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Asian stocks advanced on Thursday as companies like Alphabet and SK Hynix posted encouraging earnings and media reports suggested that the EU and U.S. are closing in on a trade deal that would impose 15 percent tariffs on European imports.<\/p>\n
Gold traded weak around $3,375 per ounce in Asian trade and the dollar held at more than two-week low ahead of the ECB interest-rate decision, while oil climbed following a string of losses. <\/p>\n
China’s Shanghai Composite index jumped 0.65 percent to 3,605.73 on signs of easing U.S.-China tensions before vital trade talks. <\/p>\n
Hong Kong’s Hang Seng index rose 0.51 percent to 25,667.18 as a summit between China and the European Union (EU) kicked off in Beijing, with leaders set to discuss issues ranging from trade conflict to the war in Ukraine. <\/p>\n
Japanese stocks logged strong gains for a second straight session on optimism over the new U.S.-Japan trade deal. <\/p>\n
The Nikkei average ended up 1.59 percent at 41,826.34, after having crossed the psychological 42,000 mark earlier for the first time since July of last year. <\/p>\n
The broader Topix index surged to 2,986.63 for the first time ever before settling 1.75 percent higher at 2,977.55.<\/p>\n
Seoul stocks eked out modest gains as chip giant SK Hynix posted record profits on surging AI demand, and new data showed South Korea avoided a technical recession. <\/p>\n
Data showed GDP grew 0.6 percent quarter-on-quarter in Q2 2025 after a 0.2 percent contraction in Q1. The Kospi average edged up by 0.21 percent to 3,190.45. <\/p>\n
Australian markets<\/span> ended slightly lower despite easing trade tensions and encouraging July manufacturing data. The benchmark S&P\/ASX 200 dropped 0.32 percent to 8,709.40 while the broader All Ordinaries index slipped 0.24 percent to close at 8,979.40.<\/p>\n Macquarie Group shares plummeted 5.1 percent after the investment bank reported a dip in first-quarter profit and announced the departure of its chief financial officer. <\/p>\n Across the Tasman, New Zealand’s benchmark S&P\/NZX-50 index finished marginally higher at 12,805.13, ending a two-day decline. <\/p>\n U.S. stocks climbed overnight as President Donald Trump announced trade deals with Japan and the Philippines, sparking optimism for similar agreements with other major economies ahead of the looming tariff deadline.<\/p>\n Investors shrugged off data that showed U.S existing home sales hit a nine-month low in June.<\/p>\n The tech-heavy Nasdaq Composite Nasdaq and the S&P 500 gained 0.6 percent and 0.8 percent, respectively to reach new record closing highs while the Dow jumped 1.1 percent. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n