Bulletin
Investor Alert

Associated Press Archives | Email alerts

July 8, 2020, 11:28 p.m. EDT

Asian markets follow Wall Street higher after tech stocks gain

Stocks rise in Hong Kong despite U.S.-China tensions over security law

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Shanghai Composite Index (SHCOMP)
  • X
    NIKKEI 225 Index (NIK)
  • X
    Hang Seng Index (HSI)

or Cancel Already have a watchlist? Log In

By Associated Press


Bloomberg News
Pedestrians walk past the Tokyo Stock Exchange.

Asian stock markets followed Wall Street higher on Thursday following gains for major U.S. tech stocks.

The Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -0.96%   rose 0.6% and the Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK -0.39%   in Tokyo added 0.2%. The Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -1.60%   in Hong Kong gained 0.4% despite U.S.-Chinese tension over a security law imposed on the territory. The Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.39%   in Seoul was 0.7% higher and Sydney’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.62%   advanced 0.9%. New Zealand /zigman2/quotes/211587880/delayed NZ:NZ50GR -1.00%   and Singapore /zigman2/quotes/210597985/delayed SG:STI -0.53%   retreated while Jakarta /zigman2/quotes/210597981/delayed ID:JAKIDX -0.66%   rose.

U.S. stocks have recovered most of this year’s losses, helping to push up global prices, despite rising numbers of American coronavirus infections that threaten to derail economic improvement. Investors are buying technology and other companies they expect to emerge stronger from the global downturn.

On Wednesday, Wall Street turned in its sixth gain in seven days when the benchmark S&P 500 index closed up 0.8%. Amazon /zigman2/quotes/210331248/composite AMZN -1.78%  , Apple /zigman2/quotes/202934861/composite AAPL -2.27%   and Microsoft /zigman2/quotes/207732364/composite MSFT -1.79%   accounted for half that rise.

“The uptick in sentiment seems unrelated to any specific news,” said Stephen Innes of AxiCorp in a report.

On Wall Street, the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.06%   rose to 3,169.94 and Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.17%   rose 0.7%, to 26,067.28. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP -0.87%   gained 1.4% to 10,492.50.

Optimism is rising about a reopening U.S. economy, but virus case numbers are rising across much of the South and West. Some state governments have reversed plans to allow restaurants and other businesses to reopen.

Major companies are due to report quarterly results next week. They are expected to be dismal.

Benchmark U.S. crude   lost 11 cents to $40.79 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 28 cents on Wednesday to settle at $40.90. Brent crude  , the international price benchmark, shed 7 cents to $43.22 per barrel in London. It added 21 cents the previous session to $43.29.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.0076%   was unchanged at 107.31 yen.

/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,354.04
-32.43 -0.96%
Volume: 40.39B
Aug. 7, 2020 3:01p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
22,329.94
-88.21 -0.39%
Volume: 0.00
Aug. 7, 2020 3:15p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,531.62
-398.96 -1.60%
Volume: 1.61M
Aug. 7, 2020 4:08p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,351.67
+9.06 +0.39%
Volume: 812,594
Aug. 7, 2020 3:32p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,004.80
-37.40 -0.62%
Volume: 612,541
Aug. 7, 2020 5:26p
loading...
/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
11,646.68
-117.91 -1.00%
Volume: 0.00
Aug. 7, 2020 5:00p
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,545.51
-13.59 -0.53%
Volume: 0.00
Aug. 7, 2020 5:20p
loading...
/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,143.89
-34.38 -0.66%
Volume: 0.00
Aug. 7, 2020 3:00p
loading...
/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,167.46
-57.54 -1.78%
Volume: 3.94M
Aug. 7, 2020 4:00p
P/E Ratio
121.75
Dividend Yield
N/A
Market Cap
$1586.55 billion
Rev. per Employee
$359,671
loading...
/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 444.45
-10.34 -2.27%
Volume: 49.51M
Aug. 7, 2020 4:00p
P/E Ratio
33.78
Dividend Yield
0.74%
Market Cap
$1900.31 billion
Rev. per Employee
$1.98M
loading...
/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 212.48
-3.87 -1.79%
Volume: 27.82M
Aug. 7, 2020 4:00p
P/E Ratio
36.89
Dividend Yield
0.96%
Market Cap
$1607.97 billion
Rev. per Employee
$902,473
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,351.28
+2.12 +0.06%
Volume: 2.28B
Aug. 7, 2020 5:10p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,433.48
+46.50 +0.17%
Volume: 324.93M
Aug. 7, 2020 5:10p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
11,010.98
-97.09 -0.87%
Volume: 3.85M
Aug. 7, 2020 5:16p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
105.9200
-0.0080 -0.0076%
Volume: 0.0000
Aug. 7, 2020 4:59p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.