On Thursday morning (12 February, 9:17 AM, GMT+7, Bangkok time), most major indices in the Asia Pacific region rose, with Japan’s Nikkei rising above 58,000 for the first time, amid continued investor optimism following the nation’s latest general election.
Market participants have cited enthusiasm for Prime Minister Sanae Takaichi’s administration after her decisive Lower House victory as a key driver for the “Takaichi trade.”
In January, the U.S. Bureau of Labor Statistics reported nonfarm payroll growth of 130,000, significantly exceeding economists’ forecasts of 55,000. December’s figures were revised downward to show an increase of 48,000 jobs. The solid performance of the U.S. labor market has lowered the likelihood of imminent Fed rate cuts.
This followed weaker consumer spending numbers earlier in the week, as December data showed flat growth, missing economists’ forecasts for a 0.4% monthly rise.
Japan’s NIKKEI climbed by 0.07% to 57,693.50. South Korea’s KOSPI jumped by 2.84% to 5,506.47, and Australia’s ASX 200 grew by 0.93% to 9,098.90.
As for stocks in China, Shanghai’s SSEC slid by 0.01% to 4,131.64. Hong Kong’s HSI decreased by 0.65% to 27,089.90, while Shenzhen’s SZI surged by 0.54% to 14,237.07.
The U.S. stock markets edged down on Wednesday as the Dow Jones Industrial Average (DJIA) dropped by 0.13% to 50,121.40. NASDAQ lost 0.16% to 23,066.46, while S&P 500 remained relatively flat at 6,941.47. VIX fell by 0.79% to 17.65.
As for commodities, oil prices settled higher on Wednesday as investors weighed heightened tensions between the United States and Iran. However, market optimism was tempered by U.S. inventory data showing a significant increase in crude stockpiles, which helped limit further price gains. Brent crude closed up 60 cents at $69.40 per barrel, a gain of 0.87%. U.S. West Texas Intermediate crude added 67 cents to finish at $64.63, rising 1.05%.
This morning, Brent crude futures gained 25 cents, or 0.36%, to $69.65 per barrel, and the WTI increased 27 cents, or 0.42%, to $64.90 per barrel.
Meanwhile, gold futures dipped by 0.17% to $5,089.90 per Troy ounce.
