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Sept. 10, 2020, 12:06 a.m. EDT

Asian markets gain after Wall Street snaps losing streak

Stocks make solid gains in Tokyo, Seoul ahead of ECB announcement

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By Marketwatch


AFP/Getty Images
The Tokyo Tower is illuminated amongst the city skyline as visitors are reflected in glass while visiting the Shibuya Sky observation deck in Tokyo.

Asian markets rose in early trading Thursday after Wall Street snapped a three-day losing streak.

Japan’s Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK -0.29%   advanced 0.8% while Hong Kong’s Hang Seng index /zigman2/quotes/210598030/delayed HK:HSI -0.32%   inched up 0.1%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.46%   rose 0.3% while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.68%   fell 0.6%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.62%   gained 0.8% while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.63%   and Singapore /zigman2/quotes/210597985/delayed SG:STI -1.17%   were mixed. Indonesian stocks /zigman2/quotes/210597981/delayed ID:JAKIDX -0.31%   tumbled 5%, while Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -1.51%   rose 0.4%.

Traders also awaited word from the European Central Bank, which was expected later in the day to keep its monetary policy unchanged.

On Wednesday, U.S. stocks booked sharp gains after three straight days of losses. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -3.43%   rose 439.58 points, or 1.6%, to close at 27,940.47, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -3.53%   closed at 3,398.96, an increase of 67.12 points, or 2%. The Nasdaq /zigman2/quotes/210598365/realtime COMP -3.73%  jumped 293.87 points, 2.7%, to finish at 11,141.56, while booking its best daily percent gain since April 29, according to Dow Jones Market Data.

“The rebound rally might suggest that investors remain confident about the economic prospects where a virus vaccine still provides a pillar of support, albeit with some dents in the armor,” wrote Stephen Innes, chief global markets strategist at AxiCorp, in a note. “But ultimately, they remain codified around the Federal Reserve Boards’ redoubtable policy support.”

/zigman2/quotes/210597971/delayed
JP : Nikkei
23,418.51
-67.29 -0.29%
Volume: 0.00
Oct. 28, 2020 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,708.80
-78.39 -0.32%
Volume: 2.01M
Oct. 28, 2020 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,269.24
+14.92 +0.46%
Volume: 17.32B
Oct. 28, 2020 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,239.11
+15.19 +0.68%
Volume: 32.38B
Oct. 28, 2020 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,345.26
+14.42 +0.62%
Volume: 705,770
Oct. 28, 2020 3:32p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
12,793.75
-81.26 -0.63%
Volume: 0.00
Oct. 28, 2020 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,483.48
-29.39 -1.17%
Volume: 0.00
Oct. 28, 2020 5:20p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,128.23
-15.82 -0.31%
Volume: 0.00
Oct. 27, 2020 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,966.40
-91.30 -1.51%
Volume: 74,532
Oct. 29, 2020 10:18a
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
26,519.95
-943.24 -3.43%
Volume: 499.63M
Oct. 28, 2020 5:11p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,271.03
-119.65 -3.53%
Volume: 3.15B
Oct. 28, 2020 5:11p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
11,004.87
-426.48 -3.73%
Volume: 3.46M
Oct. 28, 2020 5:16p
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