Asian shares experienced mixed trading on Thursday, following a cautious performance on Wall Street where major indices drifted near record highs. The U.S. government shutdown concluded after 43 days with President Donald Trump signing a funding bill, which relieved financial stress for federal workers and resolved airport disruptions. This resolution was seen as positive for markets, as it allowed for the release of delayed federal economic data.
In Asia, Japan's Nikkei 225 index saw an increase of 0.2%, while Hong Kong's Hang Seng index fell by 0.6% and the Shanghai Composite edged up 0.4% ahead of Chinese lending updates. Australia's S&P ASX 200 declined 1% for its third consecutive session, influenced by strong jobs data that indicated falling unemployment and dampened hopes for near-term interest rate cuts. South Korea's Kospi fluctuated, Taiwan's Taiex dropped 0.1%, and India's BSE Sensex shed 0.2%.
On Wednesday, the U.S. market showed a mixed trend, with the S&P 500 adding 0.1% to hover near its record, and the Dow Jones Industrial Average rising 0.7% to a new closing high. The Nasdaq composite, however, slipped 0.3%. A significant driver of market activity was Advanced Micro Devices (AMD), which surged 9% after its CEO projected strong future revenue growth driven by "accelerating AI momentum." However, concerns linger about the valuation of tech stocks, particularly in the AI sector, with some analysts questioning their sustainability. Other companies, like Palantir Technologies, also saw declines.
In other financial news, ... download the app to read more
YoyoFeed ! Follow top global news sources, read AI-powered summaries, ask AI your questions, translate news into your language, and join live chats — all with YoyoFeed!
