Asia-Pacific Markets Rise After Wall Street Rebounds Overnight

  • Posted on September 29, 2022
  • News
  • By FC Team
  • 523 Views

Shares in the Asia-Pacific rose on Thursday following a rebound on Wall Street overnight. The rally in the U.S. came after the Bank of England said it would intervene in the bond market to stabilize conditions.Hong Kong’s Hang Seng index jumped 1.33% in early trade. In South Korea, the Kospi added 1.31% and the Kosdaq was 2.38% higher.The Nikkei 225 in Japan advanced around 1% and the Topix index gained 0.37%. Australia’s S&P/ASX 200 jumped 1.53%.In mainland China, the Shanghai Composite rose 0.88% and the Shenzhen Component added around 1%. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.06%.Overnight in the U.S., the Dow Jones Industrial Average popped 548.75 points, or 1.88%, to 29,683.74. The S&P 500 gained 1.97% to 3,719.04,  staging a comeback after notching a new bear market low the previous session. The Nasdaq Composite was 2.05% higher at 11,051.64 at the close.EV maker Leapmotor’s shares plunge in Hong Kong debutChinese electric vehicle maker Leapmotor’s shares tumbled more than 32% from its offer price of 48 Hong Kong dollars ($6.29) per share on its first day of trade in the city.Onewo, a subsidiary of property developer China Vanke, also started trading in Hong Kong. It fell as much as 7.9% from its offer price of 48 Hong Kong dollars, but recovered slightly and was last down around 5%.Read the full story here.— Abigail NgCNBC Pro: Analyst says this FAANG stock is an evergreen winner — and investors should buy the dipTech stocks have had a difficult year so far but a Rosenblatt Securities analyst thinks the sell-off is an opportunity for long-term investors to buy the dip.  “Stay away from the losers,” he said, recommending “winners in the various secular battles and evolutionary battles” in tech.Pro subscribers can read more.— Zavier Ongcnbc.com

Author
No Image
manager

FC Team

No description...

You May Also Like