Asian shares will be more expensive on Friday. Apple shares fell more than three percent in after-hours trading on Wall Street after the earnings review.
Stocks The global rally has continued on Friday in Asian stock markets as investors rejoice at the pause in interest rate hikes by the US Federal Reserve.
As expected, the US central bank Fed left its key interest rate unchanged on Wednesday. The market believes that the central bank is refraining from raising interest rates, at least for the time being.
Investors’ interest is also focused on the United States’ employment figures for October, which the Ministry of Labor will announce later on Friday.
US employment figures were surprisingly strong in September, when 336,000 new jobs were created outside of agriculture. However, the increase in the number of new employees is expected to slow down to 190,000 in October due to strikes in the automotive industry, among other things, Handelsbanken estimated in its morning review on Friday.
The MSCI Asia-Pacific index, which broadly tracks Asian stocks outside of Japan, had risen 0.9 percent at 8 a.m. Finnish time. The Tokyo Stock Exchange was closed for a national holiday.
In China, the CSI300 index, which tracks the country’s large companies, had risen by 1.0 percent and the Hang Seng index of the Hong Kong stock exchange by up to 2.6 percent. The stock exchanges of Sydney, Seoul and Singapore had also risen by more than one percent.
In Hong Kong, the top gainers were technology stocks, of which Alibaba’s price had risen by 1.8 percent and Tencent’s by 3.1 percent.
The best week in a year was coming for world stocks. The broad MSCI World index has so far fallen 4.3 percent this week, which is the most on a weekly basis since November last year.
Wall The Street closed sharply higher on Thursday, with the broad S&P 500 index posting its biggest gain in six months.
The indices rose strongly in Europe as well. The Helsinki Stock Exchange had its best day of the year on Thursday, when the general index rose by as much as 2.4 percent.
Among the main US indices, the broad S&P 500 rose by 1.9 percent on Thursday, and the Dow Jones of major companies rose by 1.7 percent. The technology-focused Nasdaq index rose 1.8 percent.
Among individual shares, coffee chain Starbucks jumped 9.5 percent after the company’s third-quarter results exceeded analysts’ expectations.
Apple’s stock rose 2.1 percent ahead of the earnings review, which the iPhone maker announced after the market closed.
In the aftermarket, Apple’s share price fell by 3.4 percent because the company’s revenue forecast fell short of expectations.
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