5/6/2021 5:56:04 AM GMT
Asia Market Update: Asia trades mixed; Nikkei outperforms after extended holiday, Shanghai opened flat; Markets pare gain, AUD drops on NDRC headline; China trade data due on Friday.
General trend
- Nasdaq FUTs erased gain during Asia after underperforming during the NY session.
- Nikkei opened higher and has risen by over 2% following 3 day holiday [Topix Iron & Steel index rises over 5% amid earnings speculation related to Nippon Steel; Other outperformers included Automakers, Marine Transports and Banks; Tech related indices lag].
- Various Japanese companies have delayed earnings reactions following holiday [Komatsu, Japan Tobacco and Dai-ichi Life rise; Tokyo Electron declines].