Asian stock markets mostly climbed higher on Thursday, buoyed by a surge on Wall Street fueled by positive earnings reports from major companies. Japan's Nikkei 225, Australia's ASX 200, South Korea's Kospi and Hong Kong's Hang Seng all showed gains, while the Shanghai Composite also inched upward. The rally on Wall Street was driven by strong results from companies like Mattel and Amgen, which surpassed analyst expectations for profit. However, some tech stocks, including Advanced Micro Devices, faced downward pressure due to investor concerns about future growth.
Asian shares were trading mostly higher Thursday, after a Wall Street rally that followed profit reports from major companies. Japan's benchmark Nikkei 225 gained nearly 0.2% in early trading to 38,888.04. Australia’s S&P/ASX 200 surged 1.1% to 8,507.60. South Korea’s Kospi edged up 0.7% to 2,526.21. Hong Kong’s Hang Seng rose 0.2% to 20,640.73, while the Shanghai Composite added 0.6% to 3,248.34. \In Japan, Honda Motor Co.
stock, which jumped the previous day after Japanese media reported its ongoing talks to set up a joint holding company with Japanese rival Nissan Motor Corp. will unravel, pared down some of those gains. Nissan shares, meanwhile, recovered to trade higher. The media reports continued Thursday, but there was no immediate confirmation from either company. On Wall Street, the S&P 500 rose 0.4%, while the Dow Jones Industrial Average added 317 points, or 0.7%, and the Nasdaq composite gained 0.2%. Toymaker Mattel jumped 15.3% after blowing past analysts’ forecasts for profit in the latest quarter. Strength for its Hot Wheels brand helped make up for some softness for Barbie and other dolls. Mattel also gave a forecast for profit this upcoming year that topped analysts’ expectations. Amgen rallied 6.5% and was one of the strongest forces pushing upward on the S&P 500. It reported stronger profit for the latest quarter than expected, thanks in part to growth for its Repatha medicine, which can lower bad cholesterol and reduce the risk of heart attack.\For the latest quarter than analysts expected. Investors focused instead on slowing growth for its cloud business, whose revenue fell short of forecasts. They also homed in on the $75 billion Alphabet is budgeting for investments this year, roughly $15 billion more than analysts expected, as it remains in the rush to develop Advanced Micro Devices fell 6.3% even though the chip company beat profit expectations for the latest quarter. While analysts called AMD’s results solid, they also asked why CEO Lisa Su did not give more details about expectations for the performance of its AI offerings specifically
Asian Stocks Wall Street Profit Reports Tech Stocks Market Rally
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Asian shares trade mixed after drops for Big Tech leave Wall Street mixedAsian shares are mixed after gains for oil-and-gas producers helped offset drops for Nvidia and other Big Tech companies on Wall Street.
Read more »
Stock market today: Asian shares rise following Wall Street rally on healthy earningsAsian shares are trading mostly higher after a Wall Street rally that followed profit reports from major companies.
Read more »
Asian Shares Rise on Wall Street Rally Fueled by Encouraging US Inflation DataAsian shares mostly rose Thursday following a rally on Wall Street driven by encouraging update on U.S. inflation. Bank of Japan data showed wholesale prices in Japan rose 3.8% in December last year compared to a year earlier, adding to pressures on the central bank to raise interest rates. The S&P 500 jumped 1.8%, the Dow Jones Industrial Average rallied 1.7%, and the Nasdaq composite leaped 2.5%. Bank stocks helped lead the way after several reported stronger profits than analysts expected.
Read more »
Asian Shares Rise as Wall Street Rallies on Inflation Data and Strong Bank ProfitsAsian stock markets followed a surge on Wall Street, fueled by positive U.S. inflation figures and robust bank earnings reports. The rally was particularly strong in the banking sector, with several major banks exceeding profit expectations for the final quarter of 2024. Investors are closely watching these early earnings releases for clues about the overall health of the U.S. economy.
Read more »
Asian Shares Mixed After Wall Street Tech RoutAsian shares were mixed in thin Lunar New Year trading Tuesday after Wall Street's tech giants tumbled as a Chinese competitor raised questions about the pace of artificial intelligence progress. Japan's Nikkei fell 0.9%, while Australia's market was little changed. Hong Kong's Hang Seng edged up.
Read more »
Stock market today: Asian shares slip after Wall St slumps despite strong US economic dataAsian markets are mostly lower after shares slumped on Wall Street despite better-than-expected reports on the U.S. jobs market and business activity.
Read more »