Asia-Pacific Markets Mixed as Investors Weigh Economic Data and Central Bank Decisions
Asia-Pacific markets saw mostly positive momentum on Monday, with investors digesting Japan's stronger-than-expected GDP growth while awaiting key central bank policy decisions across the region this week.
Japan and South Korea Lead Gains
Japan’s Nikkei 225 hovered around the flatline before closing at 39,174.25, while the Topix index gained 0.28%, settling at 2,766.9. In South Korea, the Kospi climbed 0.75% to 2,610.42, with the small-cap Kosdaq advancing 1.61% to 768.48.
Japan's fourth-quarter GDP outpaced analyst forecasts, growing at an annualised rate of 2.8%, surpassing Reuters' estimate of 1%. The yen strengthened, trading at 151.5 against the U.S. dollar following the positive economic data.
Mixed Performance in China and Australia
In Australia, the S&P/ASX 200 dipped 0.22%, closing at 8,537.1 ahead of the Reserve Bank of Australia’s (RBA) two-day policy meeting, where a rate cut decision is expected on Tuesday.
In China, Tencent shares surged to their highest levels since July 2021, gaining 4.25%, driven by Weixin messaging app's beta testing of Deepseek integration, according to LSEG data. Meanwhile, Hong Kong's Hang Seng Index edged 0.15% lower, while the Hang Seng Tech Index dropped 0.38%. Mainland China’s CSI 300 saw a modest rise of 0.21%, closing at 3,947.40.
Thailand’s Economic Growth Falls Short of Expectations
Thailand's fourth-quarter GDP expanded by 3.2% year-on-year, falling short of Reuters' forecast of 3.9%, as per LSEG data. The country's full-year GDP growth stood at 2.5%, reflecting weaker-than-expected economic momentum.
Upcoming Central Bank Decisions
The Reserve Bank of Australia (RBA) has kicked off its two-day policy meeting, with expectations for an interest rate cut on Tuesday. Investors are also awaiting rate decisions from Indonesia and New Zealand’s central banks, scheduled for Wednesday.
Prices and figures quoted were correct at the time of writing.
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