NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Global market update: APAC shares mixed, Nvidia's rally powers fresh records

Published 19/06/2024, 11:24 am
© Reuters.
US500
-
DOW
-
NVDA
-
LCO
-
IXIC
-

Investing.com - Shares in the Asia-Pacific region opened mixed on Wednesday, following another record-breaking session for US tech shares, which propelled the Nasdaq and S&P 500 to new heights.

By 11:25 am AEST (1:25 am GMT) the S&P/ASX 200 eased by 0.1%, while South Korea's KOSPI 200 and Japan's Nikkei 225 gained of 0.9% and 0.5%, respectively.

In the US, the broader S&P 500 rose 0.3%, while the NASDAQ Composite finished slightly higher. The Dow Jones Industrial Average saw a modest increase of 0.1%, or 57 points.

⚠️Stay up to date with the latest company news using InvestingPro! CLICK HERE to unlock access to AI-powered ProPicks, ProTips, and more!⚠️

Investors are closely monitoring data about the US economy, which is currently grappling with slowly moderating inflation and still-high interest rates. Fresh reports provided mixed signals on Tuesday, with May retail sales rising less than expected while manufacturing production exceeded expectations.

NVIDIA Corporation (NASDAQ:NVDA) led Tuesday's market with a 3.5% gain, surpassing Microsoft Corporation (NASDAQ:MSFT)as the most valuable listed US company for the first time. The market now values the maker of artificial-intelligence chips at $3.34 trillion.

In commodities, Brent crude oil was up 1.3% to US$84.41 a barrel, while gold was flat at US$2,329.10.

In terms of the bond market, the yield for US Treasury notes fell, with the 2 Year yield at 4.71% and the 10 Year yield at 4.22%.

In China, shares ended higher, led by software-related stocks. The benchmark Shanghai Composite Index rose 0.5% to 3,030.25. Meanwhile, Hong Kong's Hang Seng Index closed 0.1% lower at 17,915.55.

Japan's Nikkei Stock Average closed 1.0% higher at 38,482.11, led by electronics and technology stocks. India's Sensex closed 0.4% higher at 77,301.14, led by bank stocks.

In Europe, stocks in the U.K. ended higher on Tuesday, as the FTSE 100 Index rose 0.6% to 8,191.29. In mainland Europe, shares closed higher, with the STOXX Europe 600 Index up 0.7% to 515.01, Germany's DAX adding 0.4% to 18,131.97, and France's CAC 40 gaining 0.8% to 7,628.80

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.