Asian benchmarks rose Friday, cheered by gains on Wall Street as comments from the Federal Reserve chairman assured markets on the expected rate rise.
Japan’s benchmark Nikkei 225 JP:NIK rose 0.4% in morning trading, and Australia’s S&P/ASX 200 AU:XJO added 0.5%. Hong Kong’s Hang Seng HK:HSI jumped 2.5%, while the Shanghai Composite CN:SHCOMP added 0.7%. Trading was closed in South Korea for a holiday. Stocks declined in Indonesia ID:JAKIDX but gained in Singapore SG:STI.Japan’s benchmark Nikkei 225 NIK rose 0.4% in morning trading, and Australia’s S&P/ASX 200 XJO added 0.5%. Hong Kong’s Hang Seng HSI jumped 2.
Investors are also eyeing interest rates, as the European Central Bank made its largest-ever rate increase to fight inflation. The move is in line with steps taken by the U.S. Federal Reserve and other central banks. Stocks bounced back on Wall Street, keeping the major indexes on track for their first weekly gain in four weeks. The S&P 500 SPX rose 26.31 points, or 0.7%, to 4,006.18. The Dow DJIA swung from a 259-point loss to a gain of 193.24 points, closing at 31,744.52. The Nasdaq COMP gained 70.23 points to 11,862.13.
“There is a record of failed attempts to get inflation under control, which only raises the ultimate costs to society,” Powell said. “But once investors realized that he wasn’t really saying anything different than what he had said before, the markets swung back,” he said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian markets rise as Wall Street looks to break 3-week losing streakAsian benchmarks mostly rose Thursday, as investor optimism got a perk from a rally on Wall Street that's on track to break a three-week losing streak.
Read more »
Asian Stock Market: Bears keep reins amid downbeat Aussie/China data, hawkish Fed betsAsian Stock Market: Bears keep reins amid downbeat Aussie/China data, hawkish Fed bets – by anilpanchal7 Asia RiskAppetite Fed Recession Equities
Read more »
Tony Leung to be Feted as Asian Filmmaker of the Year at Busan Film FestivalTony Leung Chiu-wai, the Hong Kong star of “In The Mood For Love” and Marvel’s “Shang-Chi and the Legend of the Ten Rings” has been named Asian Filmmaker of the Year by the Busan International Film…
Read more »
Rhode Island becomes fourth state to require Asian American history in schoolsRhode Island is joining a growing list of states mandating that Asian American and Pacific Islander history be taught in public schools. - NBCAsianAmerica
Read more »
Fort Worth man arrested in slaying of Jin Shin, a ‘pillar of Dallas’ Asian community’A Fort Worth man was arrested Wednesday in last month’s slaying of Chin “Jin” Shin, who has been described as a “pillar” of the local Asian community. Markynn...
Read more »