People stand outside a store at Pitt Street Mall in Sydney, New South Wales, Australia, on Boxing Day.
Bloomberg | Bloomberg | Getty Images
Asia-Pacific markets opened higher on Thursday, with several markets still closed for Boxing Day.
Japan 225 rose 0.44%, while the Topix added 0.49%, a day after a report said the country was preparing a record $735 billion budget for their new fiscal year starting in April. This budget will account for increases in social security and debt servicing costs, a draft reviewed by Reuters showed.
Additionally on Wednesday, Bank of Japan Governor Kazuo Ueda said that “Japan's economy it moves closer to stability and sustainable 2 percent inflation (in 2025), coupled with wage increases.”
The yield on 10-year Japanese government bonds rose 1.3 basis points to 1.078%, while the yen strengthened to 157.16 against the dollar on Thursday, signaling market expectations that the bank may raise interest rates. on hand.
South Korea Kospi up 0.12% compared to yesterday.
Markets in Australia, New Zealand and Hong Kong were closed for the Boxing Day holiday.
Traders in Asia will be looking at November manufacturing output data due out of Singapore later in the day.
Efforts to stop decline in China's real estate market that will follow in 2025, the Chinese government announced Wednesday. The measures will include controlling the supply of commercial houses to ensure the best possible supply.
Overnight in the US, markets were closed for Christmas. Stocks jumped on Tuesday on Christmas Eve as the market pared back-to-back gains during the holiday week.
The S&P 500 has added 1.1% to 6,040.04, and the Dow Jones industrial average it gained 390.08 points, or 0.91%, to 43,297.03. The Nasdaq Composite climbed 1.35% to 20,031.13, helped by a 7.4% jump in Tesla shares.
Tuesday marked the start of the seasonal Santa Claus collection, which takes place during the last five trading days of the year and the first two in January.
— CNBC's Yun Li and Sean Conlon contributed to this story.
