Asian Markets Display Mixed Trend
CANBERA (dpa-AFX) - Asian stock markets are trading mixed on Wednesday, following the broadly positive cues overnight from Wall Street, as traders picked up stocks at reduced levels after the recent steep drop, even amid concerns about the recent acceleration in the spread of the highly contagious coronavirus delta variant in several parts of the world. The rising tension between China and the West is also denting sentiment. Asian Markets closed mostly lower on Tuesday.
The Australian stock market is sharply higher on Wednesday, recouping some of the losses of the previous two sessions, with the benchmark S&P/ASX 200 breaking above the 7,300 level, following the broadly positive cues overnight from Wall Street. Traders are optimistic about domestic economic recovery after the minutes of the RBA s July policy meeting showed that the economic recovery in Australia has been stronger than earlier expected and is forecast to continue.
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Japanese Market Significantly Lower
TOKYO (dpa-AFX) - The Japanese stock market is significantly lower on Friday, extending the losses of the previous two sessions, with the benchmark Nikkei 225 just breaking below the 28,000 mark, following the negative cues overnight from Wall Street, as traders are spooked by the spike in the fresh wave of COVID-19 infections. They also await the Bank of Japan s monetary policy decision due later today.
Japan has already declared a fourth state of emergency for Tokyo until August 22 to combat a recent surge in infections ahead of the Olympic Games opening ceremony in the city in a week. The Tokyo metropolitan government reported 1308 new infections on Thursday, the highest figure since mid-January.
Asian Markets Mostly Lower
CANBERA (dpa-AFX) - Asian stock markets are trading mostly lower on Friday, following the negative cues overnight from Wall Street on sinking crude oil prices, renewed Covid-19 concerns and rising tensions between China and the U.S. Traders are also worried about the global economy as some central banks around the world are considering tightening monetary policy much sooner than the US Federal Reserve. Asian markets ended mixed on Thursday.
Australian stock market is slightly lower on Friday, extending the losses in the previous session, with the benchmark S&P/ASX 200 staying above the 7,300 level, following the negative cues overnight from Wall Street, as financial and mining stocks are taking a beating. Traders also remain concerned amid the rapid spread of highly contagious coronavirus variants in New South Wales and now in Victoria, with both greater Sydney and Melbourne under lockdowns.