Regional markets mirrored Wall Street's bullish momentum Friday,elon coin news with Taiwan's semiconductor-driven surge and Australia's robust performance offsetting modest declines in Japan and South Korea.
The Nikkei 225 edged down 0.1% to 39,854.28 as political uncertainty loomed ahead of Japan's upper-house election. Market participants remained cautious about potential shifts in the ruling coalition's parliamentary control, despite fresh data showing core inflation (excluding volatile food and energy prices) moderating to 3.3% annually - still notably above the central bank's target.
Taiwan's Taiex emerged as the regional standout, climbing 0.9% as Taiwan Semiconductor Manufacturing Co. (TSMC) soared 2.2%. The chipmaking titan reported staggering 61% annual net income growth for its latest quarter, fueled by insatiable global demand for AI-related semiconductors. This followed a 3.4% overnight gain for TSMC's US-listed shares.
Australia's S&P/ASX 200 outperformed with a 1.5% jump to 8,765.00, while Hong Kong's Hang Seng added 0.7% and Shanghai's Composite rose 0.3%. South Korea's Kospi bucked the trend with a 0.6% retreat.
Wall Street's Record Run
US benchmarks set fresh highs Thursday, with the S&P 500 climbing 0.5% to 6,297.36 and the Nasdaq Composite advancing 0.7% to 20,885.65 - both establishing new records. The Dow Jones Industrial Average gained 0.5% to 44,484.49.
AI-related stocks continued driving the rally, with Nvidia adding 1%. Corporate earnings surprises also boosted sentiment, exemplified by PepsiCo's 7.5% surge after exceeding revenue and profit expectations.
Commodities and Currencies
Oil prices saw modest gains, with US crude rising $0.33 to $66.56 per barrel and Brent crude matching that increase to $69.85. Currency markets showed the dollar steadying around ¥148.67 while the euro strengthened to $1.1623.
The regional advance followed stronger-than-expected US retail sales data and resilient labor market indicators, easing recession concerns despite ongoing inflation pressures that continue influencing central bank policies worldwide.