Global markets rise after Wall Street hit record high

by Jonathan Adams
Wall Street

In Asian trading, Tokyo’s Nikkei 225 index jumped 0.6% to 38,703.51, the Hang Seng in Hong Kong was up 0.3% to 18,480.61, and Australia’s S&P/ASX 200 added 0.7% to 7,821.80

Global markets rose Thursday after Wall Street rose to records Wednesday as the frenzy around AI technology keeps sending stocks higher.

European markets opened higher as investors awaited a decision by the European Central Bank (ECB). It is expected to reduce its key interest rate from a record high of 4% later in the day. France’s CAC 40 gained 0.3% to 8,032.86, and Germany’s DAX soared 1% to 18,758.43. Britain’s FTSE 100 rose 0.2% to 8,259.40.

The future for the Dow Jones Industrial Average (DJIA) was 0.1% lower while the S&P 500 future remained unchanged.

In Asian trading, Tokyo’s Nikkei 225 index jumped 0.6% to 38,703.51. The Hang Seng in Hong Kong was up 0.3% to 18,480.61 and the Shanghai Composite index shed 0.5% at 3,048.79.

Australia’s S&P/ASX 200 added 0.7% to 7,821.80 after data from the Australian Bureau of Statistics (ABS) showed the country’s trading surplus rebounded in April, with exports dropping 2.5% and imports declining 7.2%.

Taiwan’s Taiex soared 1.9%, with contract electronics maker Foxconn’s shares dropping 1.2% despite the firm reporting its revenue increased 22.1% year-on-year in May, a record high for the month.

In India, the Sensex gained 0.7% after Wednesday Prime Minister Narendra Modi’s coalition won a majority in parliament in the country’s national elections. In Bangkok, the SET shed 0.6%.

South Korea’s markets were shut for a holiday.

On Wednesday, the S&P 500 jumped 1.2% to 5,354.03. The Nasdaq composite climbed 2% to 17,187.90 and likewise set a record. The DJIA, which has less of an emphasis on tech, lagged the market with a gain of 0.2% to 38,807.33.

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