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Japan’s Nikkei 225 index hovers near record high of 40,000 and leads gains in Asia; Chinese markets rise after factory data

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Employees work at the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, Thursday, January 4, 2024.

Bloomberg | Bloomberg | Getty Images

Japan’s Nikkei 225 index was on course to hit a record high of 40,000, leading Asian stocks’ gains on Friday, while Chinese markets rose as investors digested manufacturing data from the continent.

Official data showed February’s manufacturing PMI stood at 49.1, in line with a Reuters poll forecast. Private Caixin Final Manufacturing PMI Index stood at 50.9, slightly higher than the 50.8 of the previous month.

A PMI above 50 indicates expansion, while a PMI index below 50 indicates contraction.

China’s CSI 300 index rose 0.2% after closing up almost 2% in the last session.

that of Hong Kong Hang Seng Index increased slightly by 0.3%.

from Japan Nikkei 225 jumped up to 2%, reaching a new record. The broader Topix index added 1.2%.

In Australia, the S&P/ASX200 ended up 0.6% at 7,745.60. The index increased by 1.3% over the week.

South Korean markets were closed for the Movement Day.

From one day to the next, the Nasdaq Composite recorded its first record close since November 2021 on Thursday as technology and chip stocks rallied.

The tech-heavy index ended with gains of 0.90% to close at an all-time high of 16,091.92. THE S&P500 also closed at a record high, up 0.52% to 5,096.27. THE Dow Jones Industrial Average increased by 0.12%.

Overnight data showed: US inflation rose in line with expectations in January, according to a key indicator used by the Federal Reserve to gauge inflation.

The price index for personal consumption expenditures excluding food and energy products increased 0.4% in January and 2.8% year-on-year, in line with Dow Jones consensus estimates.

— CNBC’s Hakyung Kim and Samantha Subin contributed to this report.

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