Asian Markets Up As Wall Street Gains

Shares advanced Friday in Asia after news that US consumer inflation slowed last month pushed Wall Street benchmarks higher, Elaine Kurtenbach reported for the Associated Press (AP).

Photo Insert: On Thursday, the S&P 500 rose 0.3% to 3,983.17. The Dow Jones Industrial Average gained 0.6% to 34,189.97. The Nasdaq advanced 0.6% to 11,001.10.

Tokyo’s Nikkei 225 index fell 1% to 26,174.88 on speculation that the Bank of Japan might relent and tighten its ultra-loose monetary policy. Hong Kong’s Hang Seng rose 0.2% to 21,549.42 and the Shanghai Composite index climbed 0.6% to 3,181.09.

The Kospi in Seoul surged 0.7% to 2,382.42, while Australia’s S&P/ASX 200 jumped 0.7% to 7,332.20. Taiwan’s benchmark gained 0.7% while Bangkok’s SET was up 0.2%.

On Thursday, the S&P 500 rose 0.3% to 3,983.17. The Dow Jones Industrial Average gained 0.6% to 34,189.97. The Nasdaq advanced 0.6% to 11,001.10. Small company stocks outpaced the broader market.

The Russell 2000 picked up 1.7%, to 1,876.06. Every major index is on track for weekly gains, Stan Choe and Damian J. Troise also reported for AP.

China reported its trade surplus ballooned to a record $877.6 billion in 2022 as exports rose 7% despite weakening U.S. and European demand and anti-virus controls that temporarily shut down Shanghai and other industrial centers.

The country’s politically sensitive trade surplus expanded by 29.7% from 2021′s record, already the highest ever for any economy.

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