Stock market today: Japan's Nikkei 225 index logs record close, as markets track rally on Wall St
Asian shares are trading mostly higher after Wall Street benchmarks reached more milestones
TOKYO — Asian shares were mostly higher Tuesday, with Tokyo's benchmark hitting another record, after Wall Street benchmarks reached more milestones.
Japan's benchmark Nikkei 225 jumped 2.0% to finish at a record high 41,580.17. It briefly topped previous intraday trading highs.
Technology-related shares led gains, with computer chip maker Tokyo Electron surging 3.8% and chip testing equipment maker Advantest up 4.1%. Precision tools maker Disco Corp. rose 2.5% and Shin-Etsu Chemical, which supplies silicon for chips, among other materials, was up 2.7%.
Australia's S&P/ASX 200 gained 0.9% to 7,829.70. South Korea's Kospi edged up 0.3% to 2,864.85. Hong Kong's Hang Seng index added 0.3% to 17,577.60, while the Shanghai Composite surged 1.3% to 2,959.74.
“Risk-taking will still likely be more measured ahead of the Federal Reserve Chair’s testimony and the key U.S. inflation release this week,” Yeap Jun Rong, a market analyst at IG, said in a commentary.
On Wall Street, the S&P 500 and Nasdaq composite each notched all-time highs. The S&P 500 rose 0.1% to 5,572.85 and the Nasdaq closed 0.3% higher at 18,403.74. The Dow Jones Industrial Average closed 0.1% lower, at 39,344.79.
Wall Street indexes have been gaining ground steadily over the last several months, and that has helped push the benchmark S&P 500 index to 35 records so far this year.
Gains in tech stocks, including several chipmakers, tempered declines in communication services, energy and other sectors of the S&P 500. Nvidia rose 1.9%, Broadcom added 2.5% and Advanced Micro Devices finished with a 3.9% gain.
Specialty glassware maker Corning surged 12% for the biggest
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