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May 14, 2021, 12:06 a.m. EDT

Asian markets climb after Wall Street halts its skid

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By Associated Press

BANGKOK — Asian shares rose Friday after Wall Street put the brakes on a three-day losing streak with a broad stock market rally powered by Big Tech companies and banks.

Shares in big semiconductor manufacturers led the advance in Asia, where almost all markets opened higher.

Japan’s Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK +0.11% added 1.9% and the Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.40% in Seoul picked up 0.9%, lifted by gains for Samsung Electronics /zigman2/quotes/209800866/delayed KR:005930 +0.25% and SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +1.23% , which gained 1.9% and 1.3% after announcing plans to expand their investments in chip production and development.

In Hong Kong, the Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +1.25% advanced 1%. The Shanghai Composite index /zigman2/quotes/210598127/delayed CN:SHCOMP +0.39% gained 1.2%, while Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.36% was 0.9% higher. Stocks rose in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +1.14% but slipped in Singapore /zigman2/quotes/210597985/delayed SG:STI +0.49% .

Markets rallied as prices of key commodities such as copper, zinc and aluminum slipped, alleviating  concerns over inflation  that triggered sell-offs earlier in the week.

On Thursday, the S&P 500 notched a 1.2% gain, clawing back almost half of its loss from a day earlier, when it had its biggest one-day drop since February. Even so, the benchmark index is on track for a 2.8% weekly decline, which would be its largest since January. The other major indexes were also on pace for sharp weekly declines, despite recouping some of their losses.

The S&P 500 /zigman2/quotes/210599714/realtime SPX +0.51% gained 49.46 points to 4,112.50. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.20% rose 1.3% to 34,021.45. The Nasdaq /zigman2/quotes/210598365/realtime COMP +0.79% climbed 0.7% to 13,124.99.

Investors have been questioning whether rising inflation will be something transitory, as the Federal Reserve has said, or something more durable that the Fed will have to address. The central bank has kept interest rates low to aid the recovery, but concerns are growing that it will have to shift its position if inflation starts running too hot.

Bond yields have risen sharply this week but pulled back slightly on Thursday. The yield on the 10-year Treasury note was 1.65% on Friday, compared with 1.70% on Wednesday.

The price of U.S. crude oil lost 18 cents to $63.63 per barrel in electronic trading on the New York Mercantile Exchange. It fell 3.4% on Thursday after the Colonial gasoline pipeline on the East Coast was reopened late Wednesday.

Brent crude , the international standard for pricing, lost 25 cents to $66.80 per barrel.

The U.S. dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0678% rose to 109.60 Japanese yen from 109.46 yen late Thursday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
28,916.68
+32.55 +0.11%
Volume: 0.00
June 23, 2021 11:30a
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,276.82
+12.94 +0.40%
Volume: 638,203
June 23, 2021 12:13p
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/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
80,200.00
+200.00 +0.25%
Volume: 7.23M
June 23, 2021 12:13p
P/E Ratio
19.25
Dividend Yield
1.80%
Market Cap
₩537467.86 billion
Rev. per Employee
₩2.16B
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/zigman2/quotes/206420319/delayed
KR : S. Korea: KRX
123,500
+1,500 +1.23%
Volume: 1.56M
June 23, 2021 12:13p
P/E Ratio
16.58
Dividend Yield
0.95%
Market Cap
₩83448.22 billion
Rev. per Employee
₩1.10B
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
28,662.44
+352.68 +1.25%
Volume: 868,602
June 23, 2021 11:18a
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,571.25
+13.84 +0.39%
Volume: 18.00B
June 23, 2021 11:18a
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,315.60
-26.60 -0.36%
Volume: 242,927
June 23, 2021 1:13p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
17,270.05
+194.50 +1.14%
Volume: 0.00
June 23, 2021 11:13a
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,124.30
+15.10 +0.49%
Volume: 0.00
June 23, 2021 11:18a
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/zigman2/quotes/210599714/realtime
US : S&P US
4,246.44
+21.65 +0.51%
Volume: 1.78B
June 22, 2021 5:15p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
33,945.58
+68.61 +0.20%
Volume: 285.33M
June 22, 2021 5:15p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
14,253.27
+111.79 +0.79%
Volume: 4.03M
June 22, 2021 5:16p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
110.7480
+0.0750 +0.0678%
Volume: 0.0000
June 22, 2021 11:33p
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