On June 7, 2024, a cargo ship was sailing to a foreign trade container terminal in Qingdao Port, Qingdao Port, China.
Cost Photo | Noor Photo | Getty Images
Asia-Pacific markets opened mixed on Wednesday after Wall Street’s main stock indexes ended a three-day losing streak.
The Dow Jones Industrial Average rose 0.76% and the S&P 500 rose 1.04%. The Nasdaq, which is dominated by technology stocks, rose 1.03% to close at 16,366.85 points.
A rebound in Japanese stocks on Tuesday boosted sentiment, with the Nikkei 225 posting its best one-day gain since October 2008, surging 10.2%. On Monday, the benchmark index suffered its worst trading day since 1987, falling 12.4% amid fears of a recession.
On Wednesday morning, the Nikkei fell 1%. Meanwhile, Japan’s Topix rose 0.3%.
Later today, Asian traders will assess China’s trade data for July, with economists expecting exports to rise 9.7% year-on-year, compared with 8.6% growth in June. Imports are expected to grow 3.5% over the same period, reversing a 2.3% decline in June.
South Korea’s Kospi rose 1% and the Kosdaq rose 1.3%.
Samsung Electronics After the news that Samsung’s 8-layer HBM3E chip passed the test of the US chip darling, the stock price rose by about 2%. Nvidia for its artificial intelligence processor.
Australia’s S&P/ASX 200 was trading little changed in early trade.
Hongkong Hang Seng Index Index futures were at 16,694 points, higher than the Hang Seng Index’s last closing point of 16,647.34 points.
—CNBC’s Hakyung Kim and Samantha Subin contributed to this report.
