BEIJING (AP) – Asian stocks rose Thursday as traders watched U.S. presidential candidates Hillary Clinton and Donald Trump debate economic policy and looked ahead to a European Central Bank meeting.
KEEPING SCORE: Tokyo’s Nikkei 225 rose 1.4 percent to 17,235.50 and Hong Kong’s Hang Seng added 0.5 percent to 23,411.73. The Shanghai Composite Index shed 0.1 percent to 3,082.62. Sydney’s S&P-ASX 200 advanced 0.1 percent to 5,441.61 and Seoul’s Kospi was almost flat at 2,040.60. India’s Sensex added 0.4 percent to 28,101.41. Benchmarks in Thailand and Indonesia gained, while New Zealand and Singapore retreated.
CLINTON VS TRUMP: Investors watched the candidates spar at their third debate over who had a better plan to spur U.S. economic growth. Trump, who has rattled markets by calling for curbs on trade and immigration, said he would hire experts, and not “political hacks,” to negotiate more favorable trade deals. Clinton, seen as more favorable to trade, said she was focused on helping the middle class, while Trump’s plans are geared toward the rich.
ANALYSTS’ TAKE: “The presidential debate is a must watch for investors in the Asia Pacific region,” said Michael McCarthy of CMC Markets in a report. “There are at least two points of acute market interest. One of the six topics is the U.S. economy, and any clarification of policy in this area could influence trading today. Secondly, a clear win for either candidate is important. Markets are likely to buy Clinton and sell Trump.”
EURO ZONE WATCH: Markets looked ahead to a meeting of the euro zone central bank for insight into its intentions for its 1.7 trillion euro ($1.9 trillion) bond-buying stimulus program. Most analysts think that while the European Central Bank will stick to its policies, governor Mario Draghi will leave open the possibility of extending its bond-buying program, which is meant to increase lending, growth and inflation. Analysts think the ECB will wait at least until December’s meeting to make any decision.