Asian shares rise, taking cue from Wall Street's winning streak

27/11/2025

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between US dollar and South Korean won, top center, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea on Nov 26. (AP)

MANILA, Philippines, Nov 27, (AP): Asian shares rose on Thursday, taking their cue from Wall Street, where a winning streak extended to a fourth straight day. The future for S&P 500 and that for the Dow Jones Industrial Average were nearly unchanged. Japan’s Nikkei 225 added 1.2% to 50,167.10 as investors bet that the Federal Reserve will cut interest rates at its Dec 10 meeting.

The Japanese government also reportedly plans to issue 11 trillion yen ($70.5 billion) in new bonds to fund its economic package. Tech-related stocks advanced, with SoftBank Group jumping 3.6% and Kioxia Holdings up 7.9% following a nearly 15% rout the day before. In Chinese markets, Hong Kong’s Hang Seng index picked up nearly 0.1% to 25,952.42, while the Shanghai Composite index climbed 0.3% to 3,875.26.

Gains were tempered by data that showed profits for the first ten months of 2025 at major Chinese industrial firms rose a lackluster 1.9% year-on-year, down from 3.2% growth in the previous period. In South Korea, the Kospi added 0.7% to 3,986.91. The Bank of Korea kept its policy rate unchanged at 2.5%, supporting financial stability amid a weakened currency and market concerns on rising housing prices.

Australia's S&P/ASX 200 rose 0.1% to 8,617.30 while Taiwan’s tech-heavy Taiex index added 0.5%. India's BSE Sensex was up 0.3%. On Wednesday, U.S. stocks closed broadly higher, with the S&P 500 gaining 0.7% to 6,812.61. The Dow Jones Industrial Average gained 0.7% to 47,427.12, and the Nasdaq composite added 0.8% to 23,214.69.

Stocks have been rallying as comments from Federal Reserve officials have given traders more confidence the central bank will again cut interest rates at its meeting in December. Traders are betting on a nearly 83% probability that the Fed will cut next month, according to data from CME Group. Solid gains for technology companies led the rally, though most sectors in the benchmark S&P 500 index finished higher.

Gainers also outnumbered decliners by more than 2 to 1 on the New York Stock Exchange. US markets have a shortened trading week due to the Thanksgiving holiday, closing on Thursday and opening for shorter hours on Friday.