Market News

Asian Markets Surge Amid Tech Rally, US Sets New Records

tech rally US new records

Tech rally propels Asian markets; US achieves new records. Explore the surge and breakthroughs in global financial landscapes.

Global Markets Overview

Asian Stock Markets

  • Nikkei: Down 0.81%
  • Shanghai Composite: Up 1.85%
  • Hang Seng: Up 2.22%
  • ASX: Up 0.06%

Commodities

  • Gold: $2028.5 (0.12%)
  • Silver: $22.67 (0.64%)
  • Brent Oil: $79.22 (0.14%)
  • WTI Oil: $74.67 (0.15%)

Rates

  • US 10-year yield: 4.113
  • UK 10-year yield: 4.032
  • Germany 10-year yield: 2.339

News & Data

  • (USD) CB Leading Index m/m: -0.1% vs -0.3% expected

Asian Markets Surge Amid Tech Rally, US Sets New Records

Market Update

In a dynamic day of trading, Asian markets experienced significant movements, with a notable surge in tech stocks leading the way. On Wednesday, Hong Kong’s Hang Seng index stood out with an impressive 2.22% gain, primarily fueled by a rally in tech stocks. Alibaba, in particular, recorded a notable 6.57% increase after reports of founder Jack Ma’s $50 million investment.

However, mainland China’s CSI 300 faced a slight setback, dipping by 0.45%. Positive economic data emerged in Japan as December exports exceeded expectations, resulting in a robust $62.1 billion trade surplus. Australia also witnessed positive indicators, with an expansion in manufacturing activity.

Australia’s S&P/ASX 200 continued its upward trajectory, reaching 7,519.2, marking the fourth consecutive day of gains. Meanwhile, Japan’s Nikkei 225 experienced a modest decline of 0.26%, and the Topix saw a more minor loss of 0.15%. South Korea’s Kospi, on the other hand, fell by 0.43%, with major stocks like Samsung Electronics and SK Hynix facing significant losses. The small-cap Kosdaq also registered a drop of 1.35%.

In the United States, the S&P 500 set a new record, reaching an all-time high of 4,864.60, driven by positive corporate earnings assessments. The Nasdaq Composite also advanced by 0.43%, while the Dow Jones Industrial Average, after a three-day winning streak, fell 0.25%, just below the 38,000 level achieved on Monday.

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