Eastern squares are confident in view of the release of updated data on consumer prices in the US
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Asian stocks mostly up after Wall Street rally. Investors are awaiting updated data on US inflation, hoping for a more contained increase. Benchmarks soared in Hong Kong, Sydney and Seoul, but fell in Tokyo and Shanghai. Hong Kong’s Hang Seng index rose 1.3% to 18,907.36 and Australia’s S&P/ASX 200 added 0.3% to 7,131.40. In Seoul, the Kospi rose 0.2% to 2,566.57. Tokyo’s Nikkei 225 fell 0.8% to 31,957.86 after North Korea fired another missile into the sea.
The Shanghai Composite Index fell 0.1% to 3,219.30. Equities rallied in Taiwan and Bangkok’s Set Index was roughly unchanged. The S&P 500 index rose 0.7% to 4,439.26 on Tuesday. The Dow Jones Industrial Average gained 0.9% to 34,261.42 and the Nasdaq composite on Tuesday added 0.5% to 13,760.70. Activision Blizzard jumped 10%, one of the largest gains in the market, after a judge ruled that Microsoft can buy the video game maker for $69 billion. Salesforce was the biggest driving force behind the Dow Jones after it climbed 3.9% on announced price hikes for its products.
Amazon also pushed the market higher, jumping 1.3% on the first day of its annual Prime Day sales event. WD-40 jumped 18.5% after it said revenue grew in the three months to in May, after two consecutive quarters in which there was little or no selling. Much of Wall Street’s gains came late in trading, with about a third of the S&P 500 gain in the past 20 minutes.
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2023-07-12 06:22:30
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