Stock market today: Asian shares zoom higher, with Nikkei over 42,000 after Wall St sets new records

Asian shares forged ahead Thursday after a blistering rally on Wall Street, with Japan’s Nikkei 225 index surging over 42,000 for the first time.The Nikkei 225 jumped 0.9% to close at 42,224.02, again surpassing its all-time high after closing at records on Tuesday and Wednesday.

TSMC’s U.S.-listed shares rose 3.5% on Wednesday after it said its revenue climbed nearly 33% in June from a year earlier. The company makes chips for Nvidia and others that have been driving the business world’s rush into artificial-intelligence technology. Markets have been knocking down records despite a slowing U.S. economy and a tightening squeeze on lower-income households.

Later Thursday, the U.S. government will release the latest monthly update on inflation. Economists expect it to show U.S. consumers paid prices for food, airline tickets and everything else that were 3.1% higher in June than a year earlier. That would be a touch slower than May’s 3.3% inflation rate.

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