8.5 C
Munich

Asian stocks follow Wall St. on data from strong Japan aponia, Korea

BEIJING (AP) – Asian stocks rose on Wall Street on Thursday after Japan and South Korea announced unexpectedly strong economic data, with President Biden announcing a $ 2.3 trillion US infrastructure spending plan.

Markets in Shanghai, Tokyo, Hong Kong and Sydney have made progress.

A study by Tankan, which looked closely at Ank aponia, found that business conditions had improved more than expected. South Korea reported higher export growth in March. House prices in New Zealand have risen and Australian production has expanded.

“Asia-Pacific has released a lot of data today, including the latest Japan Aponia tank study. Most of them were positive, “said Robert Carnell of ING in the report.

Biden announced that he plans to spend on broadband Internet – clean energy, roads, bridges – public transport. The plan is to reverse the corporate tax cuts made under his predecessor, Donald Trump.

“There has been little market response as investors’ already seem to have set a price for spending and taxes,” Oanda’s Edward Moya said in a report.

The Shanghai Composite Index rose 0.3% to 3451.64 and the Tokyo Nikkei 225 rose 0.7% to $ 29,385.85. Hang Seng added 1% to 28,655.42 in Hong Kong.

The Seoul Cospin was up 0.7% at 3,081.68 and the Sydney S&P-ASX 200 was up 0.6% at 6,828.60.

India’s Sensex opened less than 0.1% at 49,527.39. New Zealand և ak rt fell as Singapore and Bangkok moved forward.

Investors are changing the optimism that coronavirus vaccines will allow businesses to return to normal, worrying about the rise of infections in the United States and some European countries. This has prompted some to turn the curbside.

For the first time since 2019, the Tank Index of the business conditions of major manufacturers in Japan Aponia has risen positively.

“It supports our view that economic recovery will soon be rapidly recovering from the epidemic,” said Tom Lirmuth of Capital Economics.

South Korea reported that in March, export growth accelerated to 16.6%, compared to 9.5% in the same period last year.

The S&P 500 on Wall Street rose 0.4% to 3,972.89 on Wednesday. Dow Jones Industrial Average lost 0.3% to 32,981.55. Nasdaq Composite rose 1.5% to 13,246.87.

Technology shares accounted for most of the recent gains in the S&P 500, although more shares fell than rose in the index. Apple, Microsoft ip chipmaker Nvidia grew, while financial, energy և material resources declined.

The 10-year treasury yield reached 1.74%, which is close to its highest level since the epidemic shook the markets a year ago. Vaccines և government spending plans have raised expectations of possible economic growth հնարավոր possible inflation growth, leading to increased yields.

US crude rose 37 cents to $ 59.53 a barrel on the New York Mercantile Exchange. Wednesday’s contract fell $ 1.39 to $ 59.16. In London, Brent crude, the basis of international oil prices, increased by 34 cents to $ 63.08 per barrel. In the previous session, it lost 60 cents to $ 63.54.

The dollar changed slightly to 110.74 yen. The euro fell to $ 1.1717 from $ 1.1727.

LEAVE A REPLY

Please enter your comment!
Please enter your name here