Asia-Pacific markets trade mixed on Thursday following Wall Street's after another record-setting rally, traders also kept an eye on China’s key gathering which is expected to set policies for next year after stimulus signals from the Politburo earlier in the week. Traders in Asia also assessed jobs data from Australia, which showed the country’s unemployment rate fell to an 8-month low. Japan ( NKY:IND ) rose +1.51% to surpass 40,000 while the broader Topix Index jumped 1.2% to 2,782 on Thursday, with Japanese shares hitting multi-month highs. The Japanese yen remained around 152.3 per dollar on Thursday, after a three-day decline, as uncertainty about the timing of potential interest rate hikes by the Bank of Japan continued to weigh on the currency. China ( SHCOMP ) rose +0.60% reaching around 3,445, while the Shenzhen Component climbed 0.7% to 10,930 on Thursday, as optimism grew over potential additional stimulus measures from China. Investors are closely monitoring developments at China’s annual Central Economic Work Conference, which began on Wednesday and serves as a forum for top officials to assess the economy and set priorities for 2025. Adding to the optimistic sentiment, the Asian Development Bank maintained its GDP growth forecasts for China at 4.8% in 2024 and 4.5% in 2025. Meanwhile, US president-elect Donald Trump has invited Chinese President Xi Jinping to attend his inauguration in Washington next month, CBS News said. In other news, Treasury Secretary Yellen called on the incoming US administration to keep the dialogue she re-established with China open. Hong Kong ( HSI ) rose +1.57% to 20,214 in Thursday morning trade, ending losses from the prior two sessions. India ( SENSEX ) fell -0.07% almost flat in early deals on Thursday, trading around 81,503, remaining muted for the third straight session, as traders were cautious ahead of the release of domestic inflation data later today. Australia ( AS51 ) fell -0.28% to above 8,380 on Thursday, recouping some losses from earlier in the week. The Australian dollar appreciated past $0.64 on Thursday, rebounding from a one-year low touched in the previous session, as stronger-than-expected jobs data prompted traders to dial back bets on an earlier interest rate cut. The unemployment rate in Australia fell to an eight-month low of 3.9% in November , compared to forecasts of 4.2%. The South Korean won ( USD:KRW ) tumbled past 1,430 per dollar, moving back to its lowest level in over two years, as the Bank of Korea is expected to deliver a back-to-back rate cut in January. Meanwhile, traders remain focused on political instability, as President Yoon Suk Yeol has refused to step down despite parliament’s impeachment push. In the U.S., on Wednesday, all three major indexes ended mixed , the S&P 500 gained 0.9% on Wednesday, moving closer to its all-time highs, while the Nasdaq 100 surged 1.7%, reaching a new record. This rally followed November's inflation report, which aligned with economists' expectations. U.S. stock futures pulled back slightly on Thursday after another record-setting rally, with the tech-heavy Nasdaq Composite closing above the 20,000 for the first time: Dow -0.16% ; S&P 500 -0.11% ; Nasdaq -0.15% . Traders anticipated domestic headline inflation on Thursday for clues about the central bank's future monetary policy path. In addition, major central banks, including the ECB, SNB, and BoC, are expected to lower rates this week. Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: Australia's jobless rate falls to 8-month low of 3.9% in November China's trade surplus largest in 5 months; exports slow while imports fall amid trade uncertainties Chinese fintech stocks surge after China signals looser monetary policy Reserve Bank of Australia holds cash rate steady at 4.35%, adopts mildly dovish stance China's consumer inflation falls below forecasts, drops to a five-month low in November
