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Awaiting the Fed and insights on taper
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EU inflation not giving any sign of abating
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COVID-19 angst continues, NZ enters into national lockdown after once case found in country
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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].