Asian shares mostly higher, tracking Wall Street rally
ABC News
Asian shares are mostly higher after another rally to record highs on Wall Street
TOKYO -- Asian shares were mostly higher Tuesday after another rally to a record high on Wall Street.
Stocks have been pushing broadly higher as companies turn in much stronger profit reports for the summer than analysts had expected. Historically low interest rates, along with strong corporate profit growth, have helped the S&P 500 more than double from the bottom it set in March 2020 in the early days of the coronavirus pandemic.
On Monday, the S&P 500 rose 0.5% to 4,566.48, surpassing a record set on Thursday. The Dow Jones Industrial Average also reached an all-time high, gaining 0.2% to 35,741.15. The Nasdaq composite picked up 0.9%, to 15,226.71.
In Tuesday trading, Japan’s benchmark Nikkei 225 added 1.8% to finish at 29,106.01. The advance was helped by a 2.6% jump in electronics and entertainment Sony Corp., which is reporting earnings later this week. Sony, which has video game and movie divisions, has seen sales rise as people opted for stay-home entertainment during the pandemic.
