Asian stocks rally, led by Japan and China, as tech valuation jitters recede

Asia stocks rise on Thursday, with key indices in Japan and China leading the gains, as a rebound on Wall Street overnight lifted global risk appetite, the upbeat ￰0￱ payrolls data helped ease concerns overstretched AI ￰1￱ participants were also busy factoring in the latest release of Australian trade ￰2￱ prices traded around $3,980 per ounce on Thursday, moving within a tight range near a four-week low as investors continued to scale back bets on US rate ￰3￱ Korea’s current account surplus rose to $13.47 billion in September 2025, the highest in three months, driven by strong semiconductor and automobile exports along with higher dividend ￰4￱ ( NKY:IND ) rose 1.40% to around 50,900 while the broader Topix Index gained 1.1% to 3,304 on Thursday, with Japanese shares recouping losses from earlier in the ￰5￱ Japanese yen strengthened past 154 per dollar on Thursday, recovering from the previous session’s losses, as steady wage growth reinforced expectations that the Bank of Japan will stay on its tightening ￰6￱ S&P Global Japan Services PMI came in at 53.1 in October 2025, above the flash estimate of 52.4 but slightly below September’s 53.3, signaling a continued expansion in the services ￰7￱ wages rose 1.9% in September, up from a 1.5% gain in August, supported by stable base pay and a modest rise in overtime income.

Still, wage growth lagged behind the 3.4% increase in consumer prices, resulting in a 1.4% drop in real wages and marking the ninth consecutive monthly ￰8￱ ( SHCOMP ) rose 0.82% to around 3,990 while the Shenzhen Component advanced 1.2% to 13,380 on Thursday, marking a second straight session of gains, and the offshore yuan China will remove tariffs on certain US optical fiber imports starting November 10, according to an announcement by the Ministry of Commerce on Wednesday. Meanwhile, China is planning to raise up to USD $4 billion through a two-tranche dollar bond offering, just a week after its trade war truce with Washington, according to a term sheet seen by ￰9￱ shares also rose further after Premier Li Qiang said China’s economy is projected to top CNY 170 trillion within five ￰10￱ also awaited China’s October trade and inflation data due later this week for signals on economic momentum, even as Sino-US trade tensions intensified during the ￰11￱ Kong ( HSI ) rose 1.59% to 26,245 in early Thursday trading, rebounding from a muted close in the prior session amid broad-based sector ￰12￱ ( SENSEX ) rose 0.02% hovering around 83,424 after falling in Tuesday’s session, while moving away from a three-week low, as gains in the tech and auto sectors offset declines in banking, financial services, and ￰13￱ the data front, the final India Services PMI was revised slightly ￰14￱ ( AS51 ) rose 0.29% to around 8,850 in early Thursday trade, snapping a two-session losing ￰15￱ Australian dollar steadied around $0.651 on Thursday, holding its recent gain, as stronger-than-expected trade data supported sentiment.

Australia’s trade surplus widened sharply to AUD 3.94 billion in September from a revised AUD 1.11 billion in August, beating forecasts of AUD 3.85 ￰16￱ exports rose 7.9% mom to AUD 44.58 billion in September 2025, rebounding from an upwardly revised 8.7% decline in ￰17￱ imports increased 1.1% month-on-month to a fresh record of AUD 40.64 billion in September ￰18￱ the ￰19￱ Wednesday, all three major indexes ended higher as buyers stepped in following Tuesday’s pullback and the Supreme Court’s skeptical questioning of the Trump tariff case trimmed near-term tariff ￰20￱ futures were little changed on Thursday, after the major averages advanced in the previous session as dip buyers returned: Dow flat; S&P 500 -0.04% ; Nasdaq -0.13% .

Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: China’s factory growth cools to 50.6 in October, export uncertainty rises Australia's factory activity contracts for first time in 2025 to 49.7 in October Australian monthly inflation eases slightly, annual figures show persistent pressure China's economic slowdown deepens as factory activity hits six-month low to 49.0 in October Australia Q3 producer inflation hits one-year high, rises by 1.0% Q/Q