Asian equities generally climbed following a morning briefing from Chinese officials, which emphasized the government’s commitment to elevating stock prices.
Early trading saw increases in Hong Kong and Shanghai markets, with the Shanghai Composite Index rising by 1.4%. Conversely, the Hang Seng Index in Hong Kong, which is influenced by restricted trading from mainland Chinese investors, initially lost ground, dropping by 0.6%.
In Tokyo, the Nikkei 225 surged 0.8% to reach 39,957.51, bolstered by gains in the technology sector, including shares of SoftBank. SoftBank is making significant investments in Stargate, a joint venture announced by the White House aimed at constructing data centers and the necessary electricity infrastructure to advance artificial intelligence development.
Across the Pacific on Wall Street, the S&P 500 increased by 0.6% to 6,086.37, nearing its record closing high from earlier last month. The Dow Jones Industrial Average edged up 0.3% to 44,156.73, while the Nasdaq Composite advanced 1.3% to 20,009.34.
In the bond market, the yield on the 10-year US Treasury notes rose to 4.60% from 4.57% late Tuesday. Although yields had been declining following positive inflation data last week, they remain significantly higher than September levels, when they were below 3.65%.
