Intel results, Wall Street gains drive Asian stock markets higher

Published November 17, 2014

TOKYO (AP) — Asian stock markets rose sharply Wednesday, powered by better-than-expected earnings from chipmaking giant Intel Corp.

Japan's Nikkei 225 stock average jumped 2.5 percent to 9,776.75 in broad gains.

South Korea's Kospi added 1.2 percent to 1,756.63, and Australia's S&P/ASX 200 rose 1.4 percent to 4,443.500.

In New York Tuesday, the Dow Jones industrial average climbed 1.4 percent to 10,363.02 on investors' hopes for a strong earnings season.

Markets got their latest shot of confidence after the close of trading, when Intel reported earnings and revenue that beat analysts' expectations. It also raised its forecasts for the year.

The news fueled buying in Asia and eased concerns that recovery in the world's biggest economy might be stalling.

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