Asia-Pacific markets jump as U.S. stocks rally; investors await Australian jobs data
Asia-Pacific markets jumped in early trade on Thursday, following a surge in the U.S. markets overnight as tech stocks rallied.
Japan’s Nikkei 225 bounced 1.58%, while the Topix was also up 1.09%. Auto and tech stocks jumped in early trading. Softbank was up 2.87%, while Sony rose 2.84%.
South Korea’s Kospi rose 0.83%. In Australia the S&P/ASX 200 was up 0.18%.
Meanwhile, Australia’s jobs data is expected to be released at 9:30 a.m. HK/SIN. It comes as coronavirus cases surged again in recent weeks in Victoria state. Authorities had to impose a night curfew and tighten restrictions again last week in Melbourne, Australia’s second-largest city, according to Reuters.
In earnings news, Chinese tech giant Tencent reported quarterly earnings after markets close on Wednesday. Gaming boosted overall revenue in the second quarter, while Tencent saw some weakness in its advertising business. Overall, its profit attributable to equity holders of the company was 33.1 billion yuan ($4.76 billion) compared to 27.56 billion yuan expected. That’s a 37% year-on-year rise.
On Wall Street, stocks jumped as traders stateside seemed to shrug off uncertainty over a second coronavirus stimulus bill, even as House Speaker Nancy Pelosi on Wednesday said both sides were still “miles apart” on relief negotiations.
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