207

Asian shares consolidate following Wall Street gains

On Wednesday, Asian shares consolidated a recent run of revenues, backed by Wall Street's soar overnight, even as crude prices tumbled on trade data demonstrating a surprise build-up in American crude stocks.

Outside Japan, MSCI's broadest index of Asia-Pacific shares decreased 0.1% in early trades. It has edged up more than 14% since late June to reach a 1-year peak the previous week.

Futures prices pointed out that Australian stocks were about to soar on Wednesday, while New Zealand stocks descended after a recent growth.

American housing-related shares leapt 2% after the Commerce Department posted that new American single-family home sales tacked on suddenly in July to almost nine-year peaks.

The Dow Jones industrial average surged 0.1%, trading at 18,547.3. Meanwhile, the S&P 500 acquired 0.2%, trading at 2,186.9, the Nasdaq Composite gained 0.3%, being worth 5,260.08.

The positive housing data helped markets to extend their search for further hints to whether the Federal Reserve will lift American interest rates this year. 

Scroll to top