Japan stocks lift Asian market higher after US retail data boosts Wall Street

Japanese stocks led the gains in Asian markets Friday after Wall Street rallied to one of its best days of the year as data showed the U.S. economy isIn Tokyo, the Nikkei 225 ended a week of gains with the index surging 3.6% to 38,062.67. It rebounded from the large selloff last week, where the higher interest rate from the Bank of Japan made investors who had borrowed in yen and invested in dollar assets sell their holdings to cover the higher costs in the “carry trades” deals.

Chinese central bank governor Pan Gongsheng said in an interview with Chinese state media on Thursday that it is developing new policies aimed at supporting economic growth in the second half of the year. These include accelerating improvements to the central banking system and placing greater emphasis on the financial technology market.Meanwhile, e-commerce giants’ reports also drew investors’ attention, with the tech giant Alibaba Group Holding seeing revenue grow 4% in the second quarter.

On Thursday, the S&P 500 jumped 1.6% for its fourth-best day of the year and its sixth straight gain as the U.S. stock market rights itself following. It’s back to within 2.2% of its all-time high set last month after briefly falling close to 10% below it.The Dow Jones Industrial Average rose 1.4%, while the Nasdaq composite burst 2.3% higher as Nvidia and other Big Tech stocks recovered more of their stumbles from the past month.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Asian stocks track Wall Street gains ahead of central bank meetingsAsian stocks started the week with gains ahead of central bank policy meetings in the United States and Japan, after a broad rally on Wall Street that capped...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares are mixed after Wall Street breaks losing streakBANGKOK (AP) — Shares were mixed Tuesday in Asia after U.S. stocks closed broadly higher, as Big Tech stocks took back some of their recent sharp declines.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asian Stocks Edge Higher as CPI Calms Wall Street: Markets Wrap(Bloomberg) -- Asian equities rose early Thursday after in-line US inflation data calmed market jitters on Wall Street as traders prepared for Federal...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asian stocks track Wall Street gains after encouraging US jobs data calm jitters over the economyAsian stocks were higher Friday after U.S. stocks rallied Thursday in Wall Street’s latest sharp swerve after a better-than-expected report on unemployment...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »