Asian Stocks Rise as Wall Street Rally Extends
Major Asian equity markets traded mostly higher on Thursday, mirroring a positive session on Wall Street fueled by strong earnings reports from US corporations.
* Japan's Nikkei 225 gained 0.2% to 38,888.04.
* Australia's S&P/ASX 200 rallied 1.1% to 8,507.60.
* South Korea's Kospi rose 0.7% to 2,526.21.
* Hong Kong's Hang Seng edged up 0.2% to 20,640.73.
* Shanghai's Composite Index advanced 0.6% to 3,248.34.
Wall Street Performance
On Wednesday, the S&P 500 rose 0.4%, the Dow Jones Industrial Average gained 317 points (0.7%), and the Nasdaq Composite climbed 0.2%.
* Toymaker Mattel surged 15.3% on exceeding analyst estimates for quarterly earnings.
* Amgen rallied 6.5% after reporting better-than-expected profit driven by its Repatha medicine.
Chipmaker Slump
Advanced Micro Devices (AMD) declined 6.3% despite posting solid quarterly earnings. Analysts expressed concerns over the absence of detailed guidance for its AI offerings.
Geopolitical Risks
Uncertainty regarding global trade tariffs also impacted markets. President Trump's tariffs on Chinese goods remain in place, while potential tariffs on European autos and other measures are anticipated.
Bond Yields
Bond yields declined in response to a report indicating weaker activity in US service businesses, including mining and finance. The 10-year Treasury yield fell to 4.42%.
Commodities and Currencies
* US crude oil gained 19 cents to $71.22 per barrel.
* Brent crude rose 11 cents to $74.72 per barrel.
* The US dollar weakened to 152.23 Japanese yen.
* The euro declined to $1.0394.