World News

Asia-Pacific stocks rise following overnight Wall Street surge

asia-pacific-stocks-rise-following-overnight-wall-street-surge

SINGAPORE — Shares in Asia-Pacific climbed in Friday morning trade following big gains overnight on Wall Street as the Nasdaq Composite surged 3%.

South Korea’s Kospi gained 0.27% while the S&P/ASX 200 in Australia advanced 0.46%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.26% higher.

Investors watched moves in Asia-Pacific technology stocks after their counterparts on Wall Street rallied overnight. The tech-heavy Nasdaq Composite jumped 3.06% to 12,871.53.

In Friday morning trade, shares of South Korean industry heavyweight Samsung Electronics gained nearly 2% while chipmaker SK Hynix climbed more than 1%. Cacao edged 0.11% higher.

Stock picks and investing trends from CNBC Pro:

Apple supplier stocks in the region will also be monitored after the tech giant warned of a potential $8 billion hit from supply constraints.

Markets in Japan are closed on Friday for a holiday.

Other major indexes stateside also saw gains overnight, with the S&P 500 rising 2.47% to 4,287.50. The Dow Jones Industrial Average advanced 614.46 points, or 1.85%, to 33,916.39.

currencies

The US dollar index, which tracks the greenback against a basket of its peers, was at 103.64 as it continues to climb after crossing the 102 level earlier in the week.

The Japanese yen traded at 130.71 per dollar, continuing to remain weak after crossing the 130 level against the greenback yesterday. The Australian dollar was at $0.7114, still off levels above $0.72 seen earlier this week.

0 Comments