Bussiness
Japan’s Nikkei 225 hits over 2-month high; Asian chip firms track Nvidia rebound
Sydney Harbour taking in the Harbour Bridge, Opera House and ferries at sunrise during the COVID-19 pandemic on April 20, 2020 in Sydney, Australia.
James D. Morgan | Getty Images News | Getty Images
Asia-Pacific markets mostly rose Wednesday as semiconductor and related stocks jumped after Nvidia rallied overnight, while higher Australia’s inflation rate climbed for a third straight month.
Australia’s headline inflation for May came in at 4%, compared with the 3.6% recorded in April. The core inflation rate also came in at 4%, higher than the 3.8% expected by a Reuters poll of economists.
| TICKER | COMPANY | NAME | PRICE | CHANGE | %CHANGE |
|---|---|---|---|---|---|
| .N225 | Nikkei 225 Index | NIKKEI | 39,667.07 | +493.92 | +1.26% |
| .HSI | Hang Seng Index | HSI | 18,089.93 | +17.03 | +0.09% |
| .AXJO | S&P/ASX 200 | ASX 200 | 7,783.00 | -55.80 | -0.71% |
| .SSEC | Shanghai | SHANGHAI | 2,972.53 | +22.53 | +0.76% |
| .KS11 | KOSPI Index | KOSPI | 2,792.05 | +17.66 | +0.64% |
| .FTFCNBCA | CNBC 100 ASIA IDX | CNBC 100 | 9,895.90 | +47.78 | +0.49% |
Australia’s S&P/ASX 200 lost 0.71%, dragged by retail trade stocks, closing at 7,783. The index was the only one in negative territory throughout Asia.
Japan’s Nikkei 225 gained 1.26% and ended at 39,667.07, hitting its highest level since April 9, while the broad-based Topix was up 0.56% and reached its highest since March 22.
South Korea’s Kospi gained 0.64% to 2,792.05, while the small-cap Kosdaq traded close to the flatline and finished slightly up at 842.12.
Semiconductor and related stocks rose after Nvidia shares closed 6.76% higher overnight. Advantest jumped more than 7%, while Taiwan Semiconductor Manufacturing Company, SK Hynix and MediaTek increased 1.59%, 5.33% and 1.44%, respectively. Samsung Electronics rebounded and gained 0.62%.
Hong Kong’s Hang Seng index was marginally up in its final hour of trade, while mainland China’s CSI 300 closed 0.65% higher at 3,480.26 – rebounding off a near four-month low.
Overnight in the U.S., the Dow Jones Industrial Average declined, shedding 0.76% and closing at 39,112.16. Led by an Nvidia rebound, the broad market S&P 500 added 0.39% while the Nasdaq Composite advanced 1.26%, with both indexes ending three-day losing streaks.
— CNBC’s Hakyung Kim and Samantha Subin contributed to this report.
The latest jobs in search marketing
Deloitte Ports and Freight Yearbook 2024: DAESCHI mid-year update | Infrastructure | Deloitte New Zealand
Dow soars more than 700 points to close at another record high
Albares reiterates Foreign Ministry recommendations to “travel safely” on holidays
Let’s take this offline: why indie fashion boutiques are back in fashion
:max_bytes(150000):strip_icc()/roundup-writereditor-loved-deals-tout-f5de51f85de145b2b1eb99cdb7b6cb84.jpg "I’m a Travel Writer, and Out of the 5 Million Prime Day Deals on Site, These Are the 12 I’m Shopping")
I’m a Travel Writer, and Out of the 5 Million Prime Day Deals on Site, These Are the 12 I’m Shopping
Military Installation Job Fairs: Setting Realistic Expectations for Veterans
Shooting at Baltimore’s Westside Shopping Center leaves man dead, two injured
Cybersecurity jobs available right now: July 17, 2024 – Help Net Security
