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Asian stocks today: Indices mostly in green following Wall Street’s rally; HSI up 0.6%, Nikkei slips 80 points

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Asian markets traded mostly higher on Friday, tracking Wall Street’s surge to fresh record highs after upbeat economic indicators and a mixed bag of quarterly earnings from major US companies.Hong Kong’s Hang Seng index advanced 0.58% to 24,640, and the Shanghai Composite edged up 0.17% to 3,522.74. Taiwan’s benchmark index soared 1.09% lifted by TSMC’s 2% jump. On Thursday, Taiwan’s TSMC reported a 60.7% surge in net income for the latest quarter, driven by robust demand from artificial intelligence and other sectors. The chip giant’s US-listed stock rose 3.4% following the announcement. Japan’s Nikkei bucked the trend, slipping 0.2% to reaching 39,822. Traders largely remained on the sidelines ahead of Sunday’s upper house election, which could see the ruling coalition lose its majority in the chamber. Domestic data showed that Japan’s core inflation, excluding volatile food and energy prices, rose 3.3% in June compared to a year earlier. Though the pace slowed from May’s 3.7%, it remained well above the Bank of Japan’s 2% target.South Korea’s Kospi slipped 0.3% to 3,180 at 10:50 AM IST. Commenting on the broader market mood, Stephen Innes of SPI Asset Management wrote, “Asia’s riding the global rally wave, AI fever refuses to break, and even the Fed is making soothing noises.” On Wall Street, the S&P 500 closed at a new all-time high, rising 0.5% to 6,297.36. The Dow Jones Industrial Average also climbed 0.5% to 44,484.49, and the Nasdaq Composite jumped 0.7% to 20,885.65, marking another record. Thursday’s session was calmer compared to Wednesday, when markets were shaken by US President Donald Trump’s remarks suggesting he had discussed the “concept” of firing the Federal Reserve Chair, though he added he was unlikely to take that step. While such a move could pave the way for the lower interest rates Wall Street tends to favour, it would also risk undermining the Fed’s independence in managing inflation. In the US, AI-linked stocks continued to perform well. Nvidia shares added 1%, ranking among the top gainers on the S&P 500.

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