Investing.com - Asian stock markets were mixed on Thursday, buoyed by a Federal Reserve commitment to keep interest rates low through the end of 2014, although profit-taking ate into gains, in Japan especially, where the country posted its first trade deficit in decades.
During early Asian trading on Thursday, Hong Kong's Hang Seng Index was up 1.13%, while Japan’s Nikkei 225 Index was down 0.37%.
Australian markets were closed on holiday.
News that the Federal Reserve felt the U.S. economy was in need of low interest rates for years to come sent stocks worldwide rising.
"Mr. Bernanke is presenting the world with a gift," Khiem Do, the Hong Kong-based head of multi-asset strategy at Baring Asset Management Ltd., told Bloomberg.
"He wants to underwrite the recovery and underwriting the recovery is very good for equity markets and risk assets."
However in Japan, the Ministry of Finance reported the country logged its first trade deficit in over 30 years.
Sluggish demand for Japanese products and services abroad coupled with a strong yen resulted in the gap.
In Hong Kong, the top gainers included New World Development, up 4.44%, Wharf Holdings, up 3.68%, and Hang Lung Properties, up 3.55%.
European stock futures indicated a mixed opening.
France's CAC 40 futures pointed to a gain of 0.02%, while Germany ’s DAX 30 futures signaled a loss of 0.03%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.01%.
Dow Jones Industrial Average futures were down 0.03% while the S&P 500 futures were down 0.06%.
Later Thursday, markets will await U.S. durable goods orders, initial jobless claims and new homes sales, while consumer confidence figures come out of Germany.
In Japan, inflation and retail sales figures will publish as well.
The World Economic Forum continues its meeting in Davos, Switzerland, and markets will await comments from policymakers or financial and corporate leaders on the U.S. and European economies.
During early Asian trading on Thursday, Hong Kong's Hang Seng Index was up 1.13%, while Japan’s Nikkei 225 Index was down 0.37%.
Australian markets were closed on holiday.
News that the Federal Reserve felt the U.S. economy was in need of low interest rates for years to come sent stocks worldwide rising.
"Mr. Bernanke is presenting the world with a gift," Khiem Do, the Hong Kong-based head of multi-asset strategy at Baring Asset Management Ltd., told Bloomberg.
"He wants to underwrite the recovery and underwriting the recovery is very good for equity markets and risk assets."
However in Japan, the Ministry of Finance reported the country logged its first trade deficit in over 30 years.
Sluggish demand for Japanese products and services abroad coupled with a strong yen resulted in the gap.
In Hong Kong, the top gainers included New World Development, up 4.44%, Wharf Holdings, up 3.68%, and Hang Lung Properties, up 3.55%.
European stock futures indicated a mixed opening.
France's CAC 40 futures pointed to a gain of 0.02%, while Germany ’s DAX 30 futures signaled a loss of 0.03%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.01%.
Dow Jones Industrial Average futures were down 0.03% while the S&P 500 futures were down 0.06%.
Later Thursday, markets will await U.S. durable goods orders, initial jobless claims and new homes sales, while consumer confidence figures come out of Germany.
In Japan, inflation and retail sales figures will publish as well.
The World Economic Forum continues its meeting in Davos, Switzerland, and markets will await comments from policymakers or financial and corporate leaders on the U.S. and European economies.