December 8, 2022

Brighton Journal

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Asian markets are trading higher after US stocks rose for a second day

Asian markets are trading higher after US stocks rose for a second day

People crossing a street in Causeway Bay, Hong Kong.

Mark Fernandez | Norfoto | Getty Images

Shares in the Asia-Pacific region traded higher on Wednesday after US stocks rose for a second day.

Hong Kong’s Hang Seng Index is up 5.1% as it returns to trade after Tuesday’s holiday. Hang Seng Tech is up 7.11%.

The Nikkei 225 In Japan it rose 0.35%, rising above the 27,000 level, while Topix added 0.3%.

in south korea, Cosby It was flat and the KOSDAQ index gave up its early gains to drop 1.47%. Australia S & P / ASX 200 It rose 1.6%. MSCI’s broadest index of Asia Pacific shares outside Japan rose 2.26%.

on the economic front, Inflation in South Korea slowed slightly in September, According to official data released Wednesday.

Mainland China markets are still closed for the Golden Week holiday, and the India market is also closed for a holiday.

On Wall Street overnight, stocks rose overnight in the US for a second session. The Dow Jones Industrial Average jumped 825.43 points, or 2.8%, to 30,316.32 points. The S&P 500 advanced 3.1% to close at 3,790.93, and the Nasdaq Composite rose 3.3% to close at 11,176.41.

“There is no denying that incoming US economic data has had a role in the movements of stocks, bonds and currencies so far this week,” wrote Ray Atrell, head of FX strategy at National Australia Bank.

United State Job Opportunities and Employment Turnover report sparked a ‘big negative surprise’ Books can not be ignored. He added that it is “the first meaningful sign of some crack” in the labor market, although it is still very narrow.

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CNBC’s Tanaya Machel and Alex Haring contributed to this report.