Asian benchmarks mostly rise after tech stocks lead rally on Wall Street
Summary
Asian stock markets mostly went up on Friday after technology stocks rose on Wall Street. Japan’s Nikkei, South Korea’s Kospi, Hong Kong’s Hang Seng, and China’s Shanghai Composite all saw gains, while Australia’s market stayed nearly the same.Key Facts
- Japan’s Nikkei index rose 0.6% to 64,622.33 in early trading.
- South Korea’s Kospi increased 0.9% to 6,635.67.
- Hong Kong’s Hang Seng jumped 2.1% to 25,751.26, and China’s Shanghai Composite gained 0.8% to 3,973.27.
- Australia’s S&P/ASX 200 slightly dropped less than 0.1% to 9,011.80.
- On Wall Street, the S&P 500 rose 1.1%, Dow Jones went up 1.2%, and Nasdaq increased 1.4%.
- Big tech companies like Microsoft, Apple, and Meta helped lead the Wall Street rally.
- Nvidia shares rose 1.8% after announcing it will buy AI platform Hugging Face for $13 billion.
- Bond yields, which affect loan interest rates, eased a bit, influencing positive market moves.
- Investors are watching for upcoming interest rate decisions by the U.S. Federal Reserve and Japan’s central bank.
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