Asian shares tracked Wall Street’s upward momentum, reflecting optimism about the potential for an economic recovery. The Tokyo benchmark advanced 1.8% following a national holiday, while the Shanghai Composite index gained 0.8%. Investors are closely monitoring U.S. debt ceiling talks, as the deadline to raise the borrowing limit approaches. Failure to reach an agreement could lead to a market-destabilizing U.S. default. However, expectations of a resolution have buoyed sentiment. In China, trade data for April showed exports rebounded to a 14-month high, easing concerns about global demand. The positive economic indicators have fueled hopes for a sustained rebound, driving gains across Asian markets. Investors remain cautiously optimistic, weighing potential risks against signs of resilience in major economies.
Source: https://abcnews.go.com/Business/wireStory/stock-market-today-asian-shares-follow-wall-st-108301482