Major stock markets in the Asia-Pacific region rose this morning (September 9), supported by significant gains in the three major U.S. stock indices last Friday (September 6). The Japanese and Thai stock markets, stimulated by their ruling parties' election victories, outperformed other regional markets.
The People's Bank of China conducted a seven-day reverse repo operation in the open market, with a net injection of 38 billion yuan. The Shanghai Composite Index rose 47 points or 1.2% in the morning session to 4,113 points; the Shenzhen Component Index rose 287 points or about 2% to 14,194 points. The Hong Kong Hang Seng Index rose 385 points or 1.5% in the morning session to 26,945 points, with a turnover of 136.3 billion yuan. The Taiwan Weighted Index rose 782 points or 2.5% to 32,565 points. Taiwan Semiconductor and Delta Electronics rose 2.3% and 2.6%, respectively, while Hon Hai Precision Industry rose 1.4%. MediaTek surged 7%, with the market continuing to anticipate the company’s supply of customized chips for Google.
Japan's ruling Liberal Democratic Party achieved an overwhelming victory in the general election, fueling market expectations for expansionary fiscal policy. The Nikkei Index rose 2,234 points or 4.1% in the afternoon session to 56,488 points, having gained as much as 3,083 points earlier to reach a high of 57,337 points, setting a new historical record. Advantest and DISCO surged 13.1% and 9.7%, respectively, while SoftBank Group and Fast Retailing rose 7.4% and 5.2%.
South Korea's KOSPI Index rose 177 points or 3.5% to 5,267 points. Samsung Electronics is reportedly set to begin mass production of its HBM4 high-bandwidth memory this month, with its shares rising 5%. Peer company SK Hynix rose 4.9%. Additionally, tech investment firm SK Square surged 10.3%, while defense stock Hanwha Aerospace climbed 4.8%.
India's Nifty 50 Index rose 120 points or 0.5% to 25,813 points. State Bank of India (SBID) reported better-than-expected quarterly earnings, with its shares climbing 6.2% to a new high. Australia’s S&P/ASX 200 Index rose 163 points or 1.9% near the close to 8,872 points. Commodity markets stabilized, with mining stocks BHP Group Ltd and Rio Tinto each gaining 2.1%, while gold miner Newmont rose 6.8%. New Zealand's NZX 50 Index edged up 2 points near the close to 13,446 points.
Singapore's Straits Times Index rose 32 points or 0.7% to 4,966 points, having reached a new high of 4,981 points earlier in the session. DBS Group fell 1.3% against the trend; the bank reported a fourth-quarter net profit of 2.258 billion Singapore dollars, down 10.47% year-on-year and below expectations. ST Engineering and Keppel Corporation rose 4% and 3.8%, respectively, while SGX Group climbed 2.6%. Thailand's stock market rose 3.5%, following an unexpected election victory by Prime Minister Anutin Charnvirakul's Bhumjaithai Party. Stock markets in Malaysia, Indonesia, and the Philippines rose between 0.7% and 1%. Vietnam's Hanoi Stock Exchange rose 0.5%, while the Ho Chi Minh Stock Exchange fell 0.2%.
