Asian equity markets advanced in early trade on a data-heavy Thursday, with South Korean shares supported by the Bank of Korea’s decision to lower its base rate by 25 basis points to 1.50 percent.
China’s benchmark Shanghai Composite index opened down 0.5 percent ahead of the release of April fixed asset investment, as well as May retail sales and industrial production.
South Korea’s Kospi index held on to gains, while the South Korean won weakened to 1,113.1 versus the US dollar following the central bank’s monetary policy decision.
Japan’s Nikkei 225 rebounded after settling at a three-week low in the previous session, as the yen weakened 0.3 percent versus the US dollar in early Asian trade.
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