Asian stock markets went up on Friday morning, following a third straight day of gains on Wall Street. The rise was mainly due to strong earnings from U.S. companies and hopes that the Federal Reserve might cut interest rates soon.
In Asia:
- Japan’s Nikkei 225 jumped 1.9% to 35,701.38
- South Korea’s Kospi rose 1% to 2,547.39
- Hong Kong’s Hang Seng added 1.4% to 22,226.19
- Taiwan’s Taiex gained 2.3%
- China’s Shanghai Composite was almost flat at 3,297.36
- Australia’s market was closed for Anzac Day
The positive mood was also helped by signs that former U.S. President Donald Trump might take a softer approach toward China and Taiwan if he returns to office.
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On Wall Street, U.S. stocks soared on Thursday thanks to better-than-expected earnings from big tech companies like ServiceNow and Texas Instruments. This helped ease concerns about weaker performance in the retail sector.
Some Federal Reserve officials said they might lower interest rates as early as June, especially if Trump’s trade tariffs hurt the U.S. economy and jobs.
- The S&P 500 rose 2% to 5,484.77
- The Dow Jones went up 1.2% to 40,093.40
- The Nasdaq jumped 2.7% to 17,166.04
In other updates:
- U.S. crude oil increased by 13 cents to $62.92 per barrel
- Brent crude (global oil benchmark) rose by 22 cents to $66.77 per barrel
- The U.S. dollar went up to 142.96 yen from 142.69 yen
- The euro slightly dropped to $1.1349 from $1.1391
Overall, strong company earnings and the possibility of lower interest rates lifted investor confidence across global markets.
