Asia-Pacific stocks nudge higher following overnight Dow surge; Alibaba’s cloud division turns profitable
Stocks in Asia-Pacific traded higher Wednesday morning following an overnight surge on Wall Street.
In Japan, the Nikkei 225 rose 0.28% in early trading while the Topix index advanced 0.63%. South Korea’s Kospi gained 0.71%.
Shares in Australia also rose as the S&P/ASX 200 gained about 0.8%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.3% higher.
In corporate news, investors will monitor Hong Kong-listed shares of Alibaba after the Chinese tech giant reported its cloud division was profitable for the first time.
A private survey on China’s services sector activity in January is also set to be released, with the Caixin/Markit services Purchasing Managers’ Index expected around 9:45 a.m. HK/SIN.
Reference: CNBC
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