Tech shares on Wall Street see overnight bounce
SINGAPORE — Shares in Asia-Pacific rose in Friday morning trade following overnight gains for tech stocks stateside as the Nasdaq Composite rebounded.
Japan’s Nikkei 225 gained 0.89% in early trading as shares of conglomerate SoftBank Group jumped more than 1%. The Topix index rose 1.15%. In South Korea, the Kospi climbed 0.61%.
Australian stocks rose in morning trade as the S&P/ASX 200 gained 0.9%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.2% higher.
Investors in Asia will watch for moves in e-commerce stocks such as Alibaba and JD.com following the Singles Day online shopping event.
Overnight stateside, the tech-heavy Nasdaq Composite rose 0.52% to 15,704.28 while the S&P 500 advanced slightly to 4,649.27. The Dow Jones Industrial Average lagged, declining 158.71 points to 35,921.23.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 95.178 following its jump earlier this week from below 94.4.
The Japanese yen traded at 114.05 per dollar, struggling to recover after weakening from below 113.5 against the greenback earlier in the week. The Australian dollar changed hands at $0.729, still off levels above $0.738 seen earlier this week.