MANILA, Philippines (AP) — Asian shares rose on Thursday, taking their cue from Wall Street, where a winning streak extended to a fourth straight day.
U.S. futures were nearly unchanged while oil prices declined.
Japan’s Nikkei 225 added 1% to 50,069.33 as investors bet that the Federal Reserve will cut interest rates at its Dec. 10 meeting.
The Japanese government also reportedly plans to issue 11 trillion yen ($70.5 billion) in new bonds to fund its economic package. Tech-related stocks advanced, with SoftBank Group jumping 2.8% and Kioxia Holdings up 5.7% following a nearly 15% rout the day before.
In Chinese markets, Hong Kong’s Hang Seng index picked up 0.3% to 25,927.96, while the Shanghai Composite index edged 0.1% higher, to 3,883.01.
Gains were tempered by data that showed profits for the first ten months of 2025 at major Chinese industrial firms rose a lackluster 1.9% year-on-year, down from 3.2% growth in the previous period.
In South Korea, the Kospi added 0.7% to 3,986.54 after the Bank of Korea also kept its policy rate unchanged at 2.5%, supporting financial stability amid a weakened currency and market concerns on rising housing prices.
Australia’s S&P/ASX 200 rose less than 0.1% to 8,610.50 while Taiwan’s tech-heavy Taiex index added 0.2%.
On Wednesday, U.S. stocks closed broadly higher, with the S&P 500 gaining 0.7% to 6,812.61. The Dow Jones Industrial Average gained 0.7% to 47,427.12, and the Nasdaq composite added 0.8% to 23,214.69.
Stocks have been rallying as comments from Federal Reserve officials have given traders more confidence the central bank will again cut interest rates at its meeting in December. Traders are betting on a nearly 83% probability that the Fed will cut next month, according to data from CME Group.
Solid gains for technology companies led the rally, though most sectors in the benchmark S&P 500 index finished higher. Gainers also outnumbered decliners by more than 2 to 1 on the New York Stock Exchange.
U.S. markets have a shortened trading week due to the Thanksgiving holiday, closing on Thursday and opening for shorter hours on Friday.
The market’s recent rebound, fueled by investor hopes for another Federal Reserve interest rate cut in December, has helped erase most of the major indexes’ losses following a bout of selling earlier this month.
Dell Technologies climbed 5.8% after saying it has received record orders for its artificial intelligence servers. Dell and other technology companies had fallen earlier in the month as investors worried the prices for their stocks had gotten too frothy amid the frenzy over AI. Nvidia, the market’s most valuable company, rose 1.4%.