45%.
South Korea’s Kospi index rose by 1.65%, while the small-cap Kosdaq gained 0.57%.
Australia’s S&P/ASX 200 index also rose 0.8% to a record high in early trade.
Hong Kong Hang Seng index Futures last traded at 26,947, above HSI’s Wednesday close of 26,765.72.
The Bank of Korea will announce its interest rate decision later in the day. South Korea’s central bank is expected to leave interest rates unchanged, according to economists polled by Reuters.
South Korean chipmakers Samsung Electronics and SK Hynix rose 1.97% and 2.26%, respectively.
Overnight in the US, stocks rose on the back of support from Nvidia and Oracle, with shares building on gains from the previous trading day.
The S&P 500 index closed at 6,946.13 points with an increase of 0.81%, and the Nasdaq Composite index closed at 23,152.08 points with an increase of 1.26%. The Dow Jones Industrial Average rose 307.65 points, or 0.63%, to 49,482.15.
Nvidia reported fourth-quarter financial results that beat Wall Street expectations, driven by 75% revenue growth from its core data center segment. Shares gained up to 2% in extended trading following the announcement.
The company reported adjusted earnings per share of $1.62, beating the $1.53 estimate of analysts surveyed by LSEG. Revenue reached $68.13 billion, above estimates of $66.21 billion.
—CNBC’s Sean Conlon and Pia Singh contributed to this report.
