Asian Markets Mostly Higher Amid Cautious Trade
CANBERA (dpa-AFX) - Asian stock markets are trading mostly higher on Thursday, despite the lack of cues overnight from Wall Street, after the Beige Book revealed that the U.S. economy strengthened from late May to early July, with the pace of growth described as moderate to robust, boosting the prospects of a faster global economic rebound. Asian markets closed mostly lower on Wednesday.
However, the upside is capped as traders remained cautious amid mounting fears over the surge in the fresh wave of COVID-19 infections in several markets in the region and across the world. It is also feared that more countries will likely impose stricter restrictions and lockdown, which will hamper economic activity.
Asian Markets In The Red On Inflation Worries
CANBERA (dpa-AFX) - Asian stock markets are trading in the red on Wednesday, following the broadly negative cues overnight from Wall Street, after data showed U.S. consumer inflation surprisingly accelerated at the fastest pace in thirteen years in June. Traders also remain concerned amid the accelerating infection rates of the highly contagious delta variant of the coronavirus in several parts of the world over the last few weeks. They also await cues from a slew of central bank decisions due this week.
The Australian stock market is slightly higher after treading in the red at open on Wednesday, with the benchmark S&P/ASX 200 above the 7,300 level, ignoring the broadly negative cues overnight from Wall Street, on local data that showed an improvement in consumer confidence. However, traders remain concerned amid the worsening domestic coronavirus situation in New South Wales.
Japanese Market Modestly Lower
TOKYO (dpa-AFX) - The Japanese stock market is modestly lower after opening with a steep loss on Wednesday, paring some of the gains of the previous two sessions, with the benchmark Nikkei index falling below the 28,700 level, following the broadly negative cues overnight from Wall Street. Traders remain concerned amid the recent acceleration in the new wave of coronavirus cases, particularly in Olympic city Tokyo.
The benchmark Nikkei 225 Index is losing 69.92 points or 0.24 percent to 28,648.32, after hitting a low of 28,482.82 earlier. Japanese stocks closed modestly higher on Tuesday.
Market heavyweight SoftBank Group is edging up 0.5 percent, while Uniqlo operator Fast Retailing is edging down 0.3 percent. Among automakers, Honda is edging up 0.2 percent and Toyota is gaining almost 1 percent.
Japanese Market Significantly Higher
TOKYO (dpa-AFX) - The Japanese stock market is significantly higher on Tuesday, extending the sharp gains of the previous session, with the benchmark Nikkei index above the 28,800 level, following the positive cues from Wall Street overnight, as economic optimism tempered coronavirus concerns.
The benchmark Nikkei 225 Index is gaining 233.27 points or 0.82 percent to 28,802.29, after touching a high of 28,852.31 earlier. Japanese shares closed sharply higher on Monday.
Market heavyweight SoftBank Group is gaining more than 1 percent and Uniqlo operator Fast Retailing is adding almost 1 percent. Among automakers, Honda is gaining almost 1 percent and Toyota is edging up 0.3 percent, while Nissan Motor is edging down 0.3 percent.
Asian Markets Mostly Higher
CANBERA (dpa-AFX) - Asian stock markets are trading mostly higher on Tuesday, with most markets also extending the gains of the previous session, following the positive cues from Wall Street overnight, as economic optimism is tempering coronavirus concerns. Traders are keeping an eye on news about the spread of the delta variant of the coronavirus in several parts of the world. Asian stocks ended mostly higher on Monday.
Meanwhile, traders are looking ahead to the inflation data and US Fed Chair Jerome Powell s Congressional testimony for clues about the outlook for the economy. They have also been reluctant to make significant moves ahead of the start of earnings season.