Asian stock markets followed Wall Street higher on Thursday following gains for major U.S. tech stocks.
U.S. stocks have recovered most of this year's losses, helping to push up global prices, despite rising numbers of American coronavirus infections that threaten to derail economic improvement. Investors are buying technology and other companies they expect to emerge stronger from the global downturn.On Wednesday, Wall Street turned in its sixth gain in seven days when the benchmark S&P 500 index closed up 0.8%. Amazon, Apple and Microsoft accounted for half that rise.
The Shanghai Composite Index rose 1.5% to 3,451.93 and the Nikkei 225 in Tokyo added 0.7% to 22,587.64. The Kospi in Seoul was 0.7% higher at 2,173.66 and Sydney's S&P-ASX 200 advanced 0.9% to 5,974.40. New Zealand, Singapore and Bangkok retreated while Jakarta rose. Optimism is rising about a reopening U.S. economy, but virus case numbers are rising across much of the South and West. Some state governments have reversed plans to allow restaurants and other businesses to reopen.Major companies are due to report quarterly results next week. They are expected to be dismal.
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