Low angle view of tall buildings in Tokyo, Japan, showcasing diverse architectural styles
George Pachantouris | Moment | Getty Images
Japan’s Nikkei 225 on Thursday hit 58,000 for the first time in history, extending its post-election rally to fresh highs, fueled by renewed confidence in domestic politics and the ruling administration’s economic agenda.
The Topix advanced 0.45%.
Other markets in Asia also shrugged off a stronger-than-expected U.S. payrolls data that has dampened expectations for Federal Reserve rate cuts and sent U.S. stocks lower overnight.
South Korea’s Kospi jumped 1.12%, while the small-cap Kosdaq added 0.22%.
Australia’s S&P/ASX 200 was up 0.42% in early trade.
Hong Kong’s Hang Seng index futures were at 27,206, lower than the HSI’s last close of 27,266.38.
Overnight in the U.S., the Dow Jones Industrial Average snapped a three-day win streak after a better-than-expected January jobs report.
The blue-chip index lost 66.74 points, or 0.13%, and closed at 50,121.40. The S&P 500 was nearly flat at 6,941.47. The Nasdaq Composite dropped 0.16% to end at 23,066.47.
The Bureau of Labor Statistics’ January nonfarm payrolls report showed job growth of 130,000 in January. Economists polled by Dow Jones had estimated gains at 55,000. Jobs growth in December was downwardly revised to 48,000.
Strong labor market has reduced the odds for interest rate cuts by the Federal Reserve.
The jobs report follows weaker-than-expected consumer data released on Tuesday. That report showed that consumer spending in December was flat, missing the 0.4% monthly gain expected from economists polled by Dow Jones.
—CNBC’s Sean Conlon and Liz Napolitano contributed to this report.
