Asian stocks followed Wall Street higher ahead of speech by the Federal Reserve chair that investors hoped will shed light interest-rate hiking plans.
BEIJING — Asian stock markets followed Wall Street higher on Friday ahead of a speech by the Federal Reserve chair that investors hoped would shed light on plans for more interest rate hikes.Investors focused on Chair Jerome Powell’s speech at the Fed’s annual Jackson Hole... BEIJING — Asian stock markets followed Wall Street higher on Friday ahead of a speech by the Federal Reserve chair that investors hoped would shed light on plans for more interest rate hikes.
The Shanghai Composite Index SHCOMP slipped 0.1% to 3,242.44 and the Nikkei 225 NIK in Tokyo jumped 0.5% to 28,635.16. The Hang Seng HSI in Hong Kong gained 0.4% to 20,067.40.New Zealand and Southeast Asian markets also rose. The Dow Jones Industrial Average DJIA rose 1% to 33,291.78. The Nasdaq composite climbed 1.7% to 12,639.27.Also Thursday, the government reported the U.S. economy didn’t contract by as much as previously thought during the spring. It shrank 0.6% on an annualized basis, the government said, less than the previous 0.9% estimate.
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