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Shares rallied Thursday across Asia, tracking gains on Wall Street after pressure from the bond market eased and oil prices fell back. The advance was also powered by a stronger-than-expected quarterly report from chipmaker Nvidia, whose profit rocketed more than 200% higher in the February-April quarter from a year earlier, while revenue jumped 85%. Nvidia has been one of the biggest beneficiaries from the boom in artificial intelligence, thanks to powerful demand for its high-end AI chips. Its shares rose 1.3% on Wednesday before its earnings report was released, but they fell 1.3% in afterhours trading after the announcement. South Korea's Kospi soared 8% to 7,787.74, helped by strong buying of technology shares such as Samsung Electronics, which gained 7.5% after its labour union and management reached an agreement late Wednesday that averted a strike. Shares in SK Hynix, a computer chipmaker partnering with Nvidia, surged 11.3%. The Kospi has been breaching records, recently .
Asian shares were mostly lower on Tuesday as the recent rebound fuelled by buying of technology shares lost steam. Markets showed little reaction to the latest step toward ending the US shutdown, after the Senate passed legislation to reopen the government. US futures were little changed and oil prices slipped. Shares have been bouncing on criticism that tech share prices have shot too high due to the mania for artificial intelligence, which some have likened to the 2000 dot-com bubble that ultimately burst. In Tokyo, the Nikkei 225 lost 0.5 per cent to 50,675.92. The US dollar climbed to 154.15 against the Japanese yen, from 154.14 yen, near its highest since February. Expectations that the government will push back its schedule for trimming Japan's huge national debt and boost spending have helped to weaken the yen. The euro inched up to USD 1.1563 from USD 1.1557. Chinese shares also declined. Hong Kong's benchmark Hang Seng index fell 0.2 per cent to 26,595.97 and the Shangh
Asian shares were mostly higher Wednesday as a cautious sense of relief spread through regional markets after the US and China agreed to a 90-day pause in their trade war. Japan's benchmark Nikkei 225 lost 0.8 per cent to 37,874.59. Australia's S&P/ASX 200 shed 0.1 per cent to 8,260.40. South Korea's Kospi surged 1.1 per cent to 2,635.86. Hong Kong's Hang Seng jumped 1.1 per cent to 23,367.57, while the Shanghai Composite gained 0.1 per cent to 3,377.75. The relief over the trade truce between the US and China is tepid among global businesses and investors given uncertainty over how long it might last and where tariffs might go in the months ahead. In the absence of a lasting deal, uncertainty over where tariff rates will settle and the impact of those already implemented will remain key factors in our macroeconomic forecasts, said Brian Coulton, chief economist at Fitch Ratings. A report overnight that showed US inflation unexpectedly slowed last month helped drive buying that .
Asian shares sank Friday after US stocks reversed much of their historic gains from the day before. The deepening worries over President Donald Trump's trade war initially helped pull Japan's Nikkei 225 share index down 5.6%. By mid-morning in Tokyo, it was down 4.7% at 32,969.95. The yen surged against the US dollar, which also lost value against the euro. One dollar bought 143.48 Japanese yen, down from about 146 yen a day earlier. The euro rose to $1.1305 from $1.1195. South Korea's Kospi fell 1.6% to 2,400.34, while in Australia, the S&P/ASX 200 shed 2.1% to 7,552.10. On Thursday, the S&P 500 tumbled 3.5%, slicing into Wednesday's surge of 9.5% following Trump's decision to pause many of his tariffs worldwide. The Dow Jones Industrial Average dropped 1,014 points, or 2.5%, and the Nasdaq composite tumbled 4.3%. But China announced more countermeasures against the United States and losses for US stocks accelerated after the White House clarified that the United States will .
Asian markets retreated Friday after Wall Street shuddered with a level of shock unseen since the COVID-19 impact tore on Trump's latest set of tariffs' damage on the world's economy. Futures for U.S. stocks and the oil prices declined. Tokyo's Nikkei 225 lost 2.6% to 33,818.18, and Korea's Kospi fell 0.8% to 2,467.14 after the two countries pivoted to negotiating lower tariffs with Trump's administration. Australia's S&P/ASX 200 dropped 1.9% to 7,713.60. Chinese markets were closed for a holiday. Trump announced a minimum tariff of 10% on imports, with the tax rate running much higher on products from certain countries like China and those from the European Union. It's plausible the tariffs altogether, which would rival levels unseen in roughly a century, could knock down US economic growth by 2 percentage points this year and raise inflation close to 5%, according to UBS. Such a hit would be so big that it makes one's rational mind regard the possibility of them sticking as low,