Japan's Nikkei smashes 40,000 barrier; China stocks higher with eyes on ‘Two Sessions' meeting

Japan’s Nikkei 225 crossed the 40,000 mark, gaining nearly 1% and setting a new record high. The broader Topix also scaled a new peak, rising 0.4%. China’s “Two Sessions” meetings are being closely watched, with the CSI 300 opening 0.1% higher. South Korea’s Kospi rose 1.5%, while the Kosdaq was up 1.2%. Australia’s S&P/ASX 200 was flat. Oil prices rose slightly, with West Texas Intermediate crude prices briefly crossing the $80 mark. In the US, the Nasdaq advanced to a new high, while the S&P 500 closed above the 5,100 threshold.