Investor Alert

Associated Press

Oct. 15, 2021, 12:12 a.m. EDT

Asian markets rise; chip maker TSMC rallies on outlook upgrade

By Associated Press

Asian shares were higher Friday after technology companies powered the biggest gain on Wall Street since March.

All major regional indexes advanced, with Tokyo gaining 1.4%.

Taiwan shares (TAIWAN:TW:Y9999) jumped 2.2% on news that computer chip maker TSMC upgraded its profit outlook.

TSMC (TAI:TW:2330) , the world’s biggest chip maker, climbed 4.4% after its CEO confirmed reports it plans to open a joint venture semiconductor fabrication plant in western Japan with Sony Corp. (TKS:JP:6758) .

Tokyo’s Nikkei 225 (NIKKEI:JP:NIK) added more than 400 points and the Hong Kong’s Hang Seng (HONG:HK:HSI) climbed 0.8%. In Seoul, the Kospi (KOREA:KR:180721) advanced 0.9%.

The Shanghai Composite index (SHG:CN:SHCOMP) picked up 0.3%, while the S&P/ASX 200 (S&P:AU:XJO) in Australia gained 0.5% to 7,340.70. Stocks slipped in Indonesia (INDONESIA:ID:JAKIDX) but gained in Singapore (SES:SG:STI) .

On Thursday, the S&P 500 (S&P:SPX) jumped 1.7% to 4,438.26 as a wave of buying gained momentum from a day earlier, when the market broke a three-day losing streak.

The Dow Jones Industrial Average (DOW:DJIA) rose 1.6% to 34,912.56 and the tech-heavy Nasdaq (NASDAQ:COMP) climbed 1.7% to 14,823.43.

Bond yields edged lower. The yield on the 10-year Treasury fell to 1.52% from 1.55% late Wednesday.

In other trading on Friday, U.S. benchmark crude oil gained 44 cents to $81.75 per barrel in electronic trading on the New York Mercantile Exchange. It surged 87 cents to $81.31 per barrel on Thursday.

Brent crude , the standard for international pricing, added 49 cents to $84.49 per barrel.

The U.S. dollar (XTUP:USDJPY) strengthened to 113.92 Japanese yen from 113.67 yen late Thursday.

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