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Global market update: APAC shares open higher as US momentum continues

Published 20/08/2024, 10:17 am
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Investing.com - APAC markets opened Tuesday's session in the green after US stocks continued their hot streak on Monday.

By 10:20 am AEST (12:30 am GMT) the S&P/ASX 200, KOSPI 200, and Nikkei 225 each gained 0.5%, 1.1% and 1.4%, respectively.

In the US, major indices continued their upward trend on Monday, with the S&P 500 and Nasdaq Composite logging their eighth consecutive day of gains. The Dow Jones Industrial Average added 0.6%, reaching 40,896.53, the S&P 500 rose 1.0% to 5,608.25, and the Nasdaq gained 1.4% to close at 17,876.77.

Among the S&P 500 companies, the top three gainers were EQT Corp (NYSE:EQT), which surged 4.9%, Advanced Micro Devices (NASDAQ:AMD) Inc., which jumped 4.5%, and Darden Restaurants Inc (NYSE:DRI)., which lifted 4.4%. On the downside, HP Inc (NYSE:HPQ). dropped 3.7%, Starbucks Corp (NASDAQ:SBUX) fell 2.7%, and Domino’s Pizza Inc (NYSE:DPZ) lost 2.3%.

In commodity markets, Brent crude oil was down 2.4% to US$77.80 a barrel, while gold remained flat at US$2,503.72.

Chinese shares ended mixed. The benchmark Shanghai Composite Index rose 0.5% to 2,893.67, while the Shenzhen Composite Index dropped 0.1% to 1,547.45. Hong Kong shares ended higher, with the benchmark Hang Seng Index rising 0.8% to 17,569.57.

Japanese shares closed lower, with the Nikkei Stock Average falling 1.8% to 37,388.62. Indian shares ended flat, with the BSE SENSEX finishing at 80,424.68.

Stocks in the UK rose, as the FTSE 100 Index added 0.5% to 8,356.94. In Europe, shares closed higher, with Germany's DAX up 0.5% to 18,421.69, and France's CAC 40 rising 0.7% to 7,502.01.

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