Asian equity markets mostly advanced on Thursday, tracking a record rally on Wall Street driven by optimism over renewed US–Iran negotiations and the prospect of a long-term peace deal. Strong corporate earnings, gains in technology stocks, and resilience in China’s economy also supported global sentiment.
WTI crude futures remained steady near $91 per barrel on Thursday.
The benchmark KOSPI rose nearly 2% to around 6,200. Japan’s Nikkei (NKY:IND) climbed 2.56% to trade above 59,000, while the Japanese yen strengthened to around 158.8 per dollar.
China’s Shanghai Composite (SHCOMP) rose 0.55% to above 4,000, reaching a one-month high, while the Shenzhen Component Index gained more than 1.1% to 14,600 on stronger-than-expected domestic data. The offshore yuan also edged higher to above 6.81 per dollar.
China’s economy expanded by 5.0% year-on-year in Q1 2026, beating forecasts of 4.8% and improving from 4.5% in the previous quarter. Industrial output rose 5.7%, while retail sales increased by 1.7%, and the unemployment rate stood at 5.4%. However, industrial capacity utilization slipped to 73.6% from 74.1% a year earlier, and fixed-asset investment rose just 1.7%, slightly below expectations.
Hong Kong’s Hang Seng Index (HSI) advanced 1.60% to 26,160, extending gains for a third straight session.
India’s Sensex rose 0.32% to 78,420, marking a second consecutive day of gains. The Indian rupee traded near 93.2 per dollar. Meanwhile, China has become India’s largest trading partner in 2025–26, surpassing the US, with bilateral trade reaching $151.1 billion, according to government data cited by the Economic Times.
Australia’s ASX 200 (AS51) slipped 0.29% to 8,999 in early trade. The Australian dollar rose above $0.70, nearing its highest level since June 2022. Australia’s unemployment rate held steady at 4.3% in March, with employment rising by 17,900 jobs, driven entirely by full-time positions. Consumer inflation expectations also climbed to 5.9% in April 2026 from 5.2% a month earlier.
On Wall Street, all three major indexes closed higher on Wednesday, led by technology stocks.
Looking ahead, investors are awaiting a fresh wave of corporate earnings, including results from Netflix, PepsiCo, and Charles Schwab. US stock futures were slightly higher on Thursday following a record session for the S&P 500 and Nasdaq Composite: Dow +0.09%, S&P 500 +0.17%, Nasdaq +0.34%.
On the economic data front, markets will watch weekly jobless claims, along with updates on industrial production and capacity utilization for March.
Currencies: (JPY/USD), (CNY/USD), (AUD/USD), (INR/USD), (HKD/USD), (NZD/USD).
About the Author
