Asian Shares Up As Wall Street Rebounds
Asian shares mostly rose Tuesday, Aug. 16. 2022, after a rebound on Wall Street, despite regional investor risks reflected in negative economic data out of China, Yuri Kageyama reported for the Associated Press (AP).
Photo Insert: Stocks on Wall Street bounced back and closed higher, extending the market’s recent winning ways as investors look ahead to several updates from retailers this week.
The benchmark in Tokyo was little changed, erasing earlier gains, but indices in South Korea, Australia, and China gained in morning trading. Falling oil prices are one positive factor for the region.
In Japan, recent economic data have shown a recovery, but high rates of COVID-19 are fueling fears people will hold back on travel and other economic activity. Some analysts say stock prices haven’t properly reflected real risks.
Japan’s benchmark Nikkei 225 was little changed at 28,870.04 in morning trading. South Korea’s Kospi rose 0.5% to 2,540.41. Australia’s S&P/ASX 200 added 0.6% to 7,107.50. Hong Kong’s Hang Seng added 0.4% to 20,118.35, while the Shanghai Composite gained 0.4% to 3,287.50.
Stocks on Wall Street bounced back and closed higher, extending the market’s recent winning ways as investors look ahead to several updates from retailers this week. The S&P 500 rose 16.99 points, or 0.4%, to 4,297.14.
The Dow added 151.39 points, or 0.5%, to 33,912.44. The Nasdaq gained 80.87 points, or 0.6%, to 13,128.05. The Russell 2000 rose 4.73 points, or 0.2%, to 2,021.35.