Market Overview

Japan’s Nikkei 225 crosses 30,000 for first time in more than three decades; Asia-Pacific stocks rise

Stocks in Asia-Pacific rose on Monday, with multiple markets in North Asia closed for Lunar New Year holidays. In Japan, the Nikkei 225 surged past the 30,000 level for the first time in more than 30 years, according to data from Refinitiv. It rose 1.91% on Monday to 30,084.15 while the Topix index gained 1.04% to close at 1,953.94.

Government data released Monday showed Japan’s economy growing 12.7% on an annualized basis between October and December last year. The preliminary reading for fourth-quarter gross domestic product was higher than economists’ median estimate of a 9.5% gain, according to Reuters. South Korea’s Kospi also saw robust gains as it jumped 1.5% to close at 3,147. Stocks in Australia edged higher, with the S&P/ASX 200 up 0.91% on the day to 6,868.90.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.57%. Markets in China, Hong Kong, Taiwan were closed on Monday for holidays.

Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures up 1.52% to $63.38 per barrel. U.S. crude futures gained 2% to $60.66 per barrel. The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.344 after weakening earlier this month from the 91.2 handle.

Japan’s Nikkei 225 crosses 30,000 for first time in more than three decades; Asia-Pacific stocks rise, CNBC, Feb 15

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