Скачать или смотреть Asia Higher Following A Positive Close On Wall Street While D-Street Likely To Witness Muted Start

Asian stock markets are mostly trading higher on Friday following a tech rally from Wall Street overnight. Japan’s Nikkei is trading higher by 0.68 percent as Tokyo’s headline inflation rose at a slower pace in May as compared to April. The Shanghai index is trading lower by 0.39 percent while Kospi is trading higher by 0.10 percent at 7.10 am IST. Hang Seng is not trading today due to a holiday.

The US stock market indexes mostly closed higher on Thursday due to a rally in tech stocks. S&P 500 and Nasdaq ended higher by 0.88 percent and 1.71 percent respectively as the share price of Nvidia surged 25 percent after reporting solid quarterly earnings. While Dow closed marginally lower by 0.11 percent due to a slump in Energy stocks and chipmaker intel.

The traditional chipmaker Intel failed to join the rally and declined by around 5 percent on Thursday. The Energy stocks were down as oil prices fell sharply after the news of no OPEC+ production cut.

On the economic, front, the better-than-expected GDP growth rate in the first quarter and fewer-than-expected weekly jobless claims pointed to a stronger economy and somewhat dented the expectation of a pause in interest rate hikes

Indian stock markets pared intraday losses and closed slightly higher on Thursday amid volatility. The market sentiments were subdued due to weak global cues, as investors fear the repercussion of a US default if the debt ceiling negotiation talks fail. The volatility in the markets was also due to the monthly F&O expiry.

The market breadth was slightly on the positive side with the advance decline indicating a ratio of 4:3 at the close. FIIs and DIIs were the net buyers in the Indian equity markets. FIIs bought shares worth Rs 589.10 crore while DIIs purchased Rs 338.44 crore on Thursday.

Meanwhile, SGX Nifty is trading lower by 56 points or 0.30 percent at 18410 levels. The indication getting from the Asian market is positive. Indian stock market indexes are likely to open higher and will trade above their flatlines today.

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