Wall Street rebound, currency and oil

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SINGAPORE-After Wall Street’s overnight rally, Asia-Pacific stock markets rose in Friday trading, with the S&P 500 index up nearly 2%.

Taiwan’s Taiex soared 2.3%, leading the gains in the region’s main markets, as Taiwan’s semiconductor manufacturing company’s share price rose more than 4.5% after its earnings report the day before.

According to a Reuters report, TSMC announced on Thursday that its net profit for the third quarter ended September 30 was NT$156.3 billion (US$5.57 billion), which was higher than the NT$149 billion expected by analysts compiled by Refinitiv.

In Hong Kong, the Hang Seng Index rose 0.83% in the afternoon. After the Hong Kong stock market was closed for two days, Hong Kong stocks resumed trading on Friday.

Mainland stock markets rose. The Shanghai Composite Index rose 0.29% and the Shenzhen Component Index rose 0.503%.

In Japan, the Nikkei 225 Index rose 1.35%, while the Topix Index rose 1.41%. The Korea Composite Index rose 0.89%.

The Australian stock market rose slightly, with the S&P/ASX 200 Index up 0.76%. After the New South Wales Government announced on Friday that it would remove the quarantine requirements for vaccinated international travelers from November 1, Qantas shares rose about 2%.

The MSCI Asia Pacific’s broadest index outside of Japan rose 1%.

CNBC Pro’s stock selection and investment trends:

Overnight on Wall Street, the Standard & Poor’s 500 Index surged 1.71% to 4,428.26 points, the largest increase since March-as investors were pleased that the earnings reports of major companies such as Bank of America were better than expected.

The Dow Jones Industrial Average rose 534.75 points to 34,912.56, while the Nasdaq Composite Index rose 1.73% to 14,823.43.

Currency and oil

The U.S. dollar index, which tracks the U.S. dollar against a basket of currencies, weakened from above 94.5 earlier this week and is currently at 93.93.

The yen traded at 113.93 against the dollar, still below the level of 112.8 against the dollar earlier this week. After climbing from below US$0.74 yesterday, the Australian dollar traded at US$0.7419 against the US dollar.

Oil prices rose in the afternoon of the Asian trading session, and the international benchmark Brent crude oil futures rose 0.77% to US$84.65 per barrel. US crude oil futures rose 0.7% to US$81.88 per barrel.

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