Wednesday, May 25, 2022

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Asian markets end higher on encouraging corporate earnings

Most key indices at other Asian markets ended higher on encouraging corporate earnings. So China’s Shanghai Composite index and Hong Kong’s Hang Seng index gained 0.9 percent, each; South Korea’s Kospi index jumped 1.3 percent; and Singapore’s Straits Times index rose 1.1 percent. But Japan’s Nikkei-225 index dropped 0.2%.

In Europe, markets rose to record highs as investors focused on upbeat quarterly earnings and a strong rebound in merger activity despite concerns about the global spread of the Delta variant of coronavirus. London’s FTSE-100 had gained 0.4 percent; France’s CAC-40 had climbed 0.5 percent and Germany’s DAX had surged 0.9 percent, in intra-day trade. UK homebuilder Taylor Wimpey Plc climbed 4.0% as it raised its full-year earnings outlook, while German fashion house Hugo Boss rose 1.3% after it forecast a rebound in its business to continue in the second half of the year.

 

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