Asian markets saw a surge on Thursday, with the Nikkei 225 in Tokyo reaching a new all-time high of 42,224.02. Electronics makers led the gains, with Sony Group Corp. jumping 3.6% and Disco Corp. up 3.4%. In Hong Kong, the Hang Seng climbed 2.1% while the Shanghai Composite index surged 1.1%. The Kospi in Seoul advanced 0.8% and Australia’s S&P/ASX 200 rose 0.9%.
Taiwan’s Taiex also saw gains, advancing 1.6% as Taiwan Semiconductor Manufacturing Corp. rose 3.4%. TSMC’s U.S.-listed shares also rose 3.5% after reporting a 33% increase in revenue from the previous year.
In India, the Sensex was down 0.2%, but in the U.S., the stock market continued its rally with the S&P 500 reaching new highs and closing at 5,633.91. The Nasdaq composite and the Dow industrials also gained, driven by big technology companies like Nvidia and Advanced Micro Devices.
Hopes for interest rate cuts by the Federal Reserve have contributed to the market’s optimism, with Fed Chair Jerome Powell signaling a potential rate cut later in the year. The U.S. dollar fell against the Japanese yen and the euro rose slightly.
In the commodities market, U.S. benchmark crude oil gained while Brent crude also saw an increase. Traders are keeping an eye on the latest inflation data, which is expected to show a slight decrease from the previous month.
Overall, markets are buoyed by the promise of future profits from artificial intelligence technology and the potential for interest rate cuts to stimulate economic growth. European shares started the day on a positive note, bouncing back from a decline in most Asian markets. The Nikkei 225 index in Tokyo, however, closed at another record high. This positive momentum comes after Wall Street set new records, with Asian shares also zooming higher. Investors are closely watching market movements as they navigate through the global financial landscape.