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April 21, 2021, 11:43 p.m. EDT

Asian markets bounce back after Wall Street’s advance

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By Associated Press

BANGKOK — Asian shares were higher on Thursday after a broad advance on Wall Street led by technology companies and banks.

Japan’s Nikkei 225 index /zigman2/quotes/210597971/delayed JP:NIK +2.32% added 2.1%. Toshiba Corp. /zigman2/quotes/205628942/delayed JP:6502 +0.89% jumped 4% amid reports that Bain Capital may be considering an acquisition proposal as an earlier takeover bid by CVC Capital appears not to be progressing.

Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +1.11% rose 0.5%. In Seoul, the Kospi /zigman2/quotes/210598069/delayed KR:180721 +1.00% also picked up 0.5%. Sydney’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.45% gained 0.4%, while the Shanghai Composite index /zigman2/quotes/210598127/delayed CN:SHCOMP +1.77% was little changed. Shares also rose in Singapore /zigman2/quotes/210597985/delayed SG:STI -2.18% , Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +1.00% and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.63% .

On Wednesday, the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.49% rose 0.9%, snapping a two-day slide, to close at 4,173.42. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.06% gained 0.9% to 34,137.31. Both the S&P 500 and Dow hit all-time highs on Friday. The technology-heavy Nasdaq /zigman2/quotes/210598365/realtime COMP +2.32% added 1.2% to 13,950.22.

Investors are weighing company earnings reports while keeping an eye on bond yields, which eased lower. The yield on the 10-year Treasury slipped to 1.54% from 1.56%.

Much of the market’s focus over the next two weeks will be on individual companies and the outcome of their quarterly results. About 80 members of the S&P 500 are due to report results this week, as well as one out of every three members of the Dow. On average, analysts expect quarterly profits across the S&P 500 to climb 24% from a year earlier, according to FactSet.

“Those companies that meet or beat on revenue and paint a nice picture for the rest of the year are being rewarded,” said J.J. Kinahan, chief strategist with TD Ameritrade. “When a railroad company is saying we really see improvement for the second half of the year, that’s a really good sign.”

Investors are looking to justify the market’s advance this year, despite the lingering pandemic and higher-than-normal unemployment. There are also signs of COVID infections increasing outside the U.S. in major economies such as  India  and  Brazil  once again.

In other trading, U.S. benchmark crude oil /zigman2/quotes/209724872/delayed CLM21 +0.21% shed 50 cents to $60.85 per barrel in electronic trading on the New York Mercantile Exchange. It lost $1.32 to $61.35 per barrel on Wednesday.

Brent crude , the international standard, declined 46 cents to $64.86 per barrel.

The U.S. dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.1069% slipped to 108.00 Japanese yen from 108.08 yen.

/zigman2/quotes/210597971/delayed
JP : Nikkei
28,084.47
+636.46 +2.32%
Volume: 0.00
May 14, 2021 3:15p
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/zigman2/quotes/205628942/delayed
JP : Japan: Tokyo
¥ 4,510.00
+40.00 +0.89%
Volume: 4.90M
May 14, 2021 3:00p
P/E Ratio
17.95
Dividend Yield
1.77%
Market Cap
¥2046.84 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
28,027.57
+308.90 +1.11%
Volume: 1.88M
May 14, 2021 4:08p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,153.32
+31.21 +1.00%
Volume: 836,404
May 14, 2021 3:32p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,014.20
+31.50 +0.45%
Volume: 520,962
May 14, 2021 5:18p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,490.38
+60.84 +1.77%
Volume: 33.70B
May 14, 2021 3:01p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,055.02
-68.24 -2.18%
Volume: 0.00
May 14, 2021 5:20p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
15,827.09
+156.99 +1.00%
Volume: 0.00
May 14, 2021 1:33p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,938.35
-37.44 -0.63%
Volume: 0.00
May 11, 2021 3:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,173.85
+61.35 +1.49%
Volume: 1.91B
May 14, 2021 5:02p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,382.13
+360.68 +1.06%
Volume: 307.38M
May 14, 2021 5:02p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
13,429.98
+304.99 +2.32%
Volume: 3.61M
May 14, 2021 5:16p
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/zigman2/quotes/209724872/delayed
US : U.S.: Nymex
$ 65.51
+0.14 +0.21%
Volume: 356,176
May 14, 2021 4:59p
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
109.3480
-0.1170 -0.1069%
Volume: 0.0000
May 14, 2021 4:59p
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