Asian markets rebounded on Thursday, led by Japan and China, as investors returned to technology stocks following a sharp global selloff. Sentiment improved after Wall Street’s overnight rebound, while stronger Australian trade data added further support.
Japan’s Nikkei 225 rose 1.5%, recovering from a 2.5% drop the previous day. China’s CSI 300 climbed 1.4%, boosted by gains in technology and consumer shares. Hong Kong’s Hang Seng Index jumped 1.6%, with its tech sub-index soaring over 2% after reports suggested Beijing plans to ban the use of foreign AI chips in government-backed data centers — a move that fueled optimism for domestic chipmakers.
South Korea’s KOSPI added 1.3%, with analysts noting that recent pullbacks were largely due to profit-taking after strong gains.
Australia’s trade data surprised to the upside, with September’s surplus widening sharply to AUD 3.94 billion from AUD 1.11 billion, driven by surging exports. The S&P/ASX 200 index rose 0.3%. Singapore’s Straits Times Index gained 1.3%, while India’s Nifty 50 futures edged lower.
Corporate earnings were mixed: National Australia Bank (NAB) fell nearly 4% after reporting a slight profit decline, while Singapore’s DBS Group rose 3% on record quarterly revenue. UOB slid 3.5% as weaker margin guidance weighed on sentiment.