After A Broad Rally On Wall Street, Asian Stocks Are Mostly Higher


After a wide gain on Wall Street, stocks in Europe and Asia were generally higher as investors anticipated U.S. jobs and other data expected out Friday.

Concerns about the spread of the new coronavirus type and the efforts countries are taking to contain it continued, but news that its symptoms are moderate and immunizations appear to protect against severe sickness appeared to alleviate them.

The DAX in Germany rose 0.7 percent to 15,361.76. The CAC 40 in Paris rose 0.5 percent to 6,831.75 points, while the FTSE 100 in the United Kingdom rose 0.3 percent to 7,147.30 points.


The Dow industrials futures rose 0.3 percent, while the 500 futures rose 0.1 percent.

Didi Global Inc., a Chinese ride-hailing service, announced Friday that it will delist from the New York Stock Exchange and list in Hong Kong as the ruling Communist Party tightens its grip on the tech sector.

The Securities and Exchange Commission has taken steps to compel that U.S.-listed foreign equities, such as Didi’s, reveal their ownership structures and audit reports, perhaps leading to their delisting.

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In yet another setback for China’s struggling property industry, Hong Kong-listed developer Kaisa Group said that it had failed to obtain the necessary authorization from bondholders to extend the payment date on $400 million in 6.5 percent offshore notes. It wanted the new notes to be due on June 6, 2023, at the same interest rate as the old ones.

The goal was to reduce financial stress, and if the strategy fails, the likelihood of default increases.

In Asian trade, the Hang Seng in Hong Kong fell 0.1 percent to 23,766.69, while the Nikkei 225 in Tokyo climbed 1 percent to 29,029.57, regaining lost territory. The Kospi rose 0.8 percent to 2,968.33 in Seoul. The S&P/ASX 200 index in Sydney rose 0.2 percent to 7,241.20. The Shanghai Composite index increased by 0.9 percent to 3,607.43 points.

Following a $40 billion merger in a special purpose acquisition company transaction, Southeast Asia’s largest ride-hailing business, Grab, slumped 20.5 percent in its market debut Thursday.

On Thursday, the 500 climbed 1.4 percent to 4,577.10, its highest level since mid-October. The Dow Jones Industrial Average rose 1.8 percent to 34,639.79. The Nasdaq rose 0.8 percent to 15,381.32, weighed down by a 0.6 percent loss in Apple after the iPhone manufacturer allegedly warned suppliers that demand is poor ahead of the Christmas season.

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