Stock market today: Asian shares mostly rise, lifted by bull market on Wall Street

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 99%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Asian shares mostly rose Friday, led by a jump on the Tokyo Stock Exchange where share prices got a boost of optimism from a new bull market on Wall Street.

Japan's benchmark Nikkei 225 surged 1.8% to 32,224.68. Australia's S&P/ASX 200 gained 0.4% to 7,126.70. South Korea's Kospi added 1.1% to 2,638.74. Hong Kong's Hang Seng advanced 0.8% to 19,453.11. The Shanghai Composite rose 0.4% to 3,225.07.On Wall Street, the S&P 500 rose 0.6% to carry it 20% above the bottom it hit in October. That means Wall Street's main measure of health has climbed out of a painful bear market, which saw it drop 25.4% over roughly nine months.

Declaring the end of a bear market may seem arbitrary, and different market watchers use different definitions, but it offers a useful marker for investors. It also provides a reminder that investors who can hold on through downturns nearly always eventually have made back all their losses in S&P 500 index funds.

A good chunk of this bull market's gains has been because the economy has refused to fall into a recession despite repeated predictions for one. It's withstood the highest interest rates since 2007, three high-profile collapses of U.S. banks since March, another threat by the U.S. government of an economy-shaking default on its debt and a series of other challenges.

Challenges remain. A report this week showed the highest number of U.S. workers applied for unemployment benefits last week since October 2021.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Asian stocks mixed as Wall St inches toward bull marketAsian shares were mixed Wednesday after a day of listless trading on Wall Street in the absence of market-moving data.
Source: CTVCalgary - 🏆 26. / 68 Read more »

Stock market today: Global shares trade mixed following technology selloff on Wall StreetGlobal shares were trading mixed Thursday after heavy selling of big-name tech stocks pushed benchmarks lower on Wall Street.
Source: CTVNews - 🏆 1. / 99 Read more »

Stock market today: World stocks mixed as Wall St inches toward bull marketWorld shares were mixed on Wednesday after China reported trade data pointing to a further slowing of its recovery from the disruptions of the pandemic.
Source: CTVNews - 🏆 1. / 99 Read more »