This is CNBC's live blog covering Asia-Pacific markets.
SINGAPORE — Most Asia-Pacific markets fell Thursday after China's housing ministry briefing failed to impress investors, and sent the country's property stocks plummeting.
The CSI 300 real estate index — which had gained over 5% on Wednesday — fell nearly 8%, while the benchmark CSI 300 declined 1.13% to 3,788.22.
Hong Kong's Hang Seng index was down 1.3% at 20,030 as of its final hour of trade following a number of policy announcements from its chief executive on Wednesday. The Hang Seng Mainland Properties Index dropped 6.6%.
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Japan's Nikkei 225 slipped 0.69% to close at 38,911.19, while the broad-based Topix was down 0.11% to end at 2,687.83 after investors assessed trade data out of Japan.
Japan's exports fell 1.7% in September compared to the same period last year, surprising economists polled by Reuters who had expected a 0.5% growth. Exports, which contracted for the first time this year, were down sharply from a revised growth rate of 5.5% in August.
September's import growth came in at 2.1% also missing expectations of economists who expected growth of 3.2%. The figure was down from August's growth of 2.3%.
Money Report
Australia's S&P/ASX 200 rose 0.86% to end trading at 8,355.9.
Australia's unemployment rate for September came in at 4.1%, slightly down from a Reuters poll that expected it to remain unchanged from August at 4.2%.
Australia's labor participation rate slightly increased to 67.2% in September, up 0.1 percentage point from August as well as forecasts.
South Korea's Kospi ended marginally lower at 2,609.30, while the small-cap Kosdaq slipped 0.1% to 765.79.
Taiwan Semiconductor Manufacturing Company reported earnings on Thursday after Taiwan markets closed. Taiex gained 0.19% to end the day at 23,053.84.
Overnight in the U.S., the Dow Jones gained 337.28 points, or 0.79%, to ended at 43,077.70.
The S&P 500 added 0.47% to 5,842.47, while the Nasdaq Composite jumped 0.28% to close at 18,367.08.
— CNBC's Lisa Kailai Han and Jesse Pound contributed to this report.
Early signs of optimism in China’s property sector, says Knight Frank
Christine Li, head of research at Knight Frank, says it's too early to tell if China's property market is bottoming out, but there are early signs of optimism with an uptick in demand expected in the coming months.
TSMC quarterly profit jumps 54%, beating expectations on strong AI demand
Taiwan Semiconductor Manufacturing Company posted a stronger-than-expected third-quarter profit, helped by the boom in the artificial intelligence sector.
The firm recorded a net income of $325.26 billion Taiwanese dollars ($10.1 billion) in the reported quarter, 54% higher from the same period last year, and surpassing LSEG SmartEstimate of $300.2 billion Taiwanese dollars.
— Dylan Butts
Investors should remain patient on Chinese stimulus, says China Renaissance
China stimulus measures are not a "magic wand," said Andy Maynard, managing director and head of equities at China Renaissance, adding the country had shown strong resolve to fix issues in the economy.
China's financial support plans for ‘whitelist’ properties underwhelms real estate market
China will expand its "whitelist" of unfinished real estate projects and raise bank lending to the developers to the tune of 4 trillion yuan ($561.8 billion) by year-end, the country's housing ministry said in a highly anticipated briefing Thursday.
A total of 2.23 trillion yuan have already been approved for loans to developers on the whitelist, which was launched in January to allow city governments to recommend residential projects to banks for quicker funding approval.
Investors appeared to be underwhelmed by the announcements, with the CSI 300 real estate index — which had gained over 5% on Wednesday — falling 5.5%.
— Dylan Butts, Anniek Bao
China's central government has 'set the tone' to halt the decline in property prices: CGS International
China's central government has "set the tone" to halt the decline in property prices, and there would likely be more measures to reverse the "very challenging situation" in the property market, Raymond Cheng, managing director and head of research of Hong Kong and China at CGS International told CNBC's "Squawk Box Asia."
— Anniek Bao
China property stocks drop 5% after housing ministry briefing
The CSI 300 Real Estate Index dropped more than 5% following a much anticipated briefing from the China housing ministry. The index had gained 5% in the previous session.
Longfor Group and China Vanke led losses, down 8.3% and 5.9%, respectively. China Resources Land was down 3.6%, China Overseas Land & Investment fell 5% and Yuexiu Property 4.5%.
At the brieifing, officials pledged further financial support for property projects that come under its so-called 'whitelist.'
— Dylan Butts
Australia job numbers mostly on target
Australia's unemployment rate for the month of September came in at 4.1%, slightly down from a Reuters poll that forecasted it to remain unchanged from August at 4.2%.
Australia's labor participation rate slightly increased to 67.2% in September, up 0.1 percentage points from August and Reuters' forecasts.
— Dylan Butts
Singapore exports expand but miss expectations
Singapore's non-oil domestic exports expanded by 2.7% in the month of September from a year ago, according to data released by Enterprise Singapore.
The rise fell far short of the growth rate of 9.3% forecast by economists polled by Reuters as well as the 10.7% growth in August.
— Dylan Butts
Japan trade data misses expectations
Japan's trade data for September sharply missed estimates for both exports and imports.
September exports fell 1.7% compared to the same period last year, surprising economists polled by Reuters who expected growth of 0.5% growth rate. It's the first time that exports contracted this year and was down sharply from a revised growth rate of 5.5% in August.
Import growth for the month came in at 2.1% missing expectations of a 3.2% growth rate, and down from August's growth of 2.3%.
— Dylan Butts
CNBC Pro: These 9 biotech stocks have doubled this year and are set to double again, analysts say
Nine healthcare stocks have more than doubled this year and yet have more than 100% upside potential, according to analysts.
CNBC Pro screened more than 85,000 equities worldwide for stocks that had risen by 100% in 2024, researched by at least five or more analysts, and a median price target pointing to more than 100% upside potential.
The bio tech stocks have on average risen by 188% this year and have a median upside potential of 150%.
CNBC Pro subscribers can read more here.
— Ganesh Rao
CNBC Pro: Barclays names UK ‘conviction’ stock ideas for the fourth quarter — giving two over 35% upside
Barclays has named a raft of global stocks for investors to consider buying before the end of the year, naming "conviction stock ideas with catalysts."
The bank's list includes six overweight-rated stocks from the U.K., two of which it gave over 35% upside.
CNBC Pro subscribers can read more here.
— Amala Balakrishner
Analysts finally begin lowering 2025 earnings growth rate, Strategas says
With the third-quarter earnings season fully underway, analysts have finally begun lowering the bar for their expectations, according to Strategas.
"The traditional EPS decay that S&P EPS typically undergo has largely been avoided for 2025 up until this point. However, analysts have finally begun to revise figures lower in tandem with revising 2024 figures lower as well. Current figures still reflect a nearly 15% growth rate for CY '25 on top of margin expectations to be the highest on record if these earnings figures come to fruition," said strategist Ryan Grabinski.
In the third quarter, Grabinski expects that technology stocks were the biggest contributor to earnings growth, while energy was the biggest detractor.
— Lisa Kailai Han
UBS says to stay invested, despite stocks trading near all-time highs
Equities may be trading at their all-time highs, but UBS says this is no time to cash out.
"Our analysis of the past 60+ years shows that S&P 500 returns in the 3, 6, and 12 months following an all-time high are basically the same as all other periods," the firm wrote in a note to clients. "At the same time, we anticipate the macroeconomic and earnings environments to remain favorable, which supports staying invested in equities."
However, the bank believes economic growth will slow from here, thereby recommending investors stay selective and focused on "quality companies with strong balance sheets and consistent earnings." Many companies that meet this criteria are in the tech sector, UBS said.
— Lisa Kailai Han
Bank of America says labor market will continue to soften despite strong September report
The strong September jobs report was enough to convince the Federal Reserve that it needed to readjust the pace of its interest rate reductions. But Bank of America is not convinced that this strength in the labor market is here to stay.
"The bottom line is that we don't think there was sufficient evidence to change our soft-landing outlook for the labor market," wrote U.S. economist Shruti Mishra. "Following the strong September employment report print, we revised our Fed call but made no change to our labor market outlook."
Mishra pointed to three reasons for her skepticism.
First of all, job growth was narrow, as the so-called "catch-up sectors" such as leisure, education and government roles made up most of the job increases in September. The month is also traditionally seasonally noisy due to schools restarting and summer jobs ending. Lastly, Mishra pointed out that the report only encompassed one month of data.
— Lisa Kailai Han
Bank funds rally as earnings roll in
Two banking exchange-traded funds have climbed in recent days as investors parsed earnings reports from financial institutions.
The SPDR S&P Regional Banking ETF (KRE) has jumped more than 7% over the past five trading days, while the broader SPDR S&P Bank ETF (KBE) has added more than 6%. By comparison, the S&P 500 has risen less than 1% during the same period.
JPMorgan Chase and Wells Fargo reported earnings late last week. Bank of America, Goldman Sachs, Citigroup, Morgan Stanley and U.S. Bank have all posted financial results over the course of this week.
— Alex Harring
Small caps outperform
Small-cap stocks outperformed Wednesday, with the iShares Russell 2000 ETF (IWM) up 1.6% and on pace for a fourth straight day of gains. That's compared to the S&P 500's 0.3% rise.
Week to date, the IWM is higher by 2.4%, while the broad market index has gained 0.3%.
Small caps are showing signs of life after the Federal Reserve's big half-point rate cut in September bolstered investor sentiment in the asset class.
— Sarah Min