The Exchange Centre, which houses the Australian Securities Exchange (ASX), in Sydney, Australia, on Tuesday, Aug. 12, 2025. The S&P/ASX 200 index extended gains to 0.3% after the central bank cut the key cash rate by 25 basis points, a move widely expected by economists and markets. Photographer: Lisa Maree Williams/Bloomberg via Getty Images
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Asia-Pacific markets rose Thursday following a tech rally overnight on Wall Street that lifted the S&P 500 and Nasdaq Composite, even as growing fears around the economy weighed on equities.
Japan’s benchmark Nikkei 225 rose 0.57% in early trading, while the Topix index increased 0.41%.
Over in Australia, the S&P/ASX 200 benchmark climbed 0.67%.
Futures for Hong Kong’s Hang Seng index stood at 25,332, slightly lower than its last close of 25,343.43.
Australia is set to release its household spending data for July later in the day.
Global bond markets will continue to be in focus with long-dated borrowing costs around the world under pressure. The U.S. 30-year Treasury yield nudged above 5% on Wednesday morning for the first time since July after a court ruled that most of the Trump administration’s tariffs are illegal, raising questions over the future of tariff revenues.
Japan’s 30-year bond yield was at a record high on Wednesday, with a 100 basis point rise this year driven by high inflation, low real rates and political uncertainty.
Overnight stateside, the three major averages closed mixed. The S&P 500 rose Wednesday, boosted by tech shares after a federal court decision in an Alphabet antitrust case fueled optimism that the tech giants would be able to weather regulatory threats.
The tech-heavy Nasdaq Composite gained 1.03% to end the day at 21,497.73, while the S&P 500 climbed 0.51% to finish at 6,448.26. The Dow Jones Industrial Average lagged, falling 24.58 points, or 0.05%, to settle at 45,271.23.
— CNBC’s Jenni Reid, Sean Conlon and Pia Singh contributed to this report.
