Stock markets across Asia gained momentum Thursday following positive developments on Wall Street, driven by robust corporate earnings and encouraging economic indicators from the United States. Major indices in Tokyo, Hong Kong, Seoul, and Taiwan recorded gains exceeding 1%. Despite the broader rally, shares of autonomous driving firms Pony.ai and WeRide declined on their first trading day in Hong Kong. U.S. futures showed minimal movement, while crude oil prices edged higher. On Wednesday, the S&P 500 advanced 0.4%, the Dow Jones Industrial Average rose 0.5%, and the Nasdaq composite climbed 0.6%. A report indicated expansion in employment within the U.S. services sector during October. n nIn Tokyo, the Nikkei 225 increased by 1.5% to 50,959.14. Nissan Motor Co. saw its stock rise 1.3% after announcing the sale of its Yokohama headquarters to generate liquidity, ahead of its scheduled earnings release. South Korea’s Kospi rose 1.2% to 4,054.15, while Taiwan’s Taiex gained 0.7%. Hong Kong’s Hang Seng surged 1.6% to 26,361.40, and the Shanghai Composite climbed 0.9% to 4,004.25. n nHowever, initial public offerings in the autonomous vehicle space faced headwinds. Pony.ai’s shares dropped 13%, and WeRide fell 13.7% on their debut. n nWall Street experienced broad gains on Wednesday, reversing the previous day’s losses. The technology sector played a pivotal role, with high-market-cap firms exerting significant influence. Alphabet, Google’s parent company, jumped 2.4%, Broadcom gained 2%, and Meta Platforms (formerly Facebook) rose 1.4%, helping offset declines in other tech giants like Nvidia and Microsoft. n nThe S&P 500 closed at 6,796.29, the Dow reached 47,311, and the Nasdaq finished at 23,499.80. Investor attention remained focused on corporate results spanning various industries. McDonald’s shares climbed 2.2% after reporting a sales boost tied to the reintroduction of its Snack Wraps in the third quarter. International Flavors & Fragrances surged 4.1% after surpassing quarterly profit expectations. n nOn the downside, Axon Enterprise, known for its Taser devices, dropped 9.4% due to weaker-than-expected profit guidance. Live Nation Entertainment fell 10.6% after missing analyst forecasts. n nWith the U.S. government shutdown halting key federal data releases, corporate earnings have become a critical source of economic insight. Monthly inflation and employment reports have been suspended, leaving investors and the Federal Reserve without complete economic visibility. n nPrivate-sector data offered partial clarity: ADP’s monthly survey showed private-sector job growth exceeded expectations in October. However, the broader labor market continues to show signs of weakening, raising concerns about economic momentum. n nThe Federal Reserve remains cautious. At its latest meeting, it reduced its benchmark interest rate for the second time this year, aiming to support economic activity amid labor market softness. Lower borrowing costs may stimulate growth but also risk fueling inflation, which remains above the Fed’s 2% target. Consumer prices rose 3% in September, and officials including Chair Jerome Powell have expressed hesitation about further rate cuts. n nThe combination of a cooling jobs market and persistent inflation presents a complex challenge for monetary policy. n nTrade tensions also persist. Former President Donald Trump’s past tariffs on China, Canada, and other nations have created uncertainty, complicating business planning and consumer pricing. The U.S. Supreme Court recently heard arguments on the legality of these broad tariff measures. n nEarly Thursday, U.S. benchmark crude rose 26 cents to $59.86 per barrel. Brent crude, the global benchmark, increased 25 cents to $63.77. The U.S. dollar weakened slightly, trading at 153.85 yen compared to 154.11 yen previously, while the euro rose to $1.1510 from $1.1494. n
— News Original —nAsian shares advance after solid earnings and economic reports updates lift Wall StreetBy ELAINE KURTENBACHAP Business WriterThe Associated PressBANGKOKShares have bounced back in Asia after Wall Street got a boost from upbeat economic updates and a steady flow of quarterly reports from U.S. companies. Benchmarks in Tokyo, Hong Kong, Seoul and Taiwan rose more than 1%. Shares in autonomous driving companies Pony.ai and WeRide fell in their debut on the Hong Kong stock exchange. U.S. futures were little changed and oil prices advanced. On Wednesday, the S&P 500 rose 0.4% and the Dow Jones Industrial Average climbed 0.5%. The Nasdaq composite added 0.6%. A report showed that hiring in the U.S. services sector expanded in October. n nBANGKOK (AP) — Shares bounced back Thursday in Asia after Wall Street got a boost from upbeat economic updates and a steady flow of quarterly reports from U.S. companies. n nU.S. futures were little changed and oil prices advanced. n nIn Tokyo, the Nikkei 225 gained 1.5% to 50,959.14. n nShares in Nissan Motor Co. gained 1.3% after the company said it was selling its headquarters building in Yokohama to raise cash. Nissan was due to report its earnings later in the day. n nThe Kospi in South Korea advanced 1.2% to 4,054.15 and Taiwan’s Taiex was up 0.7%. n nHong Kong’s Hang Seng jumped 1.6% to 26,361.40, while the Shanghai Composite index climbed 0.9% to 4,004.25. n nHowever, shares in autonomous driving companies Pony.ai and WeRide fell in their debut on the Hong Kong stock exchange. n nPony.ai was down 13% while WeRide’s shares fell 13.7%. n nOn Wednesday, U.S. stocks gained ground with broad gains, reversing the prior day’s dip. Much of the market’s push and pull came from the technology sector, where several companies with huge values have an outsized influence over the market. n nGoogle’s parent, Alphabet, jumped 2.4%, Broadcom rose 2%, and Facebook parent Meta Platforms rose 1.4%. They helped lead the way higher for the broader market. Their gains also helped counter losses from a few technology behemoths, including Nvidia and Microsoft. n nOverall The S&P 500 rose 0.4% to 6,796.29. The Dow Jones Industrial Average picked up 0.5% to 47,311. The Nasdaq composite rose 0.6% to 23,499.80. n nCompany earnings and forecasts were once again a big focus for Wall Street, with results coming from a broad spectrum of industries. n nMcDonald’s rose 2.2% after reporting that its sales benefited from the return of its popular Snack Wraps in the third quarter. International Flavors & Fragrances jumped 4.1% after beating Wall Street’s latest quarterly profit forecasts. n nOn the losing side, Taser maker Axon Enterprise slumped 9.4% after forecasting weaker profits than analysts were expecting. Live Nation Entertainment fell 10.6% after its latest results fell short of analysts’ forecasts. n nThe latest round of earnings offers Wall Street a source of information on consumers, businesses and the economy that is otherwise lacking amid the government shutdown. Important monthly updates on inflation and employment have ceased, leaving investors, economists and the Federal Reserve without a fuller picture of the economy. n nThere are still several informative private economic updates that Wall Street can review. n nA monthly report from ADP showed that private payrolls rose more than expected in October. The report offers a partial glimpse into the job market, which has been generally weakening and raising broader concerns about economic growth. n nA weaker job market remains a big concern for the Fed. The central bank cut its benchmark rate for the second time this year at its most recent meeting, in part to help bolster the economy amid a weakening job market. Lower interest rates can make a wide range of loans and credit less expensive, potentially promoting economic growth. But, lower rates can also add fuel to inflation, which could stunt economic growth. n nFed Chair Jerome Powell and several other Fed officials have expressed concerns about more rate cuts, as inflation remains stubbornly above the central bank’s target of 2%. Consumer prices rose 3% in September. n nThe mix of a weaker job market and hot inflation leaves the Fed in a tough position. n nThe threat of tariffs also continues to hang over consumers and businesses. President Donald Trump’s trade war with China, Canada and many other nations has been unpredictable, making it hard to measure the full impact of higher prices. The U.S. Supreme Court heard arguments Wednesday about the legality of the sweeping tariffs. n nIn other dealings early Thursday, U.S. benchmark crude gained 26 cents to $59.86 per barrel. Brent crude, the international standard, advanced 25 cents to $63.77 per barrel. n nThe U.S. dollar fell to 153.85 Japanese yen from 154.11 yen. The euro rose to $1.1510 from $1.1494. n n___ n nAP Business Writer Damian J. Troise contributed.