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Asian stocks rallied on economic optimism after the Wall St rally

TOKYO (AP) – Asian stocks rallied after a Wall Street rally on Tuesday, reflecting some optimism about an economy recovering from the epidemic.

Japan Nikoniai Nikonia 225 lost its early profit, fell 1.3% to 29,696.63. The Australian S & P / ASX 200 rose 0.8% to 6885.90. South Korea’s Cospin increased by 0.2% to 3126.72. Shanghai Composite grew less than 0.1% to 3,486.22. The Hong Kong business was closed for Easter.

Yoshimasa Maruyama, chief market economist at SMBC Nikko, said the gradual recovery of the aponia economy was reflected in a recent “tank” study by the Bank of Aponia published last week. He said there was a return to electronics as households consumed e-products as the epidemic paid for people’s spending on services.

Household expenditure data released on Tuesday showed a 6.6% decline in February, with food, clothing, transportation and entertainment falling sharply.

Deep concerns remain related to the epidemic. Medical experts warn Japan aponia to prepare for the “fourth wave” of growing COVID-19 infections և as the country lags behind the rest of the world in research and vaccinations.

Similar outbreaks have been reported in other countries, including India and Thailand.

The S&P 500 on Wall Street rose 1.4% to 4077.91, another record high. The Dow Jones Industrial Average was up 379 points, or 1.2%, at 33,527.19, and the Nasdaq was up 1.6% at 13,705.59 points.

The gains came after the US government announced that employers hired workers in March, adding 916,000 jobs, the highest level since August.

Traders delayed responding to the Jobs Incentive Report, which was released on Friday as stock trading closed. Investors were further encouraged by a report showing that the services sector saw record growth in March as orders, rent and prices rose.

Both employment and the service sector lagged behind other sectors of the economy during the recovery. Analysts say both need to show signs of growth in order for the recovery process to continue. For many, the widespread use of vaccines in the United States is finally returning to normal, it seems closer.

“The job report highlights progress in the job market,” said Quincy Crosby, Prudential Financial’s chief market officer. “The only thing that can stop this return, this recovery, is that COVID-19 will start another wave.”

Profits were high on Monday, with almost every sector growing. Companies that benefit from wider economic reopening and economic growth have also performed well. Norwegian Cruise Line jumped 7.2% for the biggest profit of the S&P 500, as it seeks permission to resume cruising outside US ports in July, demanding a vaccination of passengers and crew. Competitive carnival grew by 4.8% and Royal Caribbean by 3.5%.

Technology shares also contributed to the profits. Apple grew by 2.1% and Microsoft by 2.5%. Tesla surprised investors with a report that car shipments doubled in the first quarter. Its shares grew by 5.1%.

At the New York Mercantile Exchange, the American crude brand added 80 cents per barrel to $ 59.45 per barrel. It fell from $ 2.80 to $ 58.65 per barrel on Monday. Brent crude rose 77 cents to $ 62.92 a barrel on the New York Mercantile Exchange.

In foreign exchange trading, the US dollar rose by 110.26 Japanese yen from 110.19 yen. The value of the euro was $ 1.1811 against $ 1.1813.


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