Currency traders work in front of screens showing the Korea Composite Stock Price Index , top 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, Wednesday, June 28, 2023. Asian shares were mixed on Wednesday despite a rally on Wall Street driven by optimism over reports suggesting the American economy is in better shape than feared.
Japan’s benchmark Nikkei 225 jumped 2.0% to finish at 33,193.99. A weakening Japanese yen helped lift exporter shares like autos. Toyota Motor Corp. surged 2.8%, while video-game maker Nintendo Co. edged up 2.0%. A cheap yen raises the value of overseas earnings when converted into yen.
“Following some early week jitters, we’ve now seen a return to business-as-usual in global equities. Markets are taking some comfort from U.S. economic indicators which are showing no signs of an imminent ‘hard landing’ with regard to growth,” Tim Waterer, chief market analyst at KCM Trade, said in a report.
to its highest level since the start of 2022, and orders for long-lasting manufactured goods unexpectedly grew, beating economists’ forecasts for a pullback.
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