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The Nikkei 225 Index advanced 0.9% to above 59,000 while the broader Topix Index rose 1.3% to 3,895 on Thursday, with both benchmarks notching fresh record highs as fading expectations of an imminent Bank of Japan rate hike underpinned risk appetite. On Wednesday, Prime Minister Sanae Takaichi nominated two reflation-leaning academics to the central bank’s policy board, reinforcing views that the BOJ will proceed cautiously with any additional policy tightening. Japanese equities also followed Wall Street higher as software and other technology shares rebounded overnight. However, upbeat earnings from Nvidia failed to lift its stock materially, highlighting lingering concerns about the durability of the AI-driven rally. Notable gainers in Tokyo included index heavyweights such as Fujikura (+2.5%), JX Advanced Metals (+3.6%), Mitsubishi Heavy Industries (+4%), SoftBank Group (-5.1%) and Mitsubishi UFJ (+2.9%).

Japanese Shares Scale Fresh Record Highs

The S&P/ASX 200 rose 0.4% to above 9,100 in early Thursday deals, extending its rally to a fresh record peak, as gains in local mining stocks and a strong tech-driven lead from Wall Street lifted the market. Local software stocks led the advance, climbing nearly 4.5% after strong earnings from US tech giants Nvidia and Oracle boosted optimism around the AI trade. Logistics software provider WiseTech Global extended gains, up over 6% to a two-week high, while Xero and Technology One added 5.5% and 3.7%, respectively. The heavyweight mining sector also rallied for the fourth straight session, rising 1.6% to an all-time high, driven by robust underlying commodity prices and a nearly 5% surge in Lynas Rare Earths after the world’s largest rare-earths producer posted its strongest first-half profit in three years. Meanwhile, the rate-sensitive financial sub-index fell 0.3% after hotter-than-expected inflation print a day earlier reinforced bets of additional rate hikes this year.

Australian Stocks Extend Record Rally

The South Korean Won touched 1423.00 against the USD, the highest since January 2026. Over the past 4 weeks, US Dollar South Korean Won lost 1.24%, and in the last 12 months, it decreased 0.52%.

South Korean Won Hits 4-week High

US stock futures were little changed on Thursday as investors assessed another wave of corporate earnings. In extended trading, Nvidia swung between gains and losses after topping analysts’ estimates on both revenue and profit, offering reassurance amid mounting concerns about a potential AI bubble. Meanwhile, Salesforce slid nearly 5% after issuing softer-than-expected fiscal 2027 revenue guidance, reviving worries about weakness across the embattled software sector. During Wednesday’s regular session, the Dow advanced 0.63%, the S&P 500 climbed 0.81% and the Nasdaq Composite surged 1.26%. Software shares led the gains, with Oracle rising 1.2% following a bullish analyst upgrade, while Microsoft and Palantir added 3% and 4.2%, respectively. Doubts surrounding AI-driven service models continued to ease after Anthropic’s latest integrations framed artificial intelligence as complementary to, rather than disruptive of, legacy software platforms.

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