Global Market Today: Asian Shares Rise After Wall Street Rally Driven by Tech Stocks
US manufacturing data boosted Wall Street, while Asia-Pacific shares rose 0.1% and South Korean stocks climbed as much as 2.1%, traders said.
- Asian markets made cautious gains Wednesday as investors followed a global rally, with MSCI's broadest index of Asia-Pacific shares outside Japan rising 0.1 percent.
- Overnight, markets advanced as Amazon.com Inc.'s 4.5 percent gain following strong earnings helped lift sentiment, while U.S. manufacturing activity reached a four-year high.
- South Korean shares led regional gains, with the KOSPI rising 0.77 percent and shipping firm HMM jumping 4.43 percent, though Samsung Electronics declined 0.2 percent.
- Brent crude made limited gains, rising 0.6 percent to $84.29 a barrel after President Donald Trump said he held off on a fresh attack on Iran as a gesture of goodwill.
- Pricing indicates a 65 percent probability of a September Federal Reserve rate hike, while the dollar rebuilt strength against the Japanese yen following coordinated intervention last week.
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The record mood on the US stock exchanges also motivates investors in Asia. The most important indices in Japan and South Korea increased by more than three percent.
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The Economic Times
Times of IndiaGlobal Market Today: Asian shares rise after Wall Street rally driven by tech stocks
Asian shares advanced, mirroring a Wall Street rally fueled by technology stocks. The yen stabilized after intervention-driven gains, while oil prices declined amid easing Middle East tensions. Investors anticipate a busy corporate earnings week, seeking evidence of AI spending translating into growth. US manufacturing activity expanded rapidly, showing strong demand and increased production. Markets are shifting focus from flows to earnings and macroeconomic factors.
Asia stocks move higher on Wall Street lead, oil steady
By Gregor Stuart Hunter SINGAPORE, Aug 4 (Reuters) - Asian markets made cautious gains at the start of trading as investors followed a global rally, with oil prices holding near the lowest levels in weeks as the U.S.-Iran conflict remained at a stalem...
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