Asian Stocks Track U.S. Rally As Tech Shares Rise

Asian equities advanced after a rally in the world’s largest tech stocks lifted global shares to new highs ahead of US inflation data due later Thursday, Richard Henderson reported for Bloomberg News.

Equities in Japan, Australia, and China rose, reflecting the bullish sentiment on Wall Street.

Equities in Japan, Australia, and China rose, reflecting the bullish sentiment on Wall Street on Wednesday. The S&P 500 and Nasdaq 100 each gained more than 1%, and a global equities gauge also rose to record levels, spurred by companies like Nvidia Corp. and Apple Inc.

The S&P 500 has advanced for seven consecutive sessions, its longest winning streak since November.

Taiwan Semiconductor Manufacturing Co. (TSMC) traded at record levels after reporting its fastest pace of second-quarter sales growth since 2022. Apple aims to ship 10% more new devices after a challenging 2023.

In Asia, Sony Group Corp. and SK Hynix Inc. were among the top contributors to gains in the regional stock index.

“Markets remain remarkably calm despite the flood of data this week, including Fed Chair Powell’s testimony, CPI/PPI reports, and the beginning of earnings season,” said Mark Hackett at Nationwide.