Asian Markets Mixed As Traders Eye US Jobs Data

In Asian trade on Tuesday, the stock market was mixed as investors competed for time before releasing key US employment data later in the week.

The Dow and Wall Street S & P 500 provided a positive lead, but there was little opportunity to drive the business, and the Tokyo and mainland China stock exchanges were closed due to vacations.

Still, top executives of the Federal Reserve Board have reiterated the bank’s intention to maintain ultra-loose monetary policy for the foreseeable future, despite predicting that the world’s top economies will grow at the fastest pace since the 1980s. I made a welcome comment.

The Federal Reserve Board’s influential New York branch governor, John Williams, tried to alleviate long-term concerns that the expected surge in economic activity this year would incite inflation and force rate hikes: Said to. .. “

He added that inflation is expected to rise sharply as the virus closed the global economy and the comparison base was low last year, which will soon be mitigated.

The latest snapshot of the economy will come on Friday with the release of job data in April. Some observers suggest that about 1 million positions have been created.

Analysts say the market still has ways to rise, despite the Fed and other central banks implementing very accommodative policies to survive a pandemic that may occur for some time. It was.

“The world is still nearly perfect for equities,” said Chris Iggo of AXA Investment Managers.

Despite strong growth, increased revenue, and a wealth of praise, “no one has taken the punch bowl so far.”

Still, after a year or more of the rally, stocks have maintained record highs or record highs for the first time in years, and feel immediately ready for minor corrections before resuming the upward march.

Hong Kong rose the day after data showed that the financial hub had finally escaped the recession after a seven-quarter contraction triggered by a pandemic and democratic protests in 2019.

Sydney, Seoul, Wellington and Mumbai also rose, but Singapore, Taipei, Manila and Jakarta were in the negative territory.

London reopened after a long weekend and started profitably, but Paris also rose and Frankfurt was flat.

Hong Kong’s economy expanded in the first three months of the year, ending the recession in Hong Kong after seven consecutive quarters of contraction.

Oil prices have fallen slightly after the rebound on Monday, but traders are as early as next month if foreign tourists are fully vaccinated or come from countries where Covid-19 is controlled. We are looking forward to resuming our trip to Europe as we are considering deregulation.

Along with the deployment of jabs across the continent and in the United States, it helped to offset concerns about the horrific coronavirus surge in India that crippled the country’s health care system and led to strict blockade demands.

Hang Seng Index: up 0.6% at 28,516.48

London-FTSE 100: up 0.6% at 7,008.11.

Tokyo-Nikkei 225: Closed due to holidays

Shanghai-Comprehensive: Closed due to holidays

Euro / $: Fall from $ 1.2066 to $ 1.2034 at 2100 GMT

Pound / Dollar: Fall from $ 1.3907 to $ 1.3887

Euro / Pound: Fall from 86.71 pence to 86.65 pence

Dollar / yen: rise of 109.39 yen from 109.07 yen

West Texas Intermediate: $ 64.37 / barrel down 0.2%

Brent Crude: $ 67.45 / barrel down 0.2%

New York-Dow: 0.7% up at 34,113.23 (closing price)

-Bloomberg News contributed to this story-

Asian Markets Mixed As Traders Eye US Jobs Data Source link Asian Markets Mixed As Traders Eye US Jobs Data

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