Stock market today: Asian shares climb, tracking advance on Wall Street in final week of 2023
Asian shares have advanced, tracking gains on Wall Street after markets there reopened following Monday's holiday
Asian shares advanced on Wednesday, tracking Wall Street gains as markets there reopened for what’s expected to be a quiet, holiday-shortened week of trading.
U.S. futures were higher and oil prices were steady.
Tokyo’s Nikkei 225 index added 1.2% to 33,681.24 as details of a policy meeting by the Bank of Japan showed officials divided about the timing and need to shift away from the central bank’s longstanding lax monetary policy.
Hong Kong’s Hang Seng index rose 1.9% to 16,661.00 and the Shanghai Composite gained 0.6% to 2,915.05 with Chinese video gaming companies, including Tencent and NetEase, recouping losses in the first Hong Kong trading session after the government attempted to alleviate market fears about draft guidelines to impose controls over how companies earn money from games. However, the gains were dwarfed by the losses from a broad sell-off on Friday.
NetEase's Hong Kong-traded shares gained 10.4%, after its Nasdaq-listed stock added 5.2% on Tuesday. Tencent's were up 5.9% in Hong Kong and Bilibili added 7.5%.
The Kospi in Seoul was up 0.4% to 2,613.50. In Sydney, the S&P/ASX 200 was 0.8% higher at 7,561.20.
Bangkok’s SET dropped less than 0.1% and the Sensex in Mumbai climbed 0.7%.
Tuesday on Wall Street, the S&P 500 rose 0.4% to 4,774.75, finishing less than 0.5% below its all-time high set nearly two years ago. The benchmark index is coming off eight straight weekly gains, its longest winning streak since 2017.
The Dow Jones Industrial Average rose 0.4% to 37,545.33, while the Nasdaq composite ended 0.5% higher to 15,074.57.
Trading was relatively light as U.S. markets reopened
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