Asia Stocks Mixed as US Tech Rally Cools

Asian equities navigated a mixed start following an upbeat US session driven by optimism surrounding artificial intelligence (AI) spending.

Tepid Open for Asian Markets

MSCI Asia Pacific index traded flat after the S&P 500's 0.6% surge on Wednesday, bringing it close to an all-time high. Asian investors remain cautious after US President Donald Trump's first days in office, which have sent mixed signals.

China's Market Measures

Beijing implemented measures to stabilize its stock market, including increasing pension investment in listed companies. A separate briefing scheduled for Thursday raises the possibility of further announcements.

South Korea's Slow Growth

South Korea's economy underwhelmed in the last quarter, with GDP growth falling below expectations. The country plans to issue special bonds to support its currency.

Bank of Japan's Rate Hike

The Bank of Japan is expected to raise interest rates to the highest level since 2008 on Friday.

Market Outlook

JPMorgan CEO Jamie Dimon cautioned signs of overheating in the US stock market. Treasuries remain elevated as investors anticipate the Federal Reserve's next interest rate move. Nasdaq 100 and S&P 500 are poised for further gains.

Commodities

Brent oil declined for the fifth consecutive session amid Trump's tariff threats. Gold remained steady.

Key Events This Week

* Thursday: Eurozone consumer confidence, US jobless claims
* Friday: Bank of Japan policy meeting, Eurozone PMI data, US consumer sentiment, S&P Global PMI

Market Movements

* S&P 500 futures: Flat
* Hang Seng futures: +0.4%
* Japan's Topix: Flat
* Australia's S&P/ASX 200: -0.4%
* Euro Stoxx 50 futures: +0.8%

Currencies

* Bloomberg Dollar Spot Index: Flat
* Euro: $1.0410
* Japanese yen: 156.35 per dollar
* Offshore yuan: 7.2830 per dollar
* Australian dollar: $0.6274
* British pound: $1.2315

Cryptocurrencies

* Bitcoin: $103,183.17 (-0.9%)
* Ether: $3,254.2 (-0.1%)

Bonds

* 10-year Treasury yield: 4.60%
* Japan's 10-year yield: 1.190%
* Australia's 10-year yield: 4.47%