Asian Shares Mixed As Investors Await Clarity On Trump's Tariff Plans

(RTTNews) - Asian stocks turned in a mixed performance on Thursday despite China announcing a slew of measures to stabilize its stock markets.

Traders awaited key announcements on tariffs from the Trump administration and policy decisions from several major central banks in the coming weeks.

The dollar retreated in Asian trade and gold held steady near a three-month high while oil prices fell on signs of rising stockpiles in the U.S.

China's Shanghai Composite index rose 0.51 percent to 3,230.16 as Beijing said it will guide big state insurers and commercial insurance funds to increase investments in the A-share market.

Also, the securities regulator pledged to step up efforts to propel cross-border investment and financing.

Hong Kong's Hang Seng index ended 0.40 percent lower at 19,700.56, giving up early gains.

Japanese markets rose notably amid optimism over artificial intelligence spending and ahead of the CPI data and the BoJ rate decision due Friday.

The Nikkei average jumped 0.79 percent to 39,958.87 while the broader Topix index settled 0.53 percent higher at 2,751.74.

SoftBank Group surged 5.1 percent to extend gains from the previous session following the White House announcement of the Stargate AI infrastructure plan.

Seoul stocks fell sharply after data showed South Korea's economy barely grew in the fourth quarter of 2024 amid the worst political crisis in decades.

The Kospi average fell 1.24 percent to 2,515.49. Chipmaker SK Hynix dropped 2.7 percent despite the company reporting a record quarterly profit.

Australian markets fell notably to snap a three-day winning streak, with mining and consumer discretionary stocks leading losses.

The benchmark S&P/ASX 200 dipped 0.61 percent to 8,378.70 while the broader All Ordinaries index closed down 0.59 percent at 8,629.10. BHP, Rio Tinto and Fortescue Metals fell 1-2 percent.

Iluka Resources slumped 6.5 percent after Perpetual decreased its stake in the company. Myer soared 6.1 percent while Premier Investments shed 0.7 percent after an agreement between the two for a merger.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index edged up by 0.18 percent to 13,060.08.

U.S. stocks rose overnight, pushing Wall Street close to record territory, buoyed by Netflix's robust quarterly results, Fed rate-cut optimism and President Trump's new initiative on artificial intelligence.

The Dow edged up by 0.3 percent, the S&P 500 gained 0.6 percent and the tech-heavy Nasdaq Composite rallied 1.3 percent.