Asian shares mostly rose following gains on Wall Street, driven by a few influential Big Tech companies.
Japan’s benchmark Nikkei 225 surged in early trading, climbing 2.8% to 36,605.62, though these sharp gains partially reflected earlier significant declines.
A weaker yen benefited some stocks by increasing the value of overseas earnings when converted back to yen. As a result, Toyota saw a 2.8% increase, while Nintendo inched up 1.2%.
In currency markets, the US dollar slipped 0.1% against the British pound, which is currently valued at $1.305.
Nippon Steel shares remained mostly unchanged after a group of Japan’s leading companies sent a letter to US Treasury Secretary Janet Yellen, voicing concerns about potential “political interference” in Nippon Steel’s planned acquisition of US Steel.
Shares of US Steel ended nearly 7% higher the previous day.
Elsewhere, Australia’s S&P/ASX 200 rose 0.7% to 8,041.10. Hong Kong’s Hang Seng climbed 1% to 17,283.46, while the Shanghai Composite was mostly flat at 2,720.40.
On Wall Street, markets rebounded from an earlier sell-off to close higher yesterday. The Dow Jones Industrial Average rose 0.3% to 40,861.71, the S&P 500 gained 1.1% to 5,554.12, and the Nasdaq Composite added 2.2% to 17,395.53.
Yields on benchmark 10-year US Treasury notes inched up to 3.66% from 3.65% late on Tuesday.
