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Hong Kong stocks gain over 2%, Asia markets rise as investors assess rate decisions in South Korea and Indonesia

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The Seoul city skyline early on December 16, 2020. (Photo by Ed JONES / AFP) (Photo by ED JONES/AFP via Getty Images)

Ed Jones | Afp | Getty Images

Asia-Pacific markets rose on Thursday, with Hong Kong stocks leading regional gains. The Hang Seng index climbed 1.93% in its final hour, while mainland Chinese markets were also up, with the CSI 300 gaining 0.72% and closing at 3,723.43.

South Korea’s central bank left rates unchanged at 3.5%, while Indonesia is expected to hold its benchmark policy rate unchanged at 5.75%.

South Korea’s producer price index climbed 0.2% year-on-year, the 13th straight month that growth in the PPI has slowed.

Investors will also be assessing chipmaker’s Nvidia’s earnings that were released early Thursday. The company beat estimates for the fiscal second quarter and issued optimistic guidance for the current period.

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Elsewhere, Japan’s Nikkei 225 was 0.87% up to close at 32,287.21, while the Topix climbed 0.43% to end at 2,286.59 on Thursday. Both indexes saw a fourth straight day of gains.

In Australia, the S&P/ASX 200 advanced 0.47% and finished at 7,182.1, marking a three day winning streak.

South Korea’s Kospi rebounded and closed higher by 1.28% at 2,537.68, and the Kosdaq was up 2.14% to close at 901.74.

On Wednesday, in the U.S., all three major indexes gained ground, with the Dow Jones Industrial Average closing 0.5% up.

The S&P 500 gained 1.1% and recorded its best daily performance since June 30, while the tech-heavy Nasdaq Composite climbed 1.6%, for its third straight day of gains.

— CNBC’s Pia Singh and Alex Harring contributed to this report

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