Asian stock markets followed Wall Street’s positive performance, reacting to news of potential US-China trade talks. The surge in commodity prices, including gold and oil, further buoyed market sentiment.
In Australia, the S&P/ASX 200 index reversed previous losses, with gains across all sectors, particularly in mining and energy stocks. Major miners like BHP Group and Fortescue Metals saw upticks, while oil stocks showed mixed performance. Tech stocks also made modest gains, with companies like Afterpay and WiseTech Global posting positive movements.
Gold miners in Australia experienced gains, with Evolution Mining and Northern Star Resources leading the charge. Among the big four banks, Commonwealth Bank and National Australia Bank edged up, while ANZ Banking and Westpac saw increases. However, shares in IDP Education plummeted after downgrading earnings guidance due to global policy uncertainty.
Meanwhile, in Japan, the Nikkei 225 index rebounded from previous losses, with index heavyweights and tech stocks driving gains. SoftBank Group and Fast Retailing showed positive movements, while automakers like Honda and Toyota faced declines. Among tech companies, Advantest and Screen Holdings saw increases, while banking giants like Mitsubishi UFJ Financial and Mizuho Financial experienced losses.
Elsewhere in Asia, markets in Hong Kong, China, Singapore, and Taiwan trended higher, while New Zealand, Malaysia, and Indonesia saw declines. South Korea remained closed for a presidential election. On Wall Street, stocks initially faced pressure but later rebounded, with the Nasdaq reaching new highs. European markets closed lower, while crude oil prices surged amid geopolitical tensions and reports of US sanctions on Moscow.
The positive market movements reflect ongoing global economic dynamics and geopolitical developments. The potential resumption of US-China trade talks and fluctuations in commodity prices continue to influence investor sentiment across Asian and international markets.
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