Asian markets higher on tech gains; South Korea hits record high on chip rally

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Nikada

Asia stocks trade rise on Thursday, driven by expectations of an imminent shift in U.S. monetary policy. Tech shares led a rally across Asian stock indexes, while gold prices continued to hover near a record high, and the dollar remained weak.

However, regional trading volumes remained subdued. Activity was muted due to a week-long holiday closure in mainland Chinese markets, and Indian markets were also closed for a local holiday.

Gold hovered around $3,860 per ounce on Thursday, staying near its record high, supported by expectations of Federal Reserve rate cuts and safe-haven demand.

The benchmark KOSPI jumped 2.4% to around 3,538 on Thursday, marking a record high and extending gains from the prior session as chipmakers rallied on news of an OpenAI collaboration.

Japan (NKY:IND [https://seekingalpha.com/symbol/NKY:IND]) rose 0.96% to above 44,800 on Thursday, ending a four-day losing streak and following overnight gains on Wall Street. The Japanese yen [https://seekingalpha.com/symbol/USD:JPY#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews] hovered near 147 per dollar on Thursday after rising for four straight sessions, supported by safe-haven inflows.

Japan’s consumer confidence index rose to 35.3 in September 2025 from 34.9 in the previous month, reaching its highest level since December 2024, as most components improved.

China (SHCOMP [https://seekingalpha.com/symbol/SHCOMP]) market closed.

Hong Kong (HSI [https://seekingalpha.com/symbol/HSI]) rose 1.59% to 27,238 on Thursday morning deals, extending gains for the third session as trading resumed after Wednesday’s break.

India (SENSEX [https://seekingalpha.com/symbol/SENSEX]) market closed.

India's gross goods and services tax collection rose 9.1% year-on-year in September 2025, accelerating from a 6.5% increase in August, ministry data showed on Wednesday.

The Reserve Bank of India on Wednesday rolled out a series of measures to boost bank lending and deepen banks’ role in capital markets.

Australia (AS51 [https://seekingalpha.com/symbol/AS51]) rose 1.23% to around 8,900 in Thursday morning trade, reaching its highest level in one month, boosted by gold stocks, miners, and banks. The Australian dollar [https://seekingalpha.com/symbol/AUD:USD#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews] remained steady at around $0.662 on Thursday, holding its recent gains, as investors assessed disappointing trade balance figures.

Australia’s trade surplus collapsed in August 2025 [https://seekingalpha.com/news/4501155-australian-trade-surplus-plunges-to-seven-year-low-amid-tariff-impact-exports-tumble-78-mm], narrowed to AUD 1.83 billion. Exports slumped 7.8% month-on-month to a three-month low of AUD 41.86 billion in August 2025, following a downwardly revised 2.5% increase in July. Australia’s goods imports surged 3.2% month-on-month to a record AUD 40.03 billion in August 2025, rebounding from a revised 2.4% drop in the previous month.

The U.S. government has proposed buying equity in Australian critical minerals companies to boost supply and reduce reliance on China, Reuters reported, citing executives recently returned from Washington.

Household spending in Australia rose 0.1% mom in August 2025, easing from a revised 0.4% increase in the previous month and marking the weakest gain since April.

In the U.S. on Tuesday, all three major indexes ended higher [https://seekingalpha.com/news/4500670-wall-street-dow-sp500-nasdaq], buoyed by strong sector performance and optimism that the US government shutdown will be brief.

U.S. stock futures were little changed on Thursday after the S&P 500 set fresh all-time highs in the prior session, with investors largely dismissing concerns over the ongoing government shutdown: Dow +0.06%; S&P 500 +0.14%; Nasdaq +0.22%.

CURRENCIES: (JPY:USD [https://seekingalpha.com/symbol/JPY:USD]), (CNY:USD [https://seekingalpha.com/symbol/CNY:USD]), (AUD:USD [https://seekingalpha.com/symbol/AUD:USD]), (INR:USD [https://seekingalpha.com/symbol/INR:USD]), (HKD:USD [https://seekingalpha.com/symbol/HKD:USD]), (NZD:USD [https://seekingalpha.com/symbol/NZD:USD]).

MORE ON ASIA:

Australian trade surplus plunges to seven-year low amid tariff impact, exports tumble 7.8% m/m [https://seekingalpha.com/news/4501155-australian-trade-surplus-plunges-to-seven-year-low-amid-tariff-impact-exports-tumble-78-mm#source=url_first_level%3Amarket-news%7Csection%3Amarket-news%7Csection_asset%3Anews_title]

China's official PMI shows slowed contraction, but private survey signals growth, creating mixed economic picture [https://seekingalpha.com/news/4500026-chinas-official-pmi-shows-slowed-contraction-but-private-survey-signals-growth-creating-mixed-economic-picture#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title]

Bank of Japan signals readiness for more rate hikes, sees tariff impact as temporary growth slowdown [https://seekingalpha.com/news/4500027-bank-of-japan-signals-readiness-for-more-rate-hikes-sees-tariff-impact-as-temporary-growth-slowdown#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title]

RBA holds cash rate at 3.6%; maintains stability after August cut [https://seekingalpha.com/news/4500029-rba-holds-cash-rate-at-36-maintains-stability-after-august-cut#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title]

Japan retail sales and industrial output unexpectedly fall amid broader economic headwinds [https://seekingalpha.com/news/4500028-japan-retail-sales-and-industrial-output-unexpectedly-fall-amid-broader-economic-headwinds#source=url_first_level%3Amarket-news%7Csection%3Amarket-pulse%7Csection_asset%3Anews_title]