Shares in the Asian region advanced for a second day on Thursday as Australia reported an upbeat trade surplus on exports to China and comments from the deputy governor of the Bank of Japan (BoJ).
Market participants are looking forward to the release of the US unemployment and payroll reports tomorrow and the European Central Bank (ECB) decision on the monetary policy.
The Japanese Nikkei 225 index climbed 0.18% higher at 14,155.12 points, while Tokyo’s Topix index declined 0.02% lower, closing at 1,162.37 points. Hong Kong’s Hang Seng index climbed 0.60% to 21,395.19 points at the time of writing, while the Shanghai Stock Exchange closed for the Chinese New Year holiday. Korea’s benchmark Kospi index advanced 0.88% higher, closing at 1,907.89 points.
Stocks – BoJ, ECB
Kikuo Iwata, Deputy Governor of the Bank of Japan (BoJ) commented on the bank’s monetary easing, saying the bank would continue its monetary easing until the inflation rate reaches the bank’s 2% target.
Meanwhile, European Central Bank policymakers are expected to meet to discuss the bank’s interest rate after inflation slowed to a four-year low last month. Analysts are expecting officials to maintain rates.
Stocks – Australia Upbeat Data
Stocks in Australia climbed on a string of positive macroeconomic data on Thursday. The country’s benchmark S&P/ASX index closed 1.20% lower at 5,131.40, while Australia’s trade balance came in higher in December as exports came in 4% higher from the November.
Australia reported a trade surplus of A$468 million in December, according t o the Australian Bureau of Statistics. Trade data with China, Australia’s biggest trading partner hit a record.
Australia’s retail sales came in 0.5% higher month-on-month in December, compared to the previous figures of 0.7% seen in November.
Stocks – US Payroll & Jobless Claims Report
With reports for the US payrolls and unemployment reports expected to be released on Friday, analysts are expected to see the US unemployment figures come in at 6.7% in January. US companies increased payrolls by 175,000 in January, according to reports from the ADP Research Institute.
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