Asian Markets Climb on Wall Street Rally, Rate Cut Hopes

Asian equities rose on Thursday, led by Japan’s Topix and Nikkei hitting record highs, as tech-fueled gains on Wall Street, strong earnings, and rising hopes for U.S. rate cuts lifted sentiment.

Taiwan’s TAIEX surged 2.6%, driven by a 4.9% rally in TSMC shares. South Korea’s KOSPI rose 0.6%, while Hong Kong’s Hang Seng gained 0.5%. Chinese stocks and the yuan firmed on upbeat trade data, easing tariff concerns.

Markets shrugged off Trump’s tariff threats, including a 25% levy on Indian oil imports and a proposed 100% chip duty. Barclays noted exemptions for U.S.-based investors could soften the impact, though details remain vague.

The euro and sterling strengthened ahead of the Bank of England’s rate decision, where a quarter-point cut is expected but a split vote looms. The dollar index eased to 98.13 as expectations of a dovish Fed grew amid weak data and Trump’s pending Fed nominations.

U.S. and European futures pointed higher, continuing momentum from Wednesday’s Wall Street rebound.