Asian benchmarks mostly rose Thursday, as investor optimism got a perk from a rally on Wall Street that's on track to break a three-week losing streak.
Japan's benchmark Nikkei 225 surged 2.3% to finish at 28,065.28. Australia's S&P/ASX 200 gained 1.8% to 6,848.70. South Korea's Kospi edged up 0.3% to 2,382.88. Hong Kong's Hang Seng slipped 0.8% to 18,897.29, while the Shanghai Composite fell 0.2% to 3,239.64.Somewhat reassuring to market watchers was Japan's revised seasonally adjusted real gross domestic product, or GDP, for the second quarter, which was revised upward to an annual rate of 3.
Investors are also watching for what may happen on interest rates at the European Central Bank's meeting, as well as for comments from U.S. Fed Chair Jerome Powell, later Thursday. Wall Street watchers cautioned that the market is likely to see more volatility in coming weeks ahead of the next Federal Reserve interest rate policy update scheduled for Sept. 21.
The central bank has been clear about its determination to continue raising rates until it feels that inflation is leveling off or cooling. In June, Fed officials projected that the benchmark rate will reach a range of 3.25% to 3.5% by year's end and roughly a half-percentage point more in 2023.
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