Asian Shares Advance In Thin Holiday Trade

(RTTNews) - Asian stocks mostly rose in thin holiday trade on Thursday as investors digested broadly positive tech earnings from the U.S. and awaited clarity on U.S. President Trump's tariff policies, especially on Canada, Mexico and China.

The yen edged up against the dollar and euro amid signs the Bank of Japan will keep raising interest rates as others cut.

The dollar eased and gold ticked higher after the Federal Reserve signaled that it is in no rush to cut interest rates.

The European Central Bank meets later in the day, with markets expecting another 25-bps rate cut, the first of four rate cuts expected for 2025.

Oil prices were mixed in Asian trading after falling in the previous session as official data indicated a rise in U.S. inventories.

Japanese markets edged up slightly as semiconductor stocks continued to recover from DeepSeek concerns. Tokyo Electron advanced 1.9 percent and Advantest surged 3.2 percent.

SoftBank Group shares fell 1.1 percent after a Financial Times report that the company is considering a $25 billion investment in OpenAI.

The Nikkei average edged up by 0.25 percent to 39,513.97 while the broader Topix index closed up 0.23 percent at 2,781.93.

Australian markets closed at record highs as softer inflation data released on Wednesday boosted hopes for interest rate cuts by the Reserve Bank.

The benchmark S&P/ASX 200 rose 0.55 percent to 8,493.70, led by technology, mining and energy stocks. The broader All Ordinaries index settled 0.52 percent higher at 8,745.90.

Karoon Energy jumped 7.7 percent after unveiling a $120m share buyback plan. Zip Co plummeted 25.4 percent after Q2 earnings missed estimates.

New Zealand's benchmark S&P/NZX-50 index dropped 0.57 percent to 12,928.38, posting its fourth decline in five trading days. Auckland International Airport shares fell nearly 2.5 percent.

Markets in China, Hong Kong, Singapore, South Korea, Malaysia and Taiwan were closed for the Lunar New Year holidays.

U.S. stocks fell overnight as the Federal Reserve left rates steady, as widely expected, and removed the reference on inflation making progress.

"In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks," the accompanying policy statement said.

The tech-heavy Nasdaq Composite and the S&P 500 both dipped around half a percent while the Dow dropped 0.3 percent.