Asian Shares Mixed In Lackluster Trade

(RTTNews) - Asian stocks ended mixed on Thursday as traders took stock of the political crises in France and South Korea as well as comments by Federal Reserve Chair Jerome Powell indicating that the U.S. central bank will cut rates again when it meets later this month.

Chinese shares ended on a firm note as investors awaited cues from an upcoming annual policy meeting that could roll out new stimulus measures.

The benchmark Shanghai Composite index rose 0.12 percent to 3,368.86 while Hong Kong's Hang Seng index fell 0.92 percent to 19,560.44.

Japanese stocks rose modestly to extend gains for a fourth day running as tech stocks tracked their U.S. peers higher.

The Nikkei average ended the session up 0.30 percent at 339,395.60, paring some initial gains. The broader Topix index settled marginally higher at 2,742.24. Advantest surged 3.4 percent and SoftBank Group added 1.2 percent.

The yen saw modest gains amid expectations for a Bank of Japan interest-rate hike this month.

Seoul stocks extended losses from the previous session as opposition parties moved to impeach President Yoon Suk Yeol after short-lived martial law declaration that stunned the nation. The Kospi average dropped 0.90 percent to 2,441.85.

Automaker Hyundai Motor and leading battery maker LG Energy Solution both fell around 2 percent while market behemoth Samsung Electronics rose 1.1 percent and No. 2 chipmaker SK Hynix rallied 3 percent.

Australian markets advanced, led by gold miners and technology companies. The benchmark S&P/ASX 200 edged up by 0.15 percent to 8,474.90 while the broader All Ordinaries index settled 0.18 percent higher at 8,744.50.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index finished marginally higher at 12,896.95.

U.S. stocks rose overnight to reach new record highs after ending mixed for two straight days.

The tech-heavy Nasdaq Composite climbed 1.3 percent, the Dow gained 0.7 percent and the S&P 500 edged up by 0.6 percent following upbeat results from Salesforce and Marvell Technology, and positive comments by Federal Reserve Chair Jerome Powell on the growth and inflation outlook.

Weaker-than-expected private sector employment and service sector activity data also contributed to optimism about the outlook for interest rates.