Asian Shares Mostly Rise, Cheered by Wall St. Rally to More Records

Asian shares mostly rose in early Wednesday trading, tracking record rallies on Wall Street after fresh US labor data boosted expectations of a Federal Reserve rate cut, Yuri Kageyama reported for the Associated Press (AP).

South Korea’s Kospi jumped 1.7% to 3,314.66. (Photo: KRX - Korea Exchange Facebook)

Japan’s benchmark Nikkei 225 gained 0.9% to close at 43,837.67. Australia’s S&P/ASX 200 added 0.3% to 8,830.40. South Korea’s Kospi jumped 1.7% to 3,314.66. Hong Kong’s Hang Seng rose 1.1% to 26,223.30, while the Shanghai Composite edged up 0.2% to 3,814.63.

Uncertainty remains over US-China tariff talks, but Wall Street’s rally lifted sentiment.

The S&P 500 rose 0.3%, surpassing its record high set last week. The Dow Jones Industrial Average climbed 196 points, or 0.4%, while the Nasdaq Composite gained 0.4%, with both also notching records.

Traders are increasingly convinced the Fed will cut its benchmark interest rate for the first time this year at next week’s policy meeting to shore up the labor market.

On Tuesday, the US government said its prior count of nationwide job growth through March may have been overstated by 911,000, or 0.6%.

That was before President Donald Trump jolted markets in April by imposing tariffs on countries worldwide.