Stock market today: Asian shares are mostly higher after Wall Street rally caps a dismal week

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Honda Motor Co. and Nissan Motor Corp. were expected to hold a news conference later Monday as reports speculated on a possible merger between Japan’s second and third-largest automakers. Honda’s shares, which fell after news of the talks on a deal surfaced last week, were up 0.8%. Nissan’s, which had soared, fell 0.9%.

Elsewhere in Asia, Hong Kong’s Hang Seng gained 0.7% to 19,857.98, while the Shanghai Composite index edged 0.2% higher.South Korea’s Kospi added 1.5% to 2,440.62 and Taiwan’s Taiex jumped 2.5%., with TSMC, the world’s biggest computer chip maker, gaining 3.9%. Hon Hai Precision Industry, which reportedly has been maneuvering to buy a big stake in Nissan, jumped 3.8%.On Friday, the S&P 500 rallied 1.1%, closing at 5,930.85. The Dow Jones Industrial Average jumped 1.2% to 42,840.

The threat of higher inflation was one of the reasons Fed Chair Jerome Powell gave last week when the central bank hinted itthis year amid the widespread assumption the Fed would deliver a string of cuts to rates into 2025. Now traders are largely betting on one, two or perhaps even zero next year, according to data from CME Group.after running so high and that the market likely needed everything to go correctly to justify its stellar gains for the year.

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