Asia-Pacific markets rise after Wall Street’s tech-fueled recovery
Asia-Pacific markets experienced a positive trend on Wednesday following a tech-driven recovery on Wall Street and a surge in cryptocurrency prices.
Bitcoin surged over 7% to surpass the $90,000 mark in overnight trading after a significant drop the day before, reaching a current trading price of $91,462.
The Nikkei 225 in Japan rose by 0.76%, while the broader Topix index saw a slight decline of 0.31%.
South Korea’s Kospi index increased by 1.06%, and the Kosdaq, which focuses on small-cap stocks, also rose by 0.29%.
The revised third-quarter GDP figures for South Korea showed a year-on-year growth of 1.8%, up from the initial estimate of 1.7%, according to data released by the central bank.
Australia’s S&P/ASX 200 index gained 0.32% despite the country’s third-quarter GDP data falling short of expectations.
In Hong Kong, markets opened 0.41% lower, while the mainland China CSI 300 index added 0.22%.
U.S. stock futures remained relatively stable during early trading hours in Asia after the previous session’s recovery on major U.S. indexes.
On Wall Street, the Dow Jones Industrial Average gained 0.39%, the S&P 500 climbed 0.25%, and the Nasdaq Composite advanced 0.59%.
—This article includes contributions from CNBC’s Sean Conlon and Pia Singh.
