Asian shares may gain after S&P 500 hits record high, with focus on upcoming economic data.

From Yahoo Finance: 2024-06-18 19:19:58

Most Asian equity benchmarks poised to gain on Wednesday as chipmakers boosted US stocks to another record-breaking session on Wall Street. Futures show increases for Tokyo and Hong Kong shares, while Australian equities may open steady. Nvidia Corp. surpasses Microsoft Corp. to become the world’s most valuable company, with a potential value of nearly $5 trillion. Fed officials emphasize the need for more evidence of cooling inflation before lowering rates, while Bank of Japan Governor leaves door open to possible interest rate hike in July. S&P 500 hits 31st all-time high on eve of US holiday. Investors look towards global markets, commodities hold Tuesday’s gains. Key events this week: UK CPI, China loan prime rates, BOE rate decision, US housing starts, Eurozone PMI, US existing home sales. Stocks rise, currencies little changed, cryptocurrencies see small gains, commodities stable.



Read more at Yahoo Finance: Asian Shares to Gain After Another S&P 500 Record: Markets Wrap