A fifth consecutive record close on Wall Street helped fuel further gains for Asian stocks Wednesday, with bullish sentiment boosted by strong results from Apple and benign world economic data.
Traders took heart from the iPhone maker’s stronger-than-expected results for the past quarter as well as accelerating eurozone growth and upbeat Chinese manufacturing figures.
Higher revenues and profits at Apple helped trigger fresh buying in Tokyo as a range of Japanese companies supply components for the California-based company’s smartphone and other devices.
The Nikkei was up 0.4 percent by the break, while Shanghai — which closed Tuesday at a record 2017 high — edged ahead while Hong Kong also gained in morning trade.
Sydney stocks were a rare negative in the region after commodity prices fell.
“Equities… continue to flourish as earning reports drive stocks to new highs,” said Stephen Innes, who heads Asia-Pacific trading at Oanda
“The Dow reached a new-all time high for a fifth consecutive session, nibbling at the key 22k mark.”
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