Stock market today: Asian shares mostly rise, lifted by bull market on Wall Street
Asian shares are t mostly higher, led by a jump on the Tokyo Stock Exchange where share prices got a boost of optimism from a new bull market on Wall Street
TOKYO (AP) — Asian shares mostly rose Friday, led by a jump on the Tokyo Stock Exchange where share prices got a boost of optimism from a new bull market on Wall Street.
Japan's benchmark Nikkei 225 surged 1.8% to 32,224.68. Australia's S&P/ASX 200 gained 0.4% to 7,126.70. South Korea's Kospi added 1.1% to 2,638.74. Hong Kong's Hang Seng advanced 0.8% to 19,453.11. The Shanghai Composite rose 0.4% to 3,225.07.
On Wall Street, the S&P 500 rose 0.6% to carry it 20% above the bottom it hit in October. That means Wall Street’s main measure of health has climbed out of a painful bear market, which saw it drop 25.4% over roughly nine months.
The arrival of a bull market also doesn’t mean the stock market has made it back to its prior heights. A 25% drop for the S&P 500 requires a 33% rally just to get back to even.
