Fri. Dec 9th, 2022

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Asia-Pacific shares rise

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Asia-Pacific stocks

Shares in Asia-Pacific were mostly higher in Thursday trade as investors reacted to the latest announcements from the U.S. Federal Reserve.

Mainland Chinese stocks edged higher, with the Shanghai composite up 0.63% and the Shenzhen component advancing 0.729%. The Hang Seng index in Hong Kong rose fractionally.

In Japan, the Nikkei 225 gained 0.14% while the Topix index traded 0.27% higher. South Korea’s Kospi, however, declined 0.57%.

Shares in Australia jumped, with the S&P/ASX 200 up 1.07%.

Australia’s unemployment rate in November was at 6.8%, according to seasonally adjusted estimates released by the Australian Bureau of Statistics on Thursday. That compared against October’s 7% unemployment rate. Economists polled by Reuters had expected the unemployment rate in November to stay at 7%.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2%.

Overnight on Wall Street, the S&P 500 closed 0.2% higher at 3,701.17. The Nasdaq Composite gained 0.5% to end its trading day at 12,658.19, seeing intraday and closing all-time highs. The Dow Jones Industrial Average, on the other hand, shed 44.77 points to close at 30,154.54.

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