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Home News Asian Markets React to Wall Street Records

Asian Markets React to Wall Street Records

by Barbara

Asian markets displayed a mixed performance on Wednesday, with several key indices showing gains following record highs in U.S. stocks. However, cautious trading sentiments prevailed.

In Japan, the Nikkei 225 dropped by 0.6% to 38,719.35, impacted by the country’s reported trade deficit increase for the previous month. Import costs surged, outpacing an 8% rise in exports, disappointing analysts’ expectations.

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Conversely, Hong Kong’s Hang Seng index rose by 0.4% to 19,288.93, led by electric vehicle manufacturers such as Xpeng, which experienced a significant 13.5% surge in shares due to better-than-anticipated earnings in the first quarter.

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The Shanghai Composite index posted modest gains, increasing by less than 0.1% to 3,158.64. South Korea’s Kospi inched up by 0.1% to 2,726.35, while Australia’s S&P/ASX 200 saw a marginal increase to 7,855.00.

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Taiwan’s Taiex showed the strongest performance, climbing by 1.2%, driven by a 2.1% increase in shares of market heavyweight Taiwan Semiconductor Manufacturing Corp.

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Markets in Thailand remained closed due to a holiday.

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On Tuesday, the S&P 500 reached 5,321.41, marking a 0.3% increase and surpassing its previous record. The Nasdaq composite also saw gains, rising by 0.2% to 16,832.62, following its recent all-time high. The Dow Jones Industrial Average climbed by 0.2% to 39,872.99, approaching its previous peak.

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