Closing Bell 28th August: ASX Edges Higher as Banks Lead Gains

Asia-Pacific Markets Mixed as Korea Holds Rates; Qantas Hits Record

Asia-Pacific equities traded mixed on Thursday as investors assessed the Bank of Korea’s latest policy decision and a series of corporate updates.

South Korea’s central bank kept its benchmark rate unchanged at 2.5% for the second consecutive meeting, in line with expectations. The Kospi rose 0.28% while the tech-heavy Kosdaq slipped 0.33%. The Korean won strengthened 0.24% to 1,389.8 per U.S. dollar.

In Japan, the Nikkei 225 added 0.24% and the Topix gained 0.14%. Australia’s S&P/ASX 200 was little changed, with investors focused on key corporate developments. Lynas Rare Earths announced a A$750 million ($488 million) discounted share placement at A$13.25 per share, about 10% below its last close, to fund processing and exploration activities. Trading in its shares was halted.

Meanwhile, Qantas surged to a record high after reporting a stronger-than-expected full-year result. Underlying profit before tax climbed 15% to A$2.39 billion, topping estimates, as revenue rose 8.6% to A$23.82 billion on robust demand across domestic and international routes.

Hong Kong’s Hang Seng index fell 0.79% and China’s CSI 300 slipped 0.18%.