Asian Markets Mostly Higher
CANBERA (dpa-AFX) - Asian stock markets are mostly higher on Monday amid thin holiday trade across the Asian region, following broadly positive cues from Wall Street on Thursday on upbeat jobs and manufacturing data. Traders are also upbeat about a stimulus-fuelled global economic recovery after US President Joe Biden s speech regarding his $2 trillion infrastructure and economic recovery plan.
However, worries about rising coronavirus cases and extension of lockdown restrictions are limiting market gains. Asian markets closed mostly higher on Friday.
The Australian stock market is closed on Monday on account of Easter Monday. Australian stocks closed modestly higher on Thursday ahead of the Easter weekend. In the currency market, the Aussie dollar is trading at $0.762 on Monday.
Japanese Market Extending Gains
TOKYO (dpa-AFX) - Japanese stock market is higher on Monday, extending gains of the previous two sessions, with the Nikkei 225 breaking above the 30,000 level to three-week highs. The cues from Wall Street on Thursday were broadly positive on upbeat jobs and manufacturing data.
The benchmark Nikkei 225 Index is gaining 245.98 points or 0.82 percent to 30,099.98, after touching a high of 30,195.00 earlier. Japanese shares ended sharply higher on Friday.
Market heavyweight SoftBank Group is up more than 1 percent and Uniqlo operator Fast Retailing is adding almost 3 percent. Among automakers, Honda is gaining almost 1 percent, while Toyota is flat.
The major exporters are also higher. Panasonic is edging down 0.4 percent, while Mitsubishi Electric is edging up 0.1 percent. Sony and Canon are edging up 0.4 percent each.
NEW DELHI (dpa-AFX) - Asian stocks were mixed in thin holiday trade on Monday as traders reacted to rising Covid-19 cases around the world, signs of firm U.S. growth and rising bond yields. The
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TOKYO Japanese shares rallied on Friday, on hopes of earnings recovery and gains in semiconductor-related shares as they look to raise their outputs to deal with a global shortage of chips.
The Nikkei share average rose 1.13% to 29,720.62, reaching its highest level in two weeks. The broader Topix added 0.57% to 1,968.76.
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“We are entering a phase where the stock market rallies even as interest rates rise because of strong earnings growth. This stage will eventually lead to an overheated market but we are not there yet,” said Masayuki Kubota, chief strategist at Rakuten Securities.
Synopsis
The Nikkei share average rose 1.13% to 29,720.62, reaching its highest level in two weeks. The broader Topix added 0.57% to 1,968.76.
Agencies
TOKYO: Japanese shares rallied on Friday, on hopes of earnings recovery and gains in semiconductor-related shares as they look to raise their outputs to deal with a global shortage of chips.
The Nikkei share average rose 1.13% to 29,720.62, reaching its highest level in two weeks. The broader Topix added 0.57% to 1,968.76.
“We are entering a phase where the stock market rallies even as interest rates rise because of strong earnings growth. This stage will eventually lead to an overheated market but we are not there yet,” said Masayuki Kubota, chief strategist at Rakuten Securities.