New York:Major indices in the US and European stock markets experienced gains on October 21, contrasting with declines in the Asia-Pacific region. In the US, the Dow Jones rose by 360.21 points to 52,856.09, while the S&P 500 increased by 44.60 points to 7,757.17. The Nasdaq Composite, heavily influenced by technology companies, rose by 278.04 points to 26,702.86.
According to Azeri-Press news agency, the NYSE Composite and Canada’s S&P/TSX Composite indices also saw increases, with the former rising by 62.50 points to 24,253.12 and the latter by 217.03 points to 36,324.99. In Europe, the Euro Stoxx 50 climbed by 85.86 points to 6,207.52. Other European indices, such as the UK’s FTSE 100 and Germany’s DAX, also rose, contributing to the overall positive trend in the region.
In contrast, the Asia-Pacific region observed mostly negative dynamics, with Japan’s Nikkei 225 and Hong Kong’s Hang Seng indices experiencing significant declines. Despite this, the region’s MSCI AC Asia Pacific index managed a modest increase of 1.03% to 263.43 points.
The divergent market movements were attributed to several factors. In the US, robust quarterly financial results, particularly from companies like SpaceX and Super Micro, bolstered tech stocks. European markets benefited from optimistic corporate profit forecasts, though risks such as high bond yields and political tensions persisted. Meanwhile, in Asia, high financing costs and geopolitical uncertainties dampened investor sentiment, particularly impacting technology stocks in Japan and Hong Kong.