Asian markets follows Wall Street jump
December 27, 2018 | Investopaper
Breaking the latest bearish trend of the market, both S&P 500 and DJIA posted a huge gain this Wednesday. DJIA jumped by 4.98% to record its largest single-day point gain in history while S&P 500 also rocketed by 4.96%. Similarly, Nasdaq Composite also soared by 5.84%. This was the biggest after-Christmas jump for U.S. stocks in its history.
Influenced by this rise in Wall Street, Asian markets also rose on Thursday. Japan’s Nikkei 225 increased by 4.03%. But the shares of Japan Display, which supplies the LCD panels used in iPhone XR, profited the most from the news that iphoneXR comprised 32% of Apple iPhone sales in the U.S. in 30 days of its release.
Australian share market also rose around by 1.79%. Similarly, Hongkong Hang Seng Index, South Korea’s Kospi also increased by 0.62% and 0.23% respectively.
Beijing’s trade war with Washington has been affecting the Chinese market in recent times. The Shanghai Composite also gained 0.56% whereas Shenzhen Composite increased by 0.545 percent.
