Stock market today: Asian shares mostly rise, boosted by Wall Street records as Tesla zooms

📆 2024-07-03 09:15:00
📰 AP

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Asian shares are trading mostly higher after Tesla zoomed upward, helping drive the U.S. stock market to more records. Benchmarks rose Wednesday in Tokyo, Seoul, Sydney and Hong Kong, but fell in Shanghai. Asian investors were cheered by hopes for an interest rate cut in the U.S.

A currency trader walks by the screen showing the Korea Composite Stock Price Index , right, and the foreign exchange rates at a foreign exchange dealing room in Seoul, South Korea, Wednesday, July 3, 2024. Asian shares were mostly higher on Wednesday after Tesla gained more than 10%, helping to drive U.S. benchmarks to more records. Currency traders work by the screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S.

“On the radar is the Japan’s Nikkei, which may extend its run above the 40,000 level, with overnight strength in tech while the Japanese yen continues to trade at a 38-year low,” said Yeap Jun Rong, market analyst at IG. “We just want to understand that the levels that we’re seeing are a true reading of underlying inflation,” he said during a panel discussion at the European Central Bank’s monetary policy conference in Sintra, Portugal.

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