Stock market today: Asian shares rally, encouraged by Wall Street storming back from an early slide

📆 12-9-2024 06:47:00
📰 AP

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Financial Markets Nieuws

Federal Reserve System,Inflation,NVIDIA Corp.

Asian shares are mostly higher, encouraged by gains on Wall Street led by a handful of influential Big Tech companies. Benchmarks rose in early Thursday trading in Tokyo, Sydney, Seoul, Hong Kong and Shanghai. Japanese exporter shares like Toyota and Nintendo jumped on the back of a relatively cheap yen. The U.S.

Currency traders pass by a 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, Thursday, Sept. 12, 2024. A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S.

Shares in Nippon Steel Corp. were little changed after Keidanren, a group of Japan’s top businesses, expressed in a letter to U.S. Treasury Secretary Janet Yellen concerns about “political interference” in“America’s investment climate will be severely tarnished if such political interference prevails,” according to the letter, which was also signed by the U.S. Chamber of Commerce, Global Business Alliance, Alliance for Automotive Innovation and other groups.

The Dow Jones Industrial Average rose by 124 points, or 0.3%, after rallying back from a drop of 743 points. The Nasdaq composite jumped 2.2%., overall inflation slowed to 2.5% in August from 2.9% in July, a touch better than expected. But prices rose more than expected from July into August when ignoring food and energy, and economists say that can be a better predictor of where inflation is heading.

Besides the 8.1% jump for Nvidia, gains of 2.8% for Amazon, 2.1% for Microsoft and 6.8% for Broadcom were the strongest forces lifting the S&P 500.

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