11/07/2024 – 6:09
By Sergio Caldas*
São Paulo, 07/11/2024 – Asian stock markets closed higher across the board on Thursday, with Tokyo hitting a new all-time high, following a rally on Wall Street.
Japan’s Nikkei index rose 0.94% in Tokyo to 42,224.02 points, surpassing the 42,000-point barrier for the first time after hitting records in the previous two trading sessions, while the Hang Seng advanced 2.06% in Hong Kong to 17,832.33 points, South Korea’s Kospi rose 0.81% in Seoul to 2,891.35 points and the Taiex gained 1.60% in Taiwan to 24,390.03 points.
In Taiwan, only TSMC shares jumped 3.3%, mirroring a similar performance yesterday by its New York-listed ADR. The world’s largest semiconductor maker, TSMC is a supplier to U.S.-based Nvidia, which is at the center of the frenzy surrounding artificial intelligence (AI) technology.
In mainland China, the Shanghai Composite Index rose 1.06% to 2,970.36 points, and the less comprehensive Shenzhen Composite Index rose more sharply, 2.35% to 1,619.82 points, also helped by a decision by the country’s securities regulatory commission, known as the CSRC, to tighten controls on short selling and quantitative trading.
Yesterday, the New York stock exchanges saw gains of more than 1%, with new records for the S&P 500 and Nasdaq indexes, amid expectations that US interest rates will start to be cut this semester, possibly from September, even though the chairman of the Federal Reserve (Fed), Jerome Powell, has maintained a cautious stance in testimony to the US Congress over the last two days.
In Oceania, the Australian stock market followed the positive wave on Wall Street and Asia and remained in the blue, very close to its record mark. The S&P/ASX 200 advanced 0.93% in Sydney, to 7,889.60 points.
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*With information from Dow Jones Newswires
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