Asian Equities Higher on U.S. Lead

Asian equities followed their U.S. peers higher on early Thursday after Wall Street overlooked disappointing retail sales data to edge up overnight.

U.S. shares ended Wednesday with gains, on the back of surging tech, airline and biotech shares. The Dow Jones Industrial Average climbed 0.6 percent, with Intel leading blue-chip gains. The S&P 500 added 0.7 percent while the tech-heavy Nasdaq bolstered 1 percent.

U.S. retail sales were unexpectedly flat in July, data from the U.S. Commerce Department showed Wednesday, held back by a second straight month of declines in receipts at auto dealers, as well as weak sales of furniture, electronics and appliances. July’s reading was the weakest since January.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.