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Author: Don Obrien

Wall Street rally, currencies and oil


SINGAPORE — Shares in Asia-Pacific rose in Friday morning trade following overnight gains on Wall Street with the S&P 500 jumping nearly 2%.

In Hong Kong, the Hang Seng index was hovering near the flatline in morning trade. Hong Kong stocks returned to trade on Friday after stock markets in the city were closed for two days.

Mainland Chinese stocks advanced slightly, with the Shanghai composite up around 0.11% while the Shenzhen component gained around 0.23%.

In Japan, the Nikkei 225 climbed more than 1% while the Topix index advanced 1.11%. South Korea’s Kospi gained 0.6%. The Taiex in Taiwan surged 1.45%, with shares of Taiwan Semiconductor Manufacturing Company rising more than 3% following its Thursday earnings release.

Australian stocks edged higher as the S&P/ASX 200 rose 0.57%. Shares of Qantas Airways jumped around 2% after the New South Wales government announced Friday that quarantine requirements will be scrapped for fully vaccinated international travelers from Nov. 1.

MSCI’s broadest index of Asia-Pacific stocks outside Japan traded 0.65% higher.

Stock picks and investing trends from CNBC Pro:

Overnight on Wall Street, the S&P 500 surged 1.71% to 4,428.26 — its biggest jump since March — as investors cheered better-than-expected earnings reports from major firms such as Bank of America.

The Dow Jones Industrial Average gained 534.75 points to 34,912.56 while the Nasdaq Composite advanced 1.73% to 14,823.43.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.991 having weakened earlier this week from above 94.5.

The Japanese yen traded at 113.84 per dollar, still weaker than levels below 112.8 seen against the greenback earlier this week. The Australian dollar changed hands at $0.7422 following its climb from below $0.74 yesterday.

Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.48% to $84.40 per barrel. U.S. crude futures gained 0.43% to $81.66 per barrel.



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