Latest Business News
Asian Shares Mostly Higher After Wall Street Record Rally
Shares rose in Asia following US stocks hitting new records, driven by strong tech profits. Hong Kong’s Hang Seng jumped 1.2% to 26,095.88, South Korea’s Kospi gained 5.1% to 6,936.99 with Samsung up 5.4%, and Taiwan’s Taiex leaped 4.6% led by TSMC's 6.6% surge. Markets in China and Japan closed for holidays .
Wall Street Hits New Records Led by Apple and Tech Giants
US markets closed Friday with Nasdaq at record 25,114.44 up 0.9%, S&P 500 lifted by Apple's 3.3% rally on better-than-expected profits. Dow dipped 0.3% to 49,499.27. Futures show S&P nearly unchanged, Dow down 0.3% .
Oil Prices Rebound Sharply on Strait of Hormuz Developments
US benchmark crude rose $1.80 to $103.73 a barrel; Brent jumped $2.23 to $110.40. Gains follow US effort to guide ships out of the Strait amid Iran war. Iran rejected plan but is reviewing US response to its proposal .
European Markets Mixed as Tech Gains Offset Declines
Germany's DAX edged 0.1% higher to 24,303.77 while France's CAC 40 fell 0.5% to 8,072.91. UK markets closed for holiday. Tech stocks provided big gains post-Wall Street rally .
Australia’s S&P/ASX 200 Slips Amid Regional Mixed Trading
Australia’s S&P/ASX 200 declined 0.4% to 8,697.10 as Asian markets showed mixed results. Trading occurred while China and Japan holidays kept those bourses closed .
Samsung Electronics Shares Surge 5.4% on Tech Rally
South Korea’s Kospi soared 5.1% to 6,936.99 driven by strong tech buying. Samsung Electronics led with a 5.4% gain amid broader chipmaker advances .
TSMC Stock Rockets 6.6%, Boosting Taiwan Taiex 4.6%
Taiwan’s Taiex index leaped 4.6% with market heavyweight TSMC shares up 6.6%. Gains reflect global tech enthusiasm after US rally .
Iran Reviews US Response to War-End Proposal Amid Oil Volatility
Iran rejected US plan to guide ships from Strait of Hormuz but is reviewing Washington’s reply to its latest peace proposal. Development spurred oil rebound; shipping bottleneck hinges on war resolution .
Analysts Watch Iran War Progress for Market Direction
Much hinges on ending Iran war to unlock Strait of Hormuz shipping. Progress could ease oil pressures and boost global trade amid current volatility .
Apple's Strong Profits Propel S&P 500 to New Highs
Apple's better-than-expected profits drove 3.3% share rally, strongest lift for S&P 500 due to its massive market weight. Contributed to Nasdaq record close .