Asian shares rose early Monday as bitcoin surged to a record high ahead of President-elect Donald Trump’s inauguration. The price of bitcoin jumped to $109,134, up from $99,563, according to CoinDesk.
European markets also gained ground, with the FTSE 100 in Britain edging 0.1% higher and the CAC 40 in Paris rising 0.2%. Germany’s DAX was nearly unchanged at 20,902.00.
In Asia, Hong Kong’s Hang Seng jumped 1.8%, while Tokyo’s Nikkei 225 index climbed 1.2%. The dollar slipped against the Japanese yen, trading at 156.17 yen, down from 156.31 yen.
The euro rose to $1.0309 from $1.0281. Expectations are building that Japan’s central bank may raise its key interest rate in a monetary policy meeting later this week.
Oil prices fell, with US benchmark crude oil shedding 19 cents to $77.20 per barrel and Brent crude giving up 23 cents to $80.56 per barrel.
The S&P 500 rose 1% on Friday, while the Dow rose 0.8%. The Nasdaq composite rallied 1.5%.
Big Tech companies, including Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla, all rose, driven by a positive report on US inflation, which raised hopes that the Federal Reserve may deliver more interest rate cuts this year.
Source: https://finance.yahoo.com/news/stock-market-today-asian-shares-051952879.html