Asian Markets Gain, U.S. Focuses on Consumer Spending

Asian stock markets, excluding Japan, surged today, following a positive close on Wall Street last week, after a period of market volatility. Hong Kongs Hang Seng index rose by 1.3%, boosted by Alibabas AI application demand. South Koreas Kospi also climbed as tech shares stabilized. Investors now focus on U.S. consumer spending, with markets closed on Thursday for Thanksgiving. Last Friday, the S&P 500 and Dow gained, with nearly 90% of stocks advancing. Markets found encouragement from Fed comments, with traders now betting on a December rate cut. U.S. crude oil dipped slightly, while Bitcoin recovered after a brief plunge.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.