Stocks in the Asia-Pacific rallied on Friday after Wall Street stocks hit all-time highs on the back of an upbeat outlook for Nvidia Corp.
The S&P ASX 200 was trading 0.31% higher as of 06:37 a.m., while KOSPI advanced 0.96% to 2,680.95. The Japanese stock markets are closed on Friday as the country celebrated the Emperor’s birthday.
The bullish mood continued on Wall Street overnight, with a buoyant outlook for Nvidia Corp., as it surged 16%, while fresh data showed that the U.S. economy is still going strong, Bloomberg reported.
The S&P 500 was 2.11% higher, and the Nasdaq 100 advanced 2.96% as of Thursday. The Dow Jones Industrial Average traded 1.18% higher.
Brent crude was up 0.77% at $83.67 a barrel. Gold was up 0.08% at $2,026.09 an ounce.
The GIFT Nifty was trading 16.5 points, or 0.07%, down at 22,311.50 as of 8:17 a.m.
India’s benchmark stock indices recouped losses to end higher on Thursday as information technology and auto stocks led the gains.
The Nifty ended 162.40 points, or 0.74%, up to a record closing high of 22,217.45, and the S&P BSE Sensex closed 535.15 points, or 0.74%, higher at 73,158.24.
Overseas investors turned net sellers of Indian equities on Thursday after a day of buying. Foreign portfolio investors sold stocks worth Rs 1,410.1 crore, while domestic institutional investors turned net buyers and bought equities worth Rs 1,823.7 crore after a day of selling, the NSE data showed.
The Indian currency strengthened 12 paise to close at Rs 82.85 against the U.S. dollar.
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
