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International markets roundup

NEW YORK: US stocks advanced on Thursday with each of Wall Street's major indexes ending the session up one per cent or higher, boosted by solid earnings results and a rebound in technology stocks as US bond yields pulled back.

The tech-heavy Nasdaq snapped a five-day losing streak while the S&P technology index booked its first up day in six sessions.

Facebook surged 9.1 per cent after posting an impressive earnings beat, which appeared to calm worries about the autumnout from its use of consumer data.

Amazon.com Inc shares jumped more than six per cent in after-market trading after the online retailer reported a 43 per cent surge in first-quarter revenue.

General Motors Co edged up 0.4 per cent after the automaker reported a production drop of its high-margin pickup trucks, despite posting higher-than-expected profit.

"Earnings continue to be better than expected and you have many of the geopolitical concerns like trade wars put on the back burner temporarily. And the commentary has been good," said Channing Smith, managing principal at Jackson Hole Capital Partners in Tulsa, Oklahoma.

"It's a tug-of-war market where you've concerns about the 10-year (Treasury bond) yield rising and inflation expectations rising and geopolitical concerns and the tariff concerns against the best earnings we've seen in years," said Smith.

The yield on US 10-year Treasuries closed below the three per cent level as buyers emerged following a sell-off fuelled by worries over growing US debt issuance and rising costs.

The Dow Jones Industrial Average rose 238.51 points, or 0.99 per cent, to 24,322.34, the S&P 500 gained 27.54 points, or 1.04 per cent, to 2,666.94 and the Nasdaq Composite added 114.94 points, or 1.64 per cent, to 7,118.68.

LONDON: Britain's FTSE underperformed most European peers on Wednesday, failing to join a global bounce as a missed cash flow forecast from Royal Dutch Shell disappointed investors and weighed heavily on the blue chip index .

The FTSE closed up 0.57 per cent at 7421.43 points, slightly below the 0.94 per cent of the pan-European STOXX 600 boosted by encouraging corporate results and a positive start on Wall Street.

Despite a 42 per cent rise in first-quarter profit on stronger oil prices, shares in Shell, a FTSE heavyweight, fell one per cent as cash flows fell short of investors' strong expectations.

The negative surprise meant the British major did not benefit from a rise in oil prices like its French rival Total , which was up 1.5 per cent and whose earnings beat analysts' expectations.

TOKYO: Asian stocks were supported on Thursday by robust corporate earnings that helped Wall Street quell concerns about the surge in US bond yields. However, sagging Chinese shares limited the upside potential of the market.

South Korea's KOSPI climbed 1.3 percent, with tech shares buoyed by news of a record quarterly profit from Samsung Electronics.

The region's other gainers included Japan's Nikkei, which rose 0.5 percent and Thai and Malaysian stocks.

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.15 percent, as weaker Chinese stocks weighed on the market.

The benchmark Shanghai Composite Index fell 0.9 percent and the blue-chip CSI300 index dropped 1.4 percent as tech shares came under pressure following news that U.S. prosecutors have been investigating if China's Huawei violated U.S. sanctions on Iran.

WELLINGTON: On Thursday, New Zealand's S&P/NZX 50 index fell 0.08 per cent, to 8,282.05.