Asian stocks track Wall Street gains ahead of earnings reports
HONG KONG — Asian benchmarks extended gains Tuesday after U.S. stocks clawed back a chunk of their losses from last week, which was the worst for the S&P 500 in more than a year, while the yen weakened further to fresh 34-year lows.Japan’s benchmark Nikkei 225 edged 0.1% higher to 37,471.73, despite the country’s manufacturing activity contracting for 11 straight months while approaching the break-even point in April as PMI came in at 49.9, according to Tuesday figures from au Jibun bank.
On Monday, the S&P 500 rose 0.9% to 5,010.60 to recover more than a quarter of last week’s rout. The Dow Jones Industrial Average added 0.7% to 38,239.98, and the Nasdaq composite jumped 1.1% to 15,451.31. Bank stocks were also strong following some encouraging profit reports. Truist Financial rallied 3.4% after its profit for the start of the year topped analysts’ expectations.
The difference in growth between the Magnificent Seven and the rest of the S&P 500 should close by the end of the year, strategists Ohsung Kwon and Savita Subramanian said in a BofA Global Research report.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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