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However, trading was tepid and the resurgence of coronavirus in various countries, especially top metal consumer China, sparked concerns of weakening demand.
Since late July, the highly transmissible Delta variant infections have been detected locally in at least a dozen cities, including big ones such as Beijing, Wuhan and Chongqing.
“If this continues, Chinese industrial activity is bound to be affected once again,” said Malcolm Freeman, director at UK broker Kingdom Futures.
“It looks like we will have to endure markets that are behaving like rudderless ships for a while longer.”
FUNDAMENTALS LME aluminum rose 0.4% to $2,595 a tonne, nickel eased 0.1% to $19,375 a tonne, zinc advanced 0.3% to $2,977.50 a tonne, while ShFE zinc shed 1.3% to 22,050 yuan a tonne and ShFE tin lost 1.1% to 229,580 yuan a tonne.
Communist Party paper calls for better online protections for minors Private survey shows faster-growing service sector COVID case surge darkens outlook
SHANGHAI, Aug 4 (Reuters) - A bounce in tech shares helped to lift China’s main stock indexes higher on Wednesday, a day after concerns over tightening oversight of online games wiped nearly $60 billion off the market capitalisation of Chinese tech giant Tencent. At the midday break, the Shanghai Composite index was up 0.56% at 3,467.30. China’s blue-chip CSI300 index was up 0.54%, with the CSI Info Tech index gaining 1.03%. Chinese H-shares listed in Hong Kong rose 1.9% to 9,497.86, while the Hang Seng Index was up 1.57% at 26,605.79. Tencent Holdings Ltd bounced 4.3% higher on Tuesday, even as an opinion article in the ruling Communist Party’s official People’s Daily newspaper said on Wednesday that China should better protect minors from the dangers of the internet. Tencent said on Tuesday it would
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The National Employment Report by payrolls processing firm ADP due later in the day could set the stage for the much anticipated U.S. non-farm payroll numbers on Friday.
The labor market would take time to heal from the effects of the pandemic and more is needed to be done for the economy to get fully back on track, U.S. Federal Reserve Governor Michelle Bowman said on Tuesday. San Francisco Fed President Mary Daly expressed similar views.
The dollar was pinned near recent lows against other currencies.
Dovish remarks last week by Jerome Powell, the chairman of the U.S. central bank, on interest rate hikes being “ways away” had sent gold rising more than 1% while the dollar slipped to a one-month low.
Taiwan July exports set to rise for 13th straight month: Reuters poll Toggle share menu
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Taiwan July exports set to rise for 13th straight month: Reuters poll Taiwan s exports likely rose for a 13th straight month in July, a Reuters poll showed, boosted by strong demand for electronics goods as the global economy traces its path back to recovery with sustained work-from-home trends.
FILE PHOTO: A person walks near containers at Keelung port, northern Taiwan, October 30, 2015. REUTERS/Pichi Chuang/File Photo
04 Aug 2021 03:40PM Share this content
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TAIPEI: Taiwan s exports likely rose for a 13th straight month in July, a Reuters poll showed, boosted by strong demand for electronics goods as the global economy traces its path back to recovery with sustained work-from-home trends.
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The National Employment Report by payroll processor ADP, due later in the day, could set the stage for the much anticipated U.S. non-farm payroll numbers on Friday.
The labor market would take time to heal from the effects of the pandemic, and more is needed to be done for the economy to get fully back on track, Federal Reserve officials said on Tuesday.
The dollar was pinned near recent lows against other currencies.
Dovish remarks last week by Fed Chair Jerome Powell on interest rate hikes being “ways away” had sent gold rising more than 1%, while the dollar slipped to a one-month low.