America News Agency

The Hang Seng Mainland Properties Index briefly sank more than 10 percent, dragged down by Longfor Group Holdings' loss of 12.8 percent and New World Development's fall of 10 percent. The Hang Seng Tech Index fell over 6 percent.

Most Asian markets traded higher, with Japan’s Nikkei 225 leading with 2.1 percent gains. The broad-based Topix added 1.3 percent. The uptick came as the yen slid to as weak as 147.15 against the U.S. dollar, a day after clocking its largest single-day decline since June 2022. Australia’s S&P/ASX 200 jumped 0.25 percent.

Markets in mainland China remain closed until Oct. 8. Chinese stocks have been on a tear after authorities announced a slew of support measures last week.

On Wednesday, Japan’s new prime minister, Shigeru Ishiba, told reporters that the economic conditions don’t support another rate hike. Ishiba made his comments after meeting with Bank of Japan Governor Kazuo Ueda.

Investors will parse through the busy slate of data on Thursday. Australia’s seasonally adjusted Judo Bank Composite PMI data came in at 49.6 in September, lower from 51.7 in August, falling past the 50 neutral mark. The services PMI posted 50.5, down from 52.5 in August.

South Korea was shut down Thursday for National Foundation Day. Taiwan markets remain closed for a second day as Typhoon Krathon approaches, bringing heavy rain and heavy winds.

Middle East conflicts were focused this week as markets brace for more regional uncertainty. Israel started a ground operation in Lebanon and conducted more airstrikes, while Iran launched a ballistic missile attack in retaliation for its recent killing of Hezbollah leader Hassan Nasrallah.

In the U.S., the three major U.S. indexes closed slightly above the flatline as Middle East tensions weighed. The S&P 500 added just 0.01 percent to close at 5,709.54, and the Dow Jones Industrial Average added roughly 39 points to close at 42,196.52. The Nasdaq Composite gained 0.08 percent to 17,925.12.