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Asian stocks mainly benefit from China’s export growth

TOKYO (AP) – Asian stocks were generally higher on Tuesday, hoping for a global economic downturn despite coronavirus outbreaks in many places.

China said in March that its exports had grown by almost 31%, as expected, but weaker than the 60% growth in the first two months of the year.

The increase in trade activity reflects greater demand in foreign markets, even as some countries reintroduce precautions to counter the growing number of new infections.

Ke aponia Nikkei 225 gained 0.7%, finishing at 29751.61 points. South Korea’s Kospi gained 1.1% to 3,169.08. The Australian S & P / ASX 200 fell less than 0.1% to 6976.90. The Hong Kong Hang Seng rose 0.4% to 28,561.26 and the Shanghai Composite rose 0.5% to 3,395.76.

Robert Carnell, ING’s Asia-Pacific Research Officer, expects trading in the region to be preliminary as investors await data to help assess the recovery from the epidemic.

In addition to Chinese trade data, “Asian markets, like others, will be in the tenths until the release of key US inflation data in March,” he said in the report.

As revenue season approaches, corporate outcomes could point to future growth as nations gradually recover from the damage caused by the epidemic.

JPMorgan Chase և Wells Fargo reported on Wednesday, Bank of America and Citigroup on Thursday.

Concerns remain over recent waves of COVID-19 cases, including in the United States, Brazil and Michigan. Earlier this week, Japan Aponia, which is pushing the world back against the spread of vaccines, called for government-sponsored measures to prevent the recent rise of the disease in areas.

Authorities in Thailand have warned of a possible outbreak of a new outbreak in people attending clubs and other entertainment venues.

On Wall Street, the indexes gave up their latest gains as technology, communications and energy stocks weighed on the market.

Bond yields rose after easing most of last week. Investors have focused on both the recovery of the economy and the higher risks of inflation that threaten consumers and companies.

On Monday, it took a three-day winning streak for the S&P 500, which closed last week with its third consecutive weekly gain.

“It’s here and there when the market is trying to figure out how strong the economy will be and how strong it will be,” said Tom Martin, senior portfolio manager at Globalt Investments.

The S&P 500 slipped 0.81 points to 4,127.99. The average industrial index of Do One ounces decreased by 0.2% to 33745.40. Nasdaq technology heavy composite lost 0.4% to 13,850. The S&P 500 և Dow each hit record highs on Friday.

Shares of small companies have also fallen, which have bypassed the wider market this year. The Russell 2000 index of small companies lost 0.4% to 2233.78. This year, the index is growing by 13.1%, and the S&P 500, followed by large companies, is growing by 9.9%.

Technology stocks were the biggest bug in the market. Apple fell 1.3% and Google parent company slipped 1.1%.

The sector is shaky as investors move money to other industries, which can have significant benefits as the economy recovers. The rise in bond yields has also made technology stock values ​​more expensive after months of gains. The yield on the 10-year US Treasury bill, which affects interest rates on mortgages and other loans, reached 1.69% on Tuesday.

Although many economists predict strong economic growth this year, some companies that should benefit from the reopening of the economy were among those that fell on Monday. Carnival և Royal Caribbean’s maritime operators fell 5.3% և 3.1% respectively.

Nuance Communications grew 15.9% after Microsoft announced it would buy the speech technology company for about $ 16 billion.

Shares of Alibaba jumped 9.3% after the Chinese conglomerate said it would restructure its Ant Group financial subsidiary to address regulatory issues in the Chinese government.

At the New York Mercantile Exchange, the American crude oil brand increased $ 60.01 per barrel by 31 cents. On Monday, it gained 38 cents to $ 50.70 per barrel. Brent crude traded up 34 cents at $ 63.62 a barrel on the New York Mercantile Exchange.

The dollar traded at 109.66 Japanese yen against 109.40 yen on Monday. The euro slipped to $ 1.1895 from $ 1.1911.


MS Business Writers Damian J .. Troyes և Alex Weigan contributed.


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