Asia report: fresh highs for Nikkei-225 and Kospi

(Sharecast News) - Stocks in the Asia-Pacific region were mostly higher on Thursday, likely helped by the favourable tailwind from the fresh record highs set by the Nasdaq Composite and S&P 500 overnight.

Japan's Nikkei-225 gained 1.77% to reach 48,580.44, a fresh record high, alongside a smaller 0.68% advance to 3,257.77 for the broader Topix index.

Dollar/yen drifted down 0.15% to 1.3384 and the yield on 10-year JGBs by one basis point at 1.697%.

In the background, some analysts were sounding an optimistic note for the medium-term but caution for over the near-term.

That was the case of one Spain-based small fund manager who told Sharecast that he had recently pared gold holdings in his portfolio from about 50% to above 20%.

As for the broader market, he believed that there was far too much complacency.

For his part, Stephen Innes at SPI Asset Management told clients: "To add a little balance to my "The New Era Isn't a Bubble - It's a Rerating of Reality," it's not that I'm naive to the risks.

"Every cycle hides its own fault line, and this one won't be any different. However, I think the tail risk will persist more deeply in the credit market."

Innes was referring to the segment of the credit market exposed to the AI frenzy.

The Shanghai Stock Exchange's A Composite Index meanwhile was ahead by 1.32% to 4,124.06.

South Korea's Kospi outperformed, adding 2.70% to 3,549.21, and thus also establishing a fresh high.

Hong Kong's Hang Seng Index dipped 0.29% to 26,752.59.

As an aside, consultancy KPMG pointed out in its latest report how Hong Kong was on the path to reclaiming the top spot globally for IPO proceeds in 2025, Dow Jones Newswires reported.

Taiwan's TAIEX index rose 0.88% to 27,301.92.

Hanoi�s Ho Chi Ming Index jumped 1.1% to 1,716.47.

Worth noting, China imposed new curbs on its exports or rare earths and other critical minerals ahead of a summit between Donald Trump and Xi Jinping scheduled for later in October.