Japan stocks rise as government reportedly set to propose record budget

Asia-Pacific stocks mostly rose on Thursday, with Japan’s Nikkei 225 and Topix increasing following the news of a record $735 billion budget for the upcoming fiscal year. Bank of Japan’s Governor expressed optimism about the economy reaching 2 percent inflation by 2025. Shares of Japanese automakers Nissan and Honda climbed, as the companies engaged in talks to merge, potentially becoming the third-largest carmaker globally. South Korea’s Kospi and Kosdaq edged higher, while China’s CSI 300 dipped. Australia, New Zealand, and Hong Kong markets were closed for Boxing Day.

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