This is CNBC’s live blog covering the Asia-Pacific market.
Asia-Pacific markets traded higher on Thursday, and Wall Street read stronger than expected US inflation, breaking Wall Street’s overnight decline as the outlook for policy easing by the US Federal Reserve fell Ta.
Australia’s S&P/ASX 200 hit a record high of 8,575.2, surpassing its previous peak of 8,566.9, which was scaled down on January 31st.
Japan’s Nikkei 225 rose 1.28% to close at 39,461.47, while Topix rose 1.18% to close at 2,765.59. Korea’s Kospi traded 1.36% higher and ended the day at 2,583.17, while the small Kosdaq went up 0.55% to close at 749.28.
Hong Kong’s Hangsen index rose 0.42% in the last hour of trade, while mainland China’s CSI 300 slipped 0.38%, closing at 3,905.14.
India’s benchmark Nifty 50 rose 0.59%, while the BSE Sensex index was 0.67% higher at 1.03pm local time.
In the US, bond yields skyrocketed after the S&P 500 fell overnight, and consumer prices rose more than expected in January.
The broad market index closed at 6,051.97 from 0.27%, with the Dow Jones Industrial Average falling to 44,368.56 to 225.09 points (0.5%). Nasdaq Composite closed a gain of 0.03% at 19,649.95.
Latest inflation data suggests that the Fed is unlikely to resume its rate cut campaign any time soon, raising concerns that the next move could even be a hike.
In his testimony before a House Committee on Financial Services on Wednesday, Federal Reserve Chair Jerome Powell reminds us of the Fed’s progress in the latest CPI data moves close to the 2% target. He said it would serve as a but “I admit that it’s not perfect. Still.”
Indian Prime Minister Narendra Modi has traveled to the US for a meeting with President Donald Trump and his administration, and is expected to mitigate mutual tariff threats and artificial intelligence policies.
– CNBC’s Pia Singh and Brian Evans contributed to this report.
Nissan’s Honda stock rise after the committee voted to end the merger discussion
Japanese automakers Honda and Nissan are expected to close merger talks, according to Tokyo-based media outlet TBS.
Honda is scheduled to hold a press conference at 4:50pm local time, according to the report.
Stock prices of both companies rose today, with Honda rising 2.35% and Nissan rising 1.25%.
—Lee Ying Shan
South Korea reportedly fined JPMorgan, Morgan Stanley, Nomura and UBS for short-selling violations
South Korean market regulators fined JPMorgan, Nomura, UBS and Morgan Stanley for violating short-term sales restrictions in local stock markets, Reuters reported Thursday citing sources .
According to an official quoted by Reuters, it “concluding the administrative sanctions, which meant impose a fine.”
—Lee Ying Shan, Reuters
Australian stocks hit their second high in two weeks
The Australian benchmark S&P/ASX 200 expanded its record peak on Thursday, reaching its daytime high of 8,575.2.
This surpassed the previous high of 8,566.9 hits on January 31st.
This happens amid a wider rally of Asian stocks, in contrast to the move on Wall Street after US inflation rates rose higher than expected.
– Lim Hui Jie
Alibaba shares a surge to a 31-month high as it suggests an AI partnership with Apple
Shares of Hong Kong-listed Chinese tech giant Alibaba rose to its highest level since 2022 on Thursday, earning the daytime top of HK$118.9.
This is reportedly being partnered with Alibaba to launch artificial intelligence capabilities for iPhone users in China on February 11th.
The AI features a jointly developed company submitted to China’s cyberspace regulator for approval, the information reports.
Tech Giant shares have been gathering since news broke, rising 8.48% on Wednesday.
– Lim Hui Zi, Reuters
SoftBank shares decrease after posting loss of profit
SoftBank Group shares fell 3.6% after recording quarterly losses on Wednesday as investments under the Vision Funds went red.
Japanese companies’ revenues also missed analyst estimates.
The company’s vision fund investment recorded a loss of 35.275 billion yen in the quarter ended December 31st.
– Lee In Shan, Dylan Butts
Powell shows Trump won’t affect policy by seeking lower fees
Nathan Howard | Reutersu.S. Federal Reserve Chair Jerome Powell testifies before the House Financial Services Committee on “Semi-annual Monetary Policy Report to Congress” at Capitol Hill, Washington, DC, on February 12, 2025.
Federal Reserve Chairman Jerome Powell said Wednesday that interest rate decisions were not based on political pressure, even if they come from President Trump.
Asked about comments from the president who asked for a lower fee Wednesday morning, Powell said, “It’s a practice to never comment on what the president says, but people are convinced that we’re continuing to bow.” I think we can. Do our job and make decisions based on what is happening in the economy.”
The response came during a questioning before the House Financial Services Committee. There, Powell appeared as part of his six-month testimony on monetary policy. The statement from the elected official was asked if it was “not one of the things that will cause you to act in any way,” the chairman replied, “That’s right.”
– Jeff Cox
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