Asian stock markets showed mixed results with gains in Japan’s Nikkei Index driven by technology stocks, while other markets in South Korea, Hong Kong, and China also saw positive movements. Nvidia’s rebound helped counteract declines on Wall Street, where the S&P 500 climbed but the Dow Jones fell. Energy sector also saw increases in crude oil prices.
Asian shares displayed mixed results on Wednesday, June 26, 2024, as a significant rebound for Nvidia helped counteract declines on Wall Street. Japan’s Nikkei Index rose by 1.3% to 39,667.07, driven by strong demand for technology stocks. Notable gains included Tokyo Electron at 3.6% and Advantest Corp. at 7%. The dollar appreciated slightly against the Japanese yen, reaching 159.89 yen, leading to warnings from Tokyo officials about potential market interventions if the yen’s decline continues.
In other Asian markets, South Korea’s Kospi gained 0.6% to 2,792.05, and Hong Kong’s Hang Seng edged 0.1% higher to 18,093.37. The Shanghai Composite Index increased by 0.8% to 2,972.93. However, Australia’s S&P/ASX 200 fell by 0.7% to 7,783.00. Taiwan and India saw rises in their stock markets, with gains of 0.5% and 0.7% respectively. Bangkok’s SET Index experienced a modest increase of 0.2%.
In the U.S., the S&P 500 closed at 5,469.30, climbing 0.4%, while the Dow Jones Industrial Average fell 0.8% to 39,112.16. The Nasdaq Composite rose by 1.3% to 17,717.65. Nvidia’s 6.8% jump was pivotal in boosting the S&P 500. Despite this, other tech stocks like SolarEdge Technologies fell sharply by 20.6% due to financial uncertainties. Additionally, consumer confidence showed a slight decline, yet the job market remained relatively stable.
In the energy sector, U.S. crude oil prices increased by 21 cents to $81.04 per barrel, and Brent crude rose by 19 cents to $84.41 per barrel.
