Stock market today: Asian stocks track Wall Street gains ahead of earnings reports

Release time：2024-05-21 07:19:03 Source：Stellar Signals news portal

HONG KONG (AP) — Asian share benchmarks were mostly higher Tuesday after U.S. stocks clawed back a chunk of their losses from the week before.

U.S. futures were mixed and oil prices rose.

Japan’s benchmark Nikkei 225 rose 0.3% to 37,552.16, despite the country’s manufacturing activity contracting for 11 straight months while approaching the break-even point in April.

A purchasing managers survey showed sentiment at 49.9, on a scale of up to 100 where 50 marks the break between expansion and contraction The yen weakened further, hitting a fresh 34-year low of 154.85 early Tuesday.

The Hang Seng in Hong Kong added 1.6% to 16,771.17 while the Shanghai Composite index slipped 0.8% to 3,019.64.

Australia’s S&P/ASX 200 climbed 0.4% to 7,683.50. South Korea’s Kospi dropped 0.2% to 2,624.73.

On Monday, the S&P 500 gained 0.5% to 5,010.60 to recover more than a quarter of last week’s rout. The Dow Jones Industrial Average added 0.7% to 38,239.98, and the Nasdaq composite jumped 1.1% to 15,451.31.

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