Asian Markets Surge on Economic Optimism

Asian markets showed positive momentum with major indices trading higher amid optimistic economic conditions, particularly in India, where the S&P BSE Sensex and Nifty 50 reached record highs driven by strong earnings and increased foreign investments. Japan's Nikkei 225 and South Korea's KOSPI also posted gains, although Japan's economic data revealed rising unemployment and mixed industrial production figures. In contrast, the Chinese market displayed mixed results as it grappled with ongoing concerns in the property sector. Meanwhile, inflation in Tokyo surged to 2.6%, prompting speculation about potential interest rate adjustments by the Bank of Japan. The overall sentiment across Asian markets reflected a reaction to positive cues from U.S. economic data, which showed unexpected growth in GDP for the second quarter. Investors remain cautious as they await further economic indicators, particularly U.S. consumer price inflation data.