Asia Markets: Asia stocks higher; South Korea shares soar as interest rates hold steady

Stocks in South Korea soared to a fresh high Thursday, leading broad gains across the region after the nation’s central bank held interest rates at a record-low in a vote of confidence in the economy.

The Kospi Index SEU, +0.96% was last up 0.9%, with gains accelerating after the Bank of Korea’s decision Thursday morning to hold rates at 1.25% for a 10th straight meeting. South Korea’s stock market has been on a roll, hitting record highs as strong local corporate results and economic optimism propelled gains.

“Looking ahead, we doubt a rate change will come onto the agenda any time soon,” said Krystal Tan, Asia economist at Capital Economics.

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