BusinessA currency traders walks near the screen showing the Korea Composite Stock Price Index at a foreign exchange dealing room in Seoul, South Korea, Wednesday, April 24, 2024. – Asian shares have tracked Wall Street’s rally, led by a 2.4% advance for Tokyo’s benchmark Nikkei 225 index powered by strong gains for semiconductor makers.Japan’s benchmark Nikkei 225 gained more than 900 points to close at 38,460.08, its highest level in a month.
“Market participants will be closely monitoring updates for any indications of how the Bank of Japan might address foreign exchange pressures during this week’s policy meeting,” Anderson Alves of ActivTrades said in a commentary.The Hang Seng in Hong Kong added 2% to 17,158.55, while the Hang Seng Tech Index gained 3.1%. Chinese artificial intelligence company Sensetime Group’s shares surged 31.2% after it released the latest version of its SenseNova generative AI model on Tuesday.
A preliminary report from S&P Global released Tuesday seemed to hit that sweet spot. Treasury yields eased in the bond market, and stocks added to gains immediately after its release. Kimberly-Clark gained 5.5% after the maker of Huggies, Kleenex and Kotex also raised its earnings forecast for the full year. General Motors revved up by 4.4% after citingThey helped overshadow an 8.9% drop for Nucor after the steelmaker fell short of forecasts for both profit and revenue.
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