China market gains, HSI rally
Red flags fly at Tiananmen Square in Beijing, China, on Wednesday, July 10, 2024.
Bloomberg | Bloomberg | Getty Images
Asia-Pacific markets are set to climb on Thursday, with Chinese markets poised to extend gains and other markets in the region positioned for a rebound.
Mainland China’s CSI 300 has notched a five-day winning streak, hitting its highest levels in almost two months after Beijing rolled out a slate of economic stimulus measures on Tuesday. Meanwhile, Hong Kong’s Hang Seng index is set for a third straight day of gains, according to futures data.
HSI futures were at 19,336, higher than the HSI’s last close of 19,129.1. The Hong Kong index has reached its highest level since May, tracking gains on the mainland.
Futures for Australia’s S&P/ASX 200 stood at 8,195, slightly higher than its last close of 8,126.4.
Japan’s Nikkei 225 futures also pointed to a rebound for the market, with the futures contract in Chicago at 38,295 and its counterpart in Osaka at 38,110 compared to the previous close of 37,870.26.
Overnight in the U.S., both the Dow Jones Industrial Average and S&P 500 slid and retreated from their latest records. The broad-based index lost 0.19%, while the 30-stock Dow fell 0.7% despite hitting fresh records in early trading.
The Nasdaq Composite eked out a narrow gain of 0.04%.
—CNBC’s Brian Evans and Jesse Pound contributed to this report.
