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Asia-Pacific stocks mostly rise following Wall Street surge; Apple supplier shares jump

Soegeefx AppsAsia MarketAsia-Pacific stocks mostly rise following Wall Street surge; Apple supplier shares jump

Key Points

  • Shares in Asia-Pacific mostly rose in Friday morning trade.
  • Markets in Japan are closed on Friday for a holiday.
  • Apple supplier stocks in the region were also monitored by investors after the tech giant warned of a potential $8 billion hit from supply constraints.
  • The tech-heavy Nasdaq Composite soared 3% overnight stateside as major indexes on Wall Street rallied.

SINGAPORE — Shares in Asia-Pacific largely climbed in Friday morning trade following big gains overnight on Wall Street as the Nasdaq Composite surged 3%.

Mainland Chinese stocks were higher in morning trade, with the Shanghai Composite up 0.29% while the Shenzhen Component gained 0.54%.

South Korea’s Kospi gained 0.9% while the S&P/ASX 200 in Australia advanced 0.81%.Iklan

Hong Kong’s Hang Seng index lagged the broader region as it slipped fractionally, with shares of HSBC falling more than 1%.

Markets in Japan are closed on Friday for a holiday. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.7% higher.

Investors watched moves in Asia-Pacific technology stocks after their counterparts on Wall Street rallied overnight. The tech-heavy Nasdaq Composite jumped 3.06% to 12,871.53.

In Friday morning trade, shares of South Korean industry heavyweight Samsung Electronics gained 3.4% while chipmaker SK Hynix climbed nearly 2%. Krafton jumped 3.53%.

Chinese technology stocks were mixed In Hong Kong, with Tencent slipping 0.24% while Alibaba climbed 0.17%. The Hang Seng Tech index traded 0.27% higher.

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Apple supplier stocks in the region were also monitored by investors after the tech giant warned of a potential $8 billion hit from supply constraints.

Shares of South Korea’s LG Display gained 1.22% in Friday morning trade, while AAC Technologies saw its stock in Hong Kong surge 1.87%. Over in Taiwan, shares of Taiwan Semiconductor Manufacturing Company advanced 1.69% while Largan Precision gained 2.07%.

Other major indexes stateside also saw gains overnight, with the S&P 500 rising 2.47% to 4,287.50. The Dow Jones Industrial Average advanced 614.46 points, or 1.85%, to 33,916.39.

TICKER COMPANY NAME PRICE CHANGE %CHANGE
.N225 Nikkei 225 Index *NIKKEI 26847.9 461.27 1.75
.HSI Hang Seng Index *HSI 20186.17 -90 -0.44
.AXJO S&P/ASX 200 *ASX 200 7406.7 49.8 0.68
.SSEC Shanghai *SHANGHAI 2980.67 5.19 0.17
.KS11 KOSPI Index *KOSPI 2683.3 15.81 0.59
.FTFCNBCA CNBC 100 ASIA IDX *CNBC 100 8435.88 26.93 0.32

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 103.388 — largely holding on to gains after crossing the 102 level earlier in the week.

The Japanese yen traded at 130.49 per dollar, continuing to remain weak after crossing the 130 level against the greenback yesterday. The Australian dollar was at $0.7132, still off levels above $0.72 seen earlier this week.

Source : CNBC

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