Asian stocks hit records as Nikkei tops 58000
Asian equity markets climbed to fresh highs on Thursday, with Japan’s Nikkei 225 breaking above the 58,000 mark for the first time, as investors looked past stronger than expected United States jobs data and focused on signs of economic resilience.
The MSCI Asia Pacific index rose 0.4 percent to a record level, extending its gains this year to around 13 percent. According to Reuters, the index is posting its strongest start to a year relative to the S&P 500 since the beginning of the century.
In Tokyo, the Nikkei 225 surpassed the 58,000 threshold for the first time in its history, touching an intraday peak of 58,015.08 before easing slightly. The benchmark advanced 0.4 percent in early trading and has surged 15 percent since the start of 2026. The rally has been fueled in part by Prime Minister Sanae Takaichi’s decisive election victory on Sunday, which investors believe strengthens her mandate to implement promised fiscal spending and tax relief measures.
Wataru Akiyama, a strategist at Nomura Securities, told Reuters that recent solid corporate earnings and the ruling Liberal Democratic Party’s strong performance under Takaichi have contributed to a pronounced upward trend in the market.
South Korea’s Kospi also reached a milestone, crossing the 5,500 level for the first time as it jumped more than 3 percent. Technology heavyweights led the gains, with Samsung Electronics rising 6.4 percent and SK hynix advancing 3.3 percent, according to Yonhap.
The advance in Asia came despite a mixed session on Wall Street overnight. Data from the US Labor Department showed nonfarm payrolls increased by 130,000 in January, well above the Dow Jones consensus estimate of 55,000. The unemployment rate edged down to 4.3 percent from 4.4 percent.
The Dow Jones Industrial Average slipped 0.1 percent, snapping a three day winning streak, while the Nasdaq Composite fell 0.2 percent. The stronger labor market figures prompted traders to scale back expectations for interest rate cuts by the Federal Reserve this year.
Elsewhere in the region, Australia’s S&P ASX 200 moved higher after Commonwealth Bank of Australia reported a record half year net profit of 5.45 billion Australian dollars, up 6 percent from a year earlier, lifting its share price.
Hong Kong’s Hang Seng index traded slightly higher as investors awaited China’s consumer inflation data. Earlier in the week, China’s central bank reiterated its commitment to supporting domestic demand.
The Japanese yen strengthened to around 153 per dollar, gaining nearly 3 percent since Takaichi’s election victory, as markets weighed the prospect of more disciplined fiscal policies under her administration.
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