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Asian markets edge up on a strong lead from Wall Street | Asian markets edge up on a strong lead from Wall Street |
(about 1 hour later) | |
Asian markets edged slightly higher on Friday morning, taking the lead from good overnight results on Wall Street. | |
The Nasdaq closed at a record high while the Dow Jones and the S&P 500 also ended in positive territory. | The Nasdaq closed at a record high while the Dow Jones and the S&P 500 also ended in positive territory. |
Japan's Nikkei 225, Asia's largest stock market, followed suit, rising by 0.2% to 20,650.20 in early trade. | |
But shares in the electronics giant Sharp fell 3% on local media reports that it would report a loss for the April to June quarter. | |
In South Korea, investors were looking ahead to a shareholder vote underway at construction firm Samsung C&T on whether it can go ahead with merger plans with holding company Cheil Industries. | |
The merger had come under fire from US hedge fund Elliott, the third-largest shareholder in Samsung C&T. | |
Shares of Cheil were up by 0.3% while Samsung C&T traded flat. | |
The country's benchmark Kospi index was largely unchanged at 2,087.78 points. | |
In mainland China, stocks were in positive territory in early trading, the Shanghai Composite was up 0.1% to 3,825.12 points. | |
The Hong Kong Hang Seng was up 0.3% at 25,241.74. | |
Traders are closely watching the Chinese indexes to gauge whether regulators' measures to stop the plunge of the past weeks have taken hold. | |
In Australia, the S&P/ASX 200 index bucked the region's trend, falling 0.3% to 5,655.70 points. | |
But Evan Lucas, market strategist with IG, said in a note that he was optimistic about the general outlook for Australian stocks. | But Evan Lucas, market strategist with IG, said in a note that he was optimistic about the general outlook for Australian stocks. |
"China worries have died down and Greece is now a non-issue (until September, anyway). The next month or two may be the first positive months since February." | "China worries have died down and Greece is now a non-issue (until September, anyway). The next month or two may be the first positive months since February." |