Nikkei 225 lead gains in Asia as regional markets close higher
Asia-Pacific markets traded higher Friday as investors assess U.S.-Iran diplomatic efforts to reach a peace deal in the Middle East.
Japan’s Nikkei 225 ended Friday’s session at 2.68% higher at 63,339.07, while the Topix added 1% at 3,892.46. Japan’s core inflation eased more than expected in April to its lowest level since March 2022, weakening the case for an early rate hike by the Bank of Japan.
Core inflation — which strips out prices of fresh food — came in at 1.4%, lower than the 1.7% expected by economists polled by Reuters and below the 1.8% reading in March.
South Korea’s Kospi rose 0.41% to 7,847.71, while the Kosdaq Index jumped nearly 5% to 1,161.13. Australia’s S&P/ASX 200 was up 0.41% at 8,657.
Hong Kong’s Hang Seng index rose 0.81% in the last hour of afternoon trade, while mainland China’s CSI 300 added 1.3% at 4,845.1.
India’s Nifty 50 gained 0.75%, while the BSE Sensex was 0.8% higher.
— Justina Lee
Lenovo shares jump 15% on record earnings as AI revenue nearly doubles
Shares of Lenovo surged more than 15% on Friday, after the personal computer and electronics giant posted strong revenue growth powered by its growing artificial intelligence business.
Group revenue for the March quarter reached $21.6 billion, up 27% year-on-year — the highest growth rate in five years for the Hong Kong–based Chinese multinational company.
Lenovo aims to become a $100 billion company within the next two years, Chairman and CEO Yuanqing Yang said in a statement, with much of the growth plan hinging on AI.
Read the full story here.
— Dylan Butts
Guzman y Gomez shares surge as much as 20% after fast-food chain says it will exit U.S. market
Shares of Guzman y Gomez rose as much as 20.58% on Friday, after the Mexican-themed fast-food chain said it would exit the U.S. market and refocus on Australia.
“Having spent the last 3 months in the US, I realized this was going to take significantly more time and capital than we had expected, said Steven Marks, founder and co-CEO of the Australian food company.
He added that the current performance of the U.S. business could not justify continued investment of shareholder capital.
Read the full story here.
— Justina Lee
SoftBank Group extends scorching rally with shares in OpenAI, Arm-backer surging over 11%
SoftBank Group shares extended their scorching rally to a second day, rising over 11% Friday, and building on momentum after Nvidia’s blockbuster earnings boosted AI-linked stocks.
The company’s shares had closed 20% higher Thursday, adding over $35 billion to its market cap.
Softbank rally is also being powered by a sharp rise in Arm Holdings, in which the Japanese company holds a majority stake. Arm shares advanced over 16% overnight, after gaining more than 15% in the prior session.
Read the full story here.
— Lee Ying Shan
Asia-Pacific markets open higher as investors assess U.S.-Iran peace deal diplomacy
Asia-Pacific markets traded higher Friday, as investors assess U.S.-Iran diplomatic efforts at reaching a peace deal in the Middle East.
Tehran intending to keep its enriched uranium stockpile within the country, according to a Reuters report, could complicate negotiations with Washington as President Donald Trump has made dismantling Iran’s nuclear program a central objective of his military action against Tehran.
Japan’s Nikkei 225 rose 1.36%, while the Topix added 0.55%. Japan’s core inflation eased more than expected in April to its lowest level since March 2022, weakening the case for an early rate hike by the Bank of Japan.
Core inflation — which strips out prices of fresh food — came in at 1.4%, lower than the 1.7% expected by economists polled by Reuters and below the 1.8% reading in March.
South Korea’s Kospi was up 0.52%, while the Kosdaq Index jumped over 3%. Australia’s S&P/ASX 200 was up 0.5%.
Hong Kong’s Hang Seng index rose 0.66%, while mainland China’s CSI 300 added 0.78%.
—Lee Ying Shan
Thursday’s solid performance
The stock market closed higher in Thursday’s session, and here’s how the major indices performed:
- The Dow posted a fresh record close
- DJ Transports closed more than 17% from 52-week highs.
- The Nasdaq Composite, Nasdaq 100, and Russell 2000 closed more than 1% from 52-week highs.
- The Dow and S&P 500 closed more than 1% from 52 week highs.
- All major indices closed above both their 50-day and 200-day moving averages
- All sectors closed less than 10% off 52-week highs.
— Chris Hayes, Yun Li
Stocks making the biggest moves after the bell
Check out the companies making headlines after the bell:
Estee Lauder Companies – The cosmetics company saw shares jump almost 12%. Estee Lauder and Puig confirmed on Thursday that they have ended talks about a potential merger.
Workday — Workday shares jumped as much as 11% in after-hours trading Thursday after the provider of finance and human-resources software posted stronger-than-expected results and raised its full-year margin outlook.
Zoom Communications — The video conferencing company saw shares jump 7% after investors cheered the firm’s latest results.
Ross Stores — The discount department store’s shares popped almost 7% after a stronger-than-expected quarterly earnings report. The firm also raised its comp sales forecast as well as earnings guidance for the full year.
Take-Two Interactive — The video game holding company’s shares surged 7% after a small revenue beat. The company also said Grand Theft Auto VI is still on track for November launch.
— Yun Li
