قالب وردپرس درنا توس
Home / Business / Nikkei rises, leading Asian market recovers after Wall Street's big rally

Nikkei rises, leading Asian market recovers after Wall Street's big rally



An incredible day on Wall Street, with significant indexes ending at least 5%, boosted early gains on Thursday in Asia as traders returned from a Christmas break.

Stock markets were also strengthened by crude oil futures, which rose 8% on Wednesday, reaching 17-month lows when a Russian official predicted that the oil price would stabilize in 2019.

The Japanese index Nikkei 225

NIK, + 4.15%

recovered by 3.7%. It had fallen more than 5% on Tuesday, before recovering slightly a day later. The energy sector was one of the biggest winners of the day as Inpex

1605, + 4.21%

JXTG

5020, + 7.71%

Fuji oil

5017, + 8.12%

and Japan Petroleum Exploration

1662, + 4.90%

rallied. Nintendo

7974, + 4.73%

Sony

6758, + 5.53%

and faster retail

9983, + 1.77%

also posted solid gains.

The Hong Kong Hang Seng Index

HSI, + 0.62%

reopened after the Christmas holidays, increased by 0.6%. With CNOOC, energy companies were once again among the leading companies

0883, + 3.25%

China Petroleum & Chemical

0386, + 2.84%

and PetroChina

0857, + 2.47%

and increases by 2% or more. Tech shares also gained ground with Sunny Optical

2382, + 4.39%

and AAC

increased by more than 1% in 2018, + 1.11%

.

In mainland China, the Shanghai Composite Index

SHCOMP, + 0.56%

gained 0.5%, while the Shenzhen Composite with lower capital

399106, + 0.54%

rose 0.4% as government data in November showed a decline in industry profits for the first time in nearly three years.

South Korea's Kospi

SEU, + 0.21%

added 0.2% as Samsung

005930, + 0.26%

and SK Hynix

000660, + 2.83%

won. Australia's S & P ASX 200

XJO, + 1.62%

rebounded 1.5% with energy companies such as Woodside Petroleum

WPL, + 4.04%

Santos

STO, + 2.48%

and beach energy

BPT, + 1.29%

Advance. Benchmark indices in Taiwan

Y9999, + 1.89%

and Singapore

STI, + 1.95%

rose 2%.

On Wednesday, the US markets had a four-day defeat and their best day in over 10 years. Investors have been reassured by an official signal that President Donald Trump, who has heavily criticized the Fed on Twitter, will not seek to oust Chairman Jerome Powell. The broad S & P 500 index

SPX, + 4.96%

rose 5% to 2,467.70. The Dow Jones Industrial Average

DJIA, + 4.98%

added over 1,000 points – the largest single point gain of the day – or 5% to 22,878.45. The Nasdaq composite

COMP, + 5.84%

rose 5.8% to 6,554.36.

"Wall Street's strong rebound on Wednesday is an asset to Asia, even as the market ponders the sustainability of this change and the associated low volume," said Jingyi Pan of IG in a Market Commentary.

According to Bloomberg News, the US will send a government delegation to trade talks with Chinese officials in Beijing during the week beginning January 7. In it, two persons were mentioned who are familiar with the matter. This follows a meeting between Trump and his Chinese counterpart Xi Jinping in Argentina earlier this month. The two leaders agreed to lift additional tariffs for 90 days to work on disagreements in trade and technology policy.

Benchmark US commodity

CLG9, + 0.04%

fell 12 cents in electronic trading on the New York Mercantile Exchange to $ 46.10 a barrel. On Wednesday, the contract had the biggest one-day gain in more than two years to hit $ 46.22 a barrel in New York. Brent crude

LCOG9, + 0.07%

used to price international oil, dropped 13 cents to $ 54.34 a barrel.

The rally was "a clear signal that the oil market hit was rooted in the stock market volatility, which is helping investors' moods through the unfortunate events in Washington, the higher US interest rates, the weakening of the Chinese economy and the ubiquitous US "China's trade dispute has been subdued," wrote Stephen Innes, head of Asia-Pacific trading in Oanda, in a research note.

The dollar

USDJPY, -0.29%

fell to 111.04 yen from 111.37 yen at the end of Wednesday.

Providing critical information for the US Dealing Day. Subscribe to MarketWatch's free Need to Know newsletter. Sign up here.


Source link