Stocks in the Asia-Pacific traded mixed on Thursday, as investors assessed further risks of more rate hikes to come. A number of Federal Reserve speakers reiterated the central bank is yet to be finished with its hiking cycle, including Fed Governor Christopher Waller.
In Japan, the Nikkei 225 index lost 22.11 points, or 0.1%, to 27,584.35,
Shares of Japanese automaker Toyota reversed out of the red on Thursday after the company posted a 22% jump in operating profit for the October-December period of 2022 compared to the same period a year ago.
Meanwhile, for the three-month period ending in December 2022, the company’s net profit dropped to 745 million yen ($5.7 million U.S.) from the 819 million yen seen in the same period the previous year.
What’s more, a consortium led by investment fund Japan Industrial Partners have submitted a final acquisition bid to troubled Japanese conglomerate Toshiba after securing loans and capital worth about 1.4 trillion yen (US$10.6 billion) from major Japanese banks.
Under JIP’s offer, a total of about 20 Japanese companies, including Orix, Rohm and Chubu Electric Power, will also jointly invest around 1 trillion yen.
Nikkei reported that JIP expects to spend about two trillion yen on the acquisition, excluding Toshiba’s post-acquisition working capital.
Shares of Toshiba fell 1% on Thursday morning.
In Hong Kong, the Hang Seng Index leaped 340.84 points, or 1.6%, to 21,624.36.
Hong Kong-listed shares of casinos rose after Wynn Resorts and MGM Resorts released its latest earnings reports overnight.
Wynn Macau rose 4.69% in Hong Kong’s morning session. MGM China rose 3.88%, Sands China rose 2.5%, Galaxy Entertainment rose 1.33% and SJM Holdings rose 2.42%.
Australian markets were down as shares of Australia’s top power producer AGL Energy fell after posting a half-year loss in its latest periodic earnings.
In other markets
The Shanghai CSI 300 recovered 54.72 points, or 1.3%, to 4,130.86.
In Korea, the Kospi erased 2.12 points, or 0.1%, to 2,481.52.
In Singapore, the Straits Times fell 29.04 points, or 0.9%, to 3,359.48.
In Taiwan, the Taiex dropped 19.46 points, or 0.1%, to 15,598.71.
In New Zealand, the NZX 50 deleted 93.29 points, or 0.8%, to 12,118.67.
In Australia, the ASX 200 subtracted 39.73 points, or 0.5%, to 7,490.33.