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Asian shares mostly gain after big tech rally on Wall Street

By The Associated Press
Posted 12:37AM on Thursday 10th July 2025 ( 6 days ago )

Asian shares mostly gained on Thursday after a rally in U.S. tech stocks lifted the Nasdaq to an all-time high and helped Wall Street claw back most of its losses from earlier in the week.

South Korea’s Kospi climbed 1.6% to 3,183.23 after the Bank of Korea kept its benchmark interest rate unchanged and as semiconductor shares rose following Nvidia’s overnight rally on Wall Street.

Tokyo’s Nikkei 225 fell 0.4 % to 39,646.36, weighed down by selling of export-oriented auto and electronics shares amid the yen’s appreciation, which cuts exporters’ profits.

The Hang Seng in Hong Kong added 0.1% to 23,926.09. The Shanghai Composite index rose 0.5% to 3,511.10. Australia’s S&P/ASX 200 climbed 0.6% to 8,589.20.

On Wall Street on Wednesday, the S&P 500 rose 0.6% for its first gain this week. The benchmark index remains near the record it set last week after a better-than-expected U.S. jobs report.

The Dow Jones Industrial Average added 0.5%. The Nasdaq composite, which is heavily weighted with technology stocks, closed 0.9% higher. The gain was good enough to nudge the index past the record high it set last Thursday.

Nvidia rose 1.8% and became the first public company to exceed $4 trillion in value after its share price briefly topped $164 each in the early going. Shares in the AI boom poster child were going for around $14 per share at the start of 2023.

The tech rally came as Wall Street continued to weigh the latest developments in President Donald Trump’s renewed push this week to use threats of higher tariffs on goods imported into the U.S. in hopes of securing new trade agreements with countries around the globe, with the window for negotiations extended to Aug. 1.

In other dealings on Thursday, benchmark U.S. crude lost 6 cents to $68.32 per barrel. Brent crude, the international standard, shed 5 cents to $70.14 per barrel.

The dollar was trading at 146.13 Japanese yen, down from 146.26 yen. The euro rose to $1.1732 from $1.1723.

A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, July 10, 2025. (AP Photo/Ahn Young-joon)
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won, top right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, July 10, 2025. (AP Photo/Ahn Young-joon)
A currency trader works near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, July 10, 2025. (AP Photo/Ahn Young-joon)

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