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Author Topic: Asian stock markets open positive following Dow Jones  (Read 483 times)

Gigi Hadid mit

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Asian stock markets open in positive territory Following the direction of the Dow Jones Industrial Average, the New York Stock Exchange closed more than 500 points overnight (Oct. 14) on strong earnings of US listed companies. Including major banks, while the S&P 500 index rose nearly 2 percent.

The NIKKEI 225 Japanese stock market opened today at 28,787.26 points, up 236.33 points, or +0.83%, the HSI Hong Kong Stock Exchange opened at 25,187.05 points, an increase of 224.46 points, or +0.90%. The SSE Composite Index opened today at 3,551.99 points. down 6.29 points or -0.18%

Investors responded positively after major US banks posted strong results. This includes Morgan Stanley and Bank of America, the second largest US bank by asset value.

Bank of America, the second-largest bank in the United States, said it reported revenue of $28.7 billion in the third quarter, beating analysts' estimates of $218 billion.

On the Morgan side Stanley revealed that The bank reported revenue of $147 billion in the third quarter, beating analyst expectations of $140 billion. This was supported by investment banking and wealth management businesses.

The market also gained momentum after the Labor Department said first-time claims for unemployment benefits fell 36,000 to 293,000 last week. The number is below 300,000 for the first time since March 2020. It was at the start of the COVID-19 outbreak in the United States and was below analysts' estimates of 318,000.



 

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