Asian markets today: South Korea’s Kospi also reached an all-time high of 6,538.72, climbing 1.75%, while the small-cap Kosdaq index edged up 0.58%, on Thursday.(Photo: AP)AI Quick ReadAsian markets today: Asian markets mostly traded higher on Thursday, 23 April, following overnight gains in US markets. Investor sentiment was boosted by US President Donald Trump’s extension of the Iran ceasefire, along with strong corporate earnings.
Japan’s Nikkei 225 hit an all-time high of 60,013.98, led by robust buying in technology stocks. SoftBank Group Corp jumped more than 6%, while Mitsubishi Heavy Industries rose 1.86%.
South Korea’s Kospi also reached an all-time high of 6,538.72, climbing 1.75%, while the small-cap Kosdaq index edged up 0.58%. The country’s economy expanded faster than expected in the first quarter, marking its strongest growth since the third quarter of 2020.
Shares of Samsung Electronics reached a new intraday record of 227,000. Meanwhile, investors kept a close watch on labour developments, as over 30,000 workers were expected to participate in a rally ahead of a planned strike next month.
Meanwhile, Australia’s S&P/ASX 200 traded in a volatile range, ending slightly higher by 0.32%, on Thursday.
Hong Kong’s Hang Seng index futures stood at 26,169, nearly unchanged from the previous close of 26,163.24, with investors awaiting the release of March inflation data for further cues.
Back home, trends in Gift Nifty signalled a negative start to the Indian stock market. The index was trading 111 points or 0.46% down to 24,253 as compared to the previous close of 24,364.
Donald Trump on Tuesday extended the US ceasefire by two weeks, stating the decision was justified given Tehran’s “deeply fractured” government.
“Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until their leaders and representatives can come up with a unified proposal,” Trump said in a post on social media platformTruth Social.
He added that the ceasefire would remain in place until Tehran presented a proposal or negotiations concluded, while the US military would maintain its blockade of Iranian ports.
However, the timeline remains unclear. Iranian state media reported on Wednesday that Tehran’s representatives would not participate in the talks with the US, dismissing them as a “waste of time.” Reports suggest Iran’s lack of commitment also led Vice President JD Vance to halt his trip for the peace discussions. At the same time, Iran’s navy announced it had seized two container ships in the Strait of Hormuz.
Futures for the S&P 500 edged down 0.1%, while Nasdaq 100 futures hovered near flat. Meanwhile, futures linked to the Dow Jones Industrial Average declined by 173 points, or 0.4%.
On Wednesday, the Dow Jones Industrial Average rose 340.65 points, or 0.69%, to close at 49,490.03. Meanwhile, the S&P 500 advanced 73.89 points, or 1.05%, to 7,137.90, and the Nasdaq Composite climbed 397.60 points, or 1.64%, to settle at 24,657.57.
Robust corporate earnings, a renewed surge in the artificial intelligence trade, and a generally resilient economy have supported stock markets despite ongoing geopolitical uncertainties.
According to Bloomberg data, nearly 80% of S&P 500 companies that have reported first-quarter results so far have exceeded analysts’ earnings expectations.
(With inputs from agencies)
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.