Expectations of interest rate cuts drive Asian stock markets higher, with the Nikkei reaching 42,000 points for the first time in history
Global markets are betting on the Fed's rate cut, with Asia-Pacific stock markets rising collectively. The Nikkei 225 index soared to a new high, with chip-related companies generally rising. Taiwan Semiconductor's stock continues to hit new highs
On Tuesday, Federal Reserve Chairman Powell's speech brought expectations of a rate cut to the global market. Tonight, the latest inflation data will be released in the United States, and Asian stock markets followed the U.S. market, collectively rising.
On Thursday, July 11, the Nikkei 225 index soared to a new high, opening up by 1.22% to 42,205.57, breaking through the 42,000-point mark for the first time, with chip-related companies generally rising.
The USD/JPY exchange rate is 161.57, and Japan's 10-year government bond yield rose by 0.2bp to 1.087%.
South Korea's KOSPI index opened higher by 0.84% at 2,892.21 points. The Bank of Korea stated that it will maintain a restrictive stance for a sufficient period of time and will consider the timing of a rate cut while evaluating CPI.
South Korea's 10-year government bond yield rose by 0.8bp to 3.206%. The South Korean won strengthened against the U.S. dollar by 0.3%. Previously, the Bank of Korea stated that it will maintain a restrictive stance for a sufficient period of time.
Taiwan's weighted index rose by 0.89%, with the TSMC sector continuing to hit a historical high from yesterday after exceeding market expectations in second-quarter sales, opening today up by 1.91% to 1,065 New Taiwan dollars.
Australia's S&P/ASX 200 index opened up by over 1%, now at 7,881.3.
The Indian stock market closed at a record high last night, with both the Nifty 50 and Sensex hitting historical highs.
Hong Kong's two major indices opened higher, with the Hang Seng Index up 0.9% and the Hang Seng TECH Index up 1.03%. Automotive stocks rose, with XPeng up over 5%, Li Auto up over 4%, and Nio up over 2%.
In A-shares, the Shanghai Composite Index opened at 2957.25 points, up 0.61%. The Shenzhen Component Index opened at 8800.39 points, up 1.19%. The ChiNext Index opened at 1673.54 points, up 1.36%. The CSI 300 Index opened at 3451.04 points, up 0.64%