Asian shares rally after Dow hits a record, as some AI shares bounce back
Summary
Asian stock markets rose after the Dow Jones in the U.S. hit a new record, with some artificial intelligence (AI) related stocks recovering while others continued to lose value. U.S. job growth slowed but remained positive, which might ease inflation and reduce the need for higher interest rates this year.Key Facts
- The Dow Jones Industrial Average reached a new high of 52,900.07.
- South Korea’s Kospi index recovered 2.8% after a big drop the day before.
- Samsung Electronics rose 7%, and SK Hynix went up 4.9%.
- The Tokyo Nikkei 225 climbed 0.9%, while Tokyo Electron fell 2.5% and Kioxia jumped 6.6%.
- U.S. employers added 57,000 jobs in the last month, fewer than expected but still positive.
- Lower job growth might help slow inflation, possibly limiting interest rate rises by the Federal Reserve.
- Some chipmakers like Micron Technology and Nvidia saw their stock prices fall sharply.
- Bitcoin and crypto-related stocks, such as Robinhood and Coinbase, increased after Bitcoin’s price rose about 2%.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
