Equities traded higher during Thursday’s Asia Pacific trading session, building on the upside momentum from the prior Wall Street trading session. There, testimony from Fed Chair Jerome Powell and the latest FOMC meeting minutes reinforced the case for the first interest rate cut since 2008.
Prospects of cheaper credit conditions from the world’s largest economy helped send the Nikkei 225 0.4 percent to the upside. Japanese gaming giant Nintendo saw shares soar (+3.85%) in the aftermath of the company announcing an updated version of their latest portable console, the Switch Lite.
Elsewhere, Australia’s benchmark index, the ASX 200, climbed over 0.5 percent heading into the close. It was boosted by solid performance in materials (+0.8%). In China, the Shanghai Composite aimed more than 0.3 percent to the upside.