Asia Bounces Back After U.S. Recovers

11/19/2024 12:40:15 AM

(MENAFN- Baystreet) Asia-Pacific markets closed higher on Friday, tracking gains on Wall Street after new labour market data boosted investor confidence in the U.S. Economy and eased recession concerns following a sharp market selloff earlier in the week.
In Japan, the NIKKEI 225 index gained 193.85 points, or 0.6%, to 35,025.
In Hong Kong, the Hang Seng index leaped 189.4 points, or 1.2%, to 17,090.23.
Earlier this week, global equities and currencies plunged after U.S. employment data renewed recession fears and investors started to unwind
their yen“carry trades.”
CHINA
In Shanghai, the CSI 300 declined 11.31 points, or 0.3%, to 3,331.63.
Investors are parsing China's consumer price index and producer price index for July.
China's consumer price index climbed 0.5% year-on-year, beating Reuters' estimates of a 0.3% rise. The figure compares to a 0.2% climb in June.
The producer price index for July fell by 0.8% from a year ago. That was slightly less than the 0.9% forecast decline, and unchanged from June's 0.8% drop.
In other markets
In Taiwan, the Taiex index hiked 598.9 points, or 2.9%, to 21,469.
In Singapore, the Straits Times Index inched up 12.11 points, or 0.4%, to 3,261.83.
In Korea, the Kospi index recovered 31.7 points, or 1.2%, to 2,588.43.
In New Zealand, the NZX 50 sank 13.81 points, or 0.1%, to 12,243.46.
In Australia, the ASX 200 regained 95.72 points, or 1.3%, to 7,777.70.

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