Asia stocks trade higher on Thursday tracked gains on Wall Street overnight, which were driven by optimism over artificial intelligence ( AI ), which drove significant buying into chip making and related technology stocks across the region. On the flip side, gold stocks declined 0.7% on profit-taking after bullion breached $4,000-per-ounce level to a record high. Japan ( NKY:IND ) rose 1.66% to above 48,300, while the broader Topix Index advanced 0.4% to 3,248 on Thursday, recovering from earlier losses as SoftBank Group surged more than 8% amid an aggressive expansion into artificial intelligence. The Japanese yen traded around 152.5 per dollar on Thursday, lingering near its weakest level since February, as political shifts and soft economic data dampened prospects for Bank of Japan rate hikes. Meanwhile, investors continued to weigh the policy outlook in Japan following the election of pro-stimulus candidate Sanae Takaichi as the country’s next prime minister. China ( SHCOMP ) rose 1.26% to above 3,900, while the Shenzhen Component gained 1.5% to 13,725 on Thursday. The offshore yuan rose to around 7.13 per dollar on Thursday, rebounding from the previous session as investors returned following China’s “Super Golden Week”. China recorded total spending of CNY 809 billion during the eight-day Golden Week holiday that combined the Mid-Autumn Festival and National Day celebrations, according to the Ministry of Culture and Tourism. The U. S. government expanded sanctions, adding 29 entries to the Commerce Department’s Bureau of Industry and Security (BIS)’s restricted entity list . These target firms in China, Turkey, and the UAE for supporting Iran’s military. The People's Bank of China (PBoC) would conduct a CNY 1.1 trillion (USD 154.8 billion) outright reverse repo operation on Thursday, October 9, aiming to maintain ample liquidity in the national banking system. China tightened its rare earth export controls on Thursday, expanding restrictions on processing technology, unauthorised overseas cooperation, and exports to defence and semiconductor users. Hong Kong ( HSI ) rose 0.29% to 26,750 in Thursday morning deals, as traders responded to reports that China launched export controls on rare earth production technology amid mounting rivalry. On the corporate front, HSBC Holdings proposed to privatize Hang Seng Bank in a USD 37.3 billion deal , sending Hong Kong HSBC shares tumbled over 5% while Hang Seng Bank surged almost 30%. India ( SENSEX ) rose 0.35% to 81,844 in morning trade on Thursday, halting losses from the previous session. The index was mainly supported by gains in the pharmaceutical and healthcare sectors, which climbed 1.2% and 1.1% respectively, after the Trump administration clarified it is not planning to impose tariffs on generic drugs imported from foreign countries. Australia ( AS51 ) rose 0.25% to around 8,990 on early Thursday trade, ending a three-session losing streak, driven by advances in heavyweight miners. The Australian dollar rose to around $0.660 on Thursday, building on the prior session’s gains, as higher inflation expectations reinforced the Reserve Bank of Australia's hawkish stance. Consumer inflation expectations rose to 4.8% in October 2025 from 4.7% in September, the highest since June, amid concerns that Q3 inflation could surpass forecasts. The New Zealand dollar rose toward $0.58 on Thursday, recovering from losses in the previous session when the Reserve Bank surprised markets with a larger-than-expected rate cut. In the U.S. on Wednesday, all three major indexes ended higher as technology shares led gains and investors parsed the Federal Reserve’s latest meeting minutes for policy clues amid a prolonged government shutdown. Meanwhile, FOMC minutes revealed mixed views on the policy outlook, and investors now await remarks from Fed Chair Jerome Powell later today. Earnings reports from Delta Air Lines and PepsiCo are also due. U.S. stock futures held steady on Thursday after major indexes rallied to new record highs in the previous session, led by strong gains in technology shares: Dow +0.07% ; S&P 500 +0.05% ; Nasdaq +0.05% . Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: U.S. sanctions 29 companies in China, Turkey, and UAE over Iran military support China tightens export rules for crucial rare earths and related technology Japan services sector expands for sixth month, but jobless rate hits 13-month high Australia’s services sector expands for 20th straight month despite sharp slowdown in September Australian trade surplus plunges to seven-year low amid tariff impact, exports tumble 7.8% m/m
Calculating Bit Digital's 'Fair Value'
