Asian markets rise after earnings-fueled rally on Wall Street

Hong Kong’s Hang Seng index HK:HSI surged 0.4% and the Kospi KR:180721 in Seoul rose 0.5%. In Sydney, the S&P/ASX 200 AU:XJO climbed 0.5%, while the Shanghai Composite index CN:SHCOMP slipped 0.2%. Benchmarks rose in Taiwan TW:Y9999 and Indonesia ID:JAKIDX, but stocks fell in Singapore SG:STI. Markets were closed in Japan for a holiday.Hong Kong’s Hang Seng index HSI surged 0.4% and the Kospi 180721 in Seoul rose 0.5%. In Sydney, the S&P/ASX 200 XJO climbed 0.

On Tuesday, the S&P 500 SPX rose 1.4% to 4,003.58 and the Dow Jones Industrial Average DJIA added 1.2% to 34,098.10. The tech-heavy Nasdaq composite COMP added 1.4% to 11,174.41. “Ahead of the release of Fed minutes, much focus has been placed on a slowing down on the pace of rate hikes,” Mizuho Bank said in a commentary. “Nonetheless, even if a Fed rate hike step down might be imminent, the picture on risk/growth outlook is far from certain.”

A little false hope

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