Asian stock markets were on track for a second consecutive week of gains as investor sentiment improved amid signs that the US and China may be stepping back from their trade war.
Technology shares received a boost after Alphabet, Google’s parent company, surpassed profit expectations and reaffirmed its investment plans for AI, sending its stock up nearly 5% in after-hours trading in New York.
The US dollar, which has endured a turbulent few weeks due to shifting tariff policies, steadied at around $1.328 against the pound and $1.133 against the euro.
In Asia, Hong Kong’s Hang Seng Index rose 1%, while mainland China’s Shanghai Composite and the CSI300 both posted modest gains. Japan’s Nikkei jumped 1.8%, recovering all the ground lost since the announcement of the most significant US tariffs in a century.
Meanwhile, Wall Street extended its rally on Thursday. The Dow Jones Industrial Average climbed 1.2% to 40,093.40, the S&P 500 gained 2% to 5,484.77, and the Nasdaq Composite soared 2.7% to 17,166.04.
In the bond market, the yield on 10-year US Treasury notes dipped to 4.325%, down from 4.362% late Wednesday.
