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Stock market today: Asian shares gain despite Wall Street’s tech-led retreat | Elaine Kurtenbach / The Associated Press

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📈 Stock Market Update 📉: Asian shares rose despite Wall Street's tech-led dip. The Nikkei 225 climbed 0.3%, Hang Seng gained 1.5%, and Kospi surged 1.8%. Oil prices edged up as Treasury yields eased. #KnowMore about today's market movements and what they mean for investors.

Asian shares advanced on Thursday even after sinking technology stocks sent Wall Street lower in the S&P 500’s worse losing streak since the start of the year.Tokyo’s Nikkei 225 climbed 0.3% to 38,090.87 and the Hang Seng in Hong Kong gained 1.5% to 16,489.59.South Korea’s Kospi led the region’s gains, surging 1.8% to 2,631.15.On Wednesday, the S&P 500 lost 0.6%, to 5,022.21. It’s down 4.4% since setting a record late last month.

The 10-year Treasury yield sank to 4.58% from 4.67% late Tuesday. The two-year yield, which moves more closely with expectations for the Fed, fell to 4.92% from 4.99%. the central bank may hold its main interest steady for a while. It wants to get more confidence that inflation is sustainably heading toward its target of 2%. Its main interest rate has been sitting at its highest level since 2001.

With little near-term help expected from an easing of interest rates, companies will need to deliver fatter profits to justify their big runs in stock price since autumn.

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 /  🏆 19. in PT
 

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