• Asian stocks opened tentatively higher Thursday after the S&P 500 closed at a fresh record within striking distance of 5,000.
• Japanese and Australian stocks climbed while Hong Kong futures eased lower. The S&P 500 rose 0.8% on Wednesday and the Nasdaq 100 climbed 1% as traders bet that a solid economy will continue fueling corporate profits. US futures were little changed early Thursday.
• Markets in China will be again in focus as investors prepare for the last day of mainland equity trading before the Chinese New Year holidays. The nation replaced the head of its securities regulator Wednesday, a surprise move that may foreshadow more forceful measures to support the stock market. The Golden Dragon index of US-traded Chinese companies fell 1.2% Wednesday. The declines were led by the benchmark’s biggest constituent with US-listed shares of Alibaba Group Holding Ltd. falling 5.9% despite the company unveiling $25 billion in stock repurchases.