Navigation

© Zeal News Africa

Global Markets in Flux: Asian Shares React to Wall Street's Record Drift

Published 1 day ago2 minute read
Uche Emeka
Uche Emeka
Global Markets in Flux: Asian Shares React to Wall Street's Record Drift

Asian stock markets displayed a mixed performance on Thursday, influenced by U.S. markets hovering near record highs. U.S. futures showed a slight uptick, while oil prices declined. Japan's Nikkei 225 index rose modestly by 0.2% to 51,139.48, supported by the conclusion of a record 43-day U.S. government shutdown. President Donald Trump signed a funding bill late Wednesday, ending the shutdown that had caused financial strain for federal workers, disrupted air travel, and increased demand at food banks. The resolution was viewed positively, as the shutdown had not only halted government spending but also delayed the release of key federal economic data.

Elsewhere in Asia, Hong Kong's Hang Seng index fell 0.6% to 26,766.71, while mainland Chinese stocks gained, with the Shanghai Composite rising 0.4% to 4,016.24 ahead of expected updates on China's lending data. Australia's S&P ASX 200 index dropped 1% to 8,715.00, marking a third consecutive session of decline. The fall followed strong jobs data showing unemployment falling to 4.3% in October from 4.5% in September, which diminished expectations of immediate interest rate cuts. South Korea's Kospi closed 0.1% higher at 4,154.03, whereas Taiwan's Taiex index gave up earlier gains to finish 0.1% lower, and India's BSE Sensex fell 0.2%.

On Wall Street, movements were mixed on Wednesday. The S&P 500 added 0.1% to 6,850.92, remaining near its all-time high set a few weeks ago. The Dow Jones Industrial Average surged 0.7% to 48,254.82, marking a new record for the second consecutive day. In contrast, the Nasdaq composite slipped 0.3% to 23,406.46. Advanced Micro Devices (AMD) emerged as a top performer, with shares gaining 9% after CEO Lisa Su projected annual compounded revenue growth exceeding 35% over the next three to five years, citing strong demand for its high-performance chips across data centers, gaming, and AI-driven applications, which investors interpreted as a sign of sustained growth momentum.

Recommended Articles

Loading...

You may also like...