Asia-Pacific markets rose in choppy trading Thursday, as investors assessed the Federal Reserve’s decision to cut interest rates by a half-percentage point.
The Nikkei 225 popped 775.16 points, or 2.1%, to 37,155.33.
The Bank of Japan has kicked off a two-day meeting ending Friday, where the central bankers will make a key rate decision, after the central bank ended its decades-long ultra-low interest rates regime earlier this year.
The Japanese yen strengthened slightly to 142.18 against the U.S. dollar in afternoon trading.
In Hong Kong, the Hang Seng Index returned from holiday to gain 357.14 points, or 2%, to 18,013.16.
The Fed lowered its benchmark borrowing rate by a half percentage point, bringing its target range to 4.75% to 5%.
In lockstep with the Fed, the Hong Kong Monetary Authority cut its interest rate by 50 basis points to 5.25%, as the city’s currency is pegged to the greenback.
Taiwan’s central bank is set to make a key rate decision Thursday, and release its revised economic growth and inflation forecasts for this year.
Australia’s national seasonally adjusted unemployment rate remained steady in August at 4.2%, according to Australian Bureau of Statistics, in line with Reuters-polled analysts’ expectation, while employment additions at 47,500 surpassed estimates of 25,000 additions.
New Zealand’s GDP for the second quarter contracted by 0.2% from the previous quarter, according to the official data released Thursday morning, less than Reuters poll estimates of a 0.4% decline.
CHINA
In Shanghai, the CSI 300 added 25.03 points, or 0.8%, to 3,196.04, led by real estate stocks which were up more than 3%.
In other markets,
In Korea, the Kospi nosed ahead 5.39 points, or 0.2%, to 2,580.80
In Singapore, the Straits Times Index regained 40.76 points, or 1.1%, to 3,633.18.
In Taiwan, the Taiex index ballooned 363.85 points, or 1.7%, to 22,042.69.
In New Zealand, the NZX 50 recovered 78.02 points, or 0.6%, to 12,665.
In Australia, the ASX 200 picked up 49.86, or 0.6%, points to 8,191.92.