Stock market today: Asian shares trade higher after Wall St rally takes S&P 500 near record

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Stocks in Asia are trading higher after a rally on Wall Street that pulled the S&P 500 back within 1% of its record. Investors were focused on the release of China’s April inflation figures.

A currency trader works near the screen showing the Korea Composite Stock Price Index at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, May 10, 2024. A currency trader passes by the screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, May 10, 2024.

Japan’s benchmark Nikkei 225 rose 0.4% to 38,229.11, while Australia’s S&P/ASX 200 rose 0.5% to 7,761.90. South Korea’s Kospi added 0.8% to 2,733.06. Equinix jumped 11.5% after reporting stronger profit for the latest quarter than analysts expected. The company, which runs data centers around the world, also said an independent investigation led by its board found no accounting inconsistencies or errors that would require financial restatements. Earlier, an investment firm had accused it of “major accounting manipulation.”

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