- Asian stocks rose as US stocks saw their longest winning run in two years and Treasuries' resilience reinforced hopes that interest rates would soon peak.
- The MSCI Asia Pacific Index experienced a 0.5% increase, driven by growth in South Korea, Japan, and Australia. The actions came as the S&P 500 gained 0.1% on Wednesday, marking its eighth straight advance and best run since November 2021. In Asia, US stock futures remained stable.
- Chinese stocks were mixed, with major mainland benchmarks seeing modest gains and Hong Kong's equities declining following a recent price reading that indicated continued deflationary pressures. For the first time since July, the consumer price index of the second-largest economy in the world declined in October, highlighting the difficulty faced by policymakers in bolstering growth through domestic demand.
- According to IG Asia market strategist Jun Rong Yeap, "the inflation data is likely to reinforce the weaker-than-expected PMI figures last week, which continue to point to low-for-longer growth conditions." "It appears that more work needs to be done, based on the data available today."