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Asian stocks are mostly rising amid mixed market signs

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TOKYO (AP) – Asian stocks were higher on Tuesday, mainly as investors focused on optimism despite a weak closing on Wall Street.

Japan Aponia benchmark rose 0.2% to 29,432.70 points. Australia’s S & P / ASX 200 losses lost early gains, falling 0.9% to 6,738.40. South Korea’s Kospi rose 3.1 percent to 3,068.75. The Hong Kong Hang Seng gained 1.1% to 28,647.79, and the Shanghai Composite rose 0.5% to 3,451.89.

“Asian markets are flooded,” said Jing Pan, senior market strategist at IG Singapore. He said the markets were “waiting for fresh catalysts to get some direction”.

The basis for market optimism was the reopening of the Suez Canal, one of the world’s most viable waterways, following the release of a clogged cargo ship. It was expected that at least 113 of the more than 420 ships awaiting the release of Ever Given would cross the canal by Tuesday morning Egyptian time.

Complete cleaning of debris with delayed vessels is expected for at least another 10 days.

Shares of Nomura Holdings fell further after falling 16.3% on Monday. But they made up for some of their losses in the morning to end the Tokyo trade by 0.6%.

On Monday, Nomura և the Swiss bank Credit Suisse said that they were suffering significant losses due to transactions with a large client, that the exact amount is not yet clear. Nomura estimates that the lawsuit against its client could amount to about $ 2 billion.

Credit Suisse said there were “a number of other banks” in transactions they made with a US hedge fund that canceled a “margin call” last week. The margin call occurs when the broker tells the client that he is depositing cash after he has taken money to trade. News reports identified the client as Archegos Capital Management in New York.

US banks were downgraded as investors questioned whether the acid deals would be isolated or the effects would be even greater.

Hopes for economic recovery are growing as vaccines spread to parts of Europe, such as the United States, where staff are reported to be effective in preventing serious diseases. Emerging farms were also vaccinated.

The exception was Japan aponia, one of the slowest-moving vaccines in Asia, with less than 1% of its population vaccinated by almost all health care providers. The public may not get the vaccine by the end of the year.

In Japan, aponia անհ elsewhere, there is growing concern that people are reluctant to take social distance measures because they are being vaccinated, leading to further waves of infection.

The S&P 500 slipped 0.1% to 3,971.09 on Monday, recovering most of the 0.8% slide earlier in the day. Banks suffered sharp losses, while technology stocks also fell sharply as China announced more tax breaks to boost its chip segment.

The Dow Jones industrial average rose 0.3% to 33171.37. The technical burden of Nasdaq decreased by 0.6% և to 13.059.65.

The Russell 2000 index of shares of smaller companies fell more than the wider market, falling 2.8% to 21158.68.

Many are betting that a strained economic recovery is on the way, thanks to COVID-19 vaccinations, huge spending by the US government ցածր low rates of the Federal Reserve. But it is worrying about rising inflation և possibly in overly reliable prices.

Fresh economic reports this week can help show whether stocks are worth their high prices. Among the headlines is Friday’s job report, which economists expect to reflect acceleration.

On Wednesday, President Biden will also detail his proposals for rebuilding roads, bridges and other infrastructure. Shares of raw material producers have recently risen in anticipation of spending more on such projects, although many of the administrations of the previous presidency have failed to do so.

Among the winners on Wall Street was Boeing, which grew by 2.3% after Southwest Airlines announced that it would order 100,737 MAX aircraft. Regulators in the United States and other countries have cleaned up the model of the plane to resume flight after it landed worldwide in 2019 after 346 people died.

The loss of American crude oil at the New York Mercantile Exchange reached 231.33 dollars per barrel at 23 cents. It gained 59 cents to $ 61.56. International Brent crude fell 24 cents to $ 64.73 a barrel.

In foreign exchange trading, the US dollar rose to 110.17 Japanese yen from 109.82 yen. The value of the euro was 1.1763 dollars against 1.1766 dollars.

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Beach Business Writers Stan On, Damian Tro. Troy և Alex Weigan contributed.

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