Investing.com – Today marks a positive start for most Asia Pacific markets. Wall Street stocks rallied on Friday after a strong performance on the back of higher tech stocks.
The index was up 0.1%, up 0.8% and up 0.6% at 11:20 a.m. AEDT (12:20:00 GMT).
U.S. stock indexes rose 2.1%, 1.6% and 1.2% on Friday.
Even lower on Thursday. That ended the S&P 500’s longest streak of gains since 2004. The stock market resumed its rally on Friday. That’s because Taiwan Semiconductor Manufacturing (NYSE: ) reported higher October sales. That sent chip stocks higher, however, Federal Reserve Chairman Jerome Powell’s possible interest rate hikes and weak long-term government debt sales put pressure on the market.
Investors seem to be ignoring the results of a preliminary November survey from the University of Michigan. It was released on Friday, revealing that it weakened and rose as some stocks were hit by earnings reports. But the market economy as a whole shows the resilience.
In the commodities market, it rose 1.8% to $81.43 a barrel and fell 0.9% to $1,940.20. The domestic bond market rose slightly. Australian government bonds yield 4.29% and yield 4.62%.
Chinese stocks ended lower in Asia. Insurance and auto shares fell 0.5% to 3,088.97, while the Shenzhen Composite index fell 0.4%. Hong Kong shares also fell 1.8% to close at 17,203.26. The Nikkei Stock Average Japan fell 0.3152%. Further tightening of monetary policy.
European shares also fell following losses in Asia. Both the index and the index fell more than 1%, while the index retreated 0.9% to close 1% at 7382.06, following losses in European shares after Powell’s warning about rising potential interest rates despite these losses but Brent crude Oil rose 1.1% to $80.92 a barrel. As a result, the shares of major crude oil companies increased.
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