Asia Markets Mixed as Japan’s Third-Quarter GDP Revised Downward, India Rate Decision Awaited

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Asia-Pacific markets were mixed as Japan’s third-quarter GDP was revised downward in a surprise move, while investors also awaited India’s central bank rate decision.

Japan’s third-quarter GDP was revised downward to a 0.7% fall quarter-on-quarter, a sharper slide compared with the 0.5% decline estimated earlier. Economists had forecast that the revised figure would be unchanged at 0.5%

The Reserve Bank of India will also release its rate decision on Friday, with a Reuters poll of 64 economists unanimously forecasting that the bank will keep its benchmark policy rate steady at 6.5% for the fourth straight time.

In Australia, the S&P/ASX 200 rose marginally, reversing earlier losses.

Japan’s Nikkei 225 tumbled 1.42% after the GDP data release, while the Topix fell 1.13%.

South Korea’s Kospi climbed 0.79% and the small-cap Kosdaq advanced 0.93%.

Hong Kong’s Hang Seng index rebounded, up 0.15%, while the mainland Chinese CSI 300 traded close to the flatline.

TICKER COMPANY NAME PRICE CHANGE %CHANGE 
.N225Nikkei 225 Index*NIKKEI32254.25-604.06-1.84
.HSIHang Seng Index*HSI16408.1762.280.38
.AXJOS&P/ASX 200*ASX 2007194.921.60.3
.SSECShanghai*SHANGHAI2978.6312.420.42
.KS11KOSPI Index*KOSPI2518.5526.481.06
.FTFCNBCACNBC 100 ASIA IDX*CNBC 1008369.727.410.33

Overnight in the U.S., all three major indexes gained ground as the Dow Jones Industrial Average and S&P 500 broke three-day losing streaks, ahead of Friday’s all-important jobs report.

The S&P 500 climbed 0.8%, while the blue-chip Dow added 0.17%. The Nasdaq Composite advanced 1.37% as technology stocks outperformed.

Google-parent Alphabet gained more than 5% as traders cheered the company’s launch of its Gemini artificial intelligence model. Nvidia and AMD also added more than 2% and 9%, respectively.

Source : CNBC