Asia Mostly Climbs on Trade Optimism

Asia-Pacific markets traded mostly higher as the latest trade developments between the U.S. and Japan, as well as positive signs for a deal with the European Union, spurred investor optimism.

In Japan, markets continued their surge Thursday, with the Nikkei 225 gaining another 655.02 points, or 1.6%, to 41,826.34.

In Hong Kong, the Hang Seng added 129.11 points, or 0.5%, to 25,667.68.

CHINA

In Shanghai, the CSI 300 moved up 29.27 points, or 0.7%, to 4,149.01.

China is planning to offer subsidy coupons to seniors in a rare use of direct fiscal support as Beijing seeks to ease the financial strain on its aging population and drive consumption of elderly-care services.

The allowances will be paid monthly in the form of electronic coupons to cover part of the costs for seniors’ care services, according to a joint statement issued by the ministry of civil affairs and ministry of finance on Wednesday.

Chinese policymakers have avoided direct cash handouts similar to what the U.S. and Hong Kong offered during the pandemic to stimulate spending, even as they step up efforts to support employment and improve social welfare.

In other markets

In Korea, the Kospi index recovered 13.83 points, or 0.4%, to 3,183.77.

In Singapore, the Straits Times index moved forward 41.77 points, or 1%, to 4,273.05.

In Korea, the Kospi index inched up 8.68 points, or 0.2%, to 3,190.45.

In Taiwan, the Taiex index hiked 55.06 points, or 0.2%, to 23,373.73.

In New Zealand, the NZX 50 edged up 11.07 points, or 0.1%, to 12,805.13.

In Australia, the ASX 200 shed 27.75 points, or 0.3%, to 8,708.41.