© Reuters.
Asia-Pacific markets opened on a positive note, following a comeback in the US stock market.
By 11:45 am AEDT (12:45 am GMT) the Australian increased by 1.1%, while both the in South Korea and Japan’s rose 1.6% each.
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US stocks broke a brief losing streak, aided by advances in the technology sector.
The added 201 points to close at 37468, the S&P 500 climbed 0.9% to 4780, and the Nasdaq increased 1.4% to 15055.
Chip stocks rallied after Taiwan Semiconductor Manufacturing (NYSE:) provided an optimistic outlook exceeding analysts’ expectations, while Humana Inc (NYSE:) shares fell 8% dragging down managed-care competitors after issuing a warning about higher-than-expected medical costs.
Treasury yields were lifted as initial dropped to 187,000, their lowest since September 2022, reducing expectations of an immediate Fed rate cut.
In terms of commodities, grew 1.4% to US$78.97 a barrel, and prices increased 0.8% to US$2,022.67 per ounce.
In the bond markets, Australian and government bonds yielded 3.985% and 4.325% respectively. US Treasury yield remained steady at 4.367%, and the yield climbed to 4.169%.
Chinese shares rebounded with the finishing 0.4% higher at 2845.78 after a significant sell-off earlier in the session, courtesy of a rally in semiconductor stocks. The Hong Kong rose 0.75% to 15391.79, ending a four-session losing streak.
Japanese Nikkei Stock Average remained unchanged at 35466.17 as losses in pharmaceutical and chemical sectors were balanced by gains in the auto industry. Indian shares suffered a setback due to a subdued global sentiment, with the Sensex dropping 0.4% to 71186.86.
European markets rebounded with the index advancing 0.6% to 470.45, as US jobless claims fell to a 16-month low and US tech stocks gained.
The French CAC-40 ended up 1.1%, and closed 0.8% higher. UK’s increased slightly by 0.17%.
