What's Affecting Markets Today
Nikkei rebounds after Mondays falls
Asia-Pacific markets extended gains on Wednesday, following Wall Street’s recovery from a three-day losing streak. Japanese stocks led the region, with the Nikkei 225 climbing 2.8% and the Topix rising over 4%, driven by a rebound that saw the Nikkei post its strongest day since October 2008, surging 10.2% on Tuesday. Major Japanese trading houses continued their upward momentum, with Marubeni jumping 11% and Softbank Group gaining 8%. Canon Inc. led tech stocks, up more than 12%.
In a speech, Bank of Japan Deputy Governor Uchida Shinichi emphasized the need for continued monetary easing amidst volatile financial markets. The Ministry of Finance revealed record yen-buying interventions on April 29 and May 1, selling $44.19 billion in total.
Elsewhere, Hong Kong’s Hang Seng rose over 1%, and South Korea’s Kospi gained more than 2.5%, with Samsung Electronics up 4.5% after its HBM3E chips cleared Nvidia’s AI processor tests.
ASX Stocks
ASX 200 - 7,713.9 (+0.4%)
Key Highlights:
Leaders
LTM Arcadium Lithium Plc (+7.48%)
TUA Tuas Ltd (+6.07%)
PLS Pilbara Minerals Ltd (+5.89%)
SLX SILEX Systems Ltd (+5.69%)
WA1 WA1 Resources Ltd (+4.57%)
Laggards
QAL Qualitas Ltd (-4.66%)
DRO Droneshield Ltd (-3.66%)
BFL BSP Financial Group Ltd (-3.52%)
SPR Spartan Resources Ltd (-3.10%)
CSC Capstone Copper Corp (-3.06%)
