Asian markets are mostly up against a backdrop of cautious transactions


(RTTNews) – Asian stock markets traded mostly higher on Thursday, ignoring negative signals from Wall Street overnight, as traders continued to be optimistic about the strong economic rebound from the pandemic following rising prices. vaccination rate against Covid-19. The mood in the markets is also subdued amid concerns about rising inflation as traders wait for the release of key US inflation data, due later today, for guidance on the outlook for inflation. the world’s largest economy. Asian markets closed largely lower on Wednesday.

The Australian stock market is slightly higher on Thursday, recouping losses from the previous session, with the benchmark S & P / ASX 200 just below the 7,300 level near all-time highs, ahead of a key reading on US inflation later in the session. Wall Street’s overnight signals were negative. The market is supported by gold mining companies and technology stocks, while materials and energy companies are down.

Meanwhile, traders remain concerned about cases of COVID-19 infection in the country’s second most populous state, Victoria, with four new local cases from the same household reported as the Melbourne area entered on the last day lock. There are also reports of potential spread to New South Wales and Queensland.

The benchmark S & P / ASX 200 is up 19.90 points or 0.27% to 7,290.10, after peaking at 7,307.80 earlier. The larger All Ordinaries index is up 21.30 points or 0.28% to 7,543.30. Australian markets ended slightly lower on Wednesday.

Among the major miners, BHP Group, Rio Tinto, Mineral Resources and OZ Minerals are down nearly 1% each, while Fortescue Metals is down more than 1%. Oil inventories are down after crude oil prices fell slightly overnight. Oil Search is down nearly 2%, while Woodside Petroleum, Beach Energy and Santos are down more than 1% each. Origin Energy is down almost 1%.

Among tech stocks, Appen and WiseTech Global each gain more than 2%, while Afterpay is up nearly 1% and Xero is up almost 2%.

Among the Big Four, Westpac and the National Australia Bank each grew 0.3%, while ANZ Banking fell 0.2%. The Commonwealth Bank is flat.

Among gold miners, Evolution Mining gains nearly 1 percent and Northern Star Resources adds more than 1 percent, while Resolute Mining loses nearly 1 percent. Newcrest Mining and Gold Road Resources are up 0.4% each. Separately, ASIC filed civil lawsuits against shipbuilder Austal and its former managing director David Singleton for alleged breach of continuous disclosure obligations three years ago. The stock is down almost 1%

In the currency market, the Australian dollar is trading at $ 0.773 on Thursday.

The Japanese stock market was slightly higher on Thursday, breaking two consecutive sessions of losses, with the Nikkei 225 benchmark just below the 29,000 mark, ignoring negative signals from Wall Street overnight. However, traders remain concerned after the Japanese government extended the COVID-19 state of emergency to contain the spread of the virus, although daily infection rates have been declining steadily since it peaked in mid -may.

The U.S. Centers for Disease Control and Prevention (CDC) also relaxed travel recommendations for more than 110 countries and territories, including Japan just before the Olympics.

The benchmark Nikkei 225 closed the morning session at 28,982.70, up 121.90 points or 0.42%, after peaking at 29,007.53 earlier. Japanese stocks ended slightly lower on Wednesday.

Market heavyweight SoftBank Group lost 0.5% and operator Uniqlo Fast Retailing fell 0.1%. Among automakers, Toyota and Honda are down 0.2% each, while Mazda is down nearly 2%.

In the tech space, Advantest is gaining more than 1 percent, Screen Holdings is up nearly 2 percent, and Tokyo Electron is adding nearly 3 percent.

In the banking sector, Sumitomo Mitsui Financial is down almost 1%, Mizuho Financial is down more than 1% and Mitsubishi UFJ Financial is down slightly by 0.4%.

The main exporters are mixed. Mitsubishi Electric loses more than 1% and Panasonic is down almost 1%, while Sony adds almost 1% and Canon gains more than 1%.

Among the other big winners, Shionogi & Co. earns over 7 percent, Nippon Yusen KK is up nearly 4 percent and Sumitomo Dainippon Pharma adds more than 3 percent, while Kobe Steel, Toto, Mitsui OSK Lines , Terumo, Amada and M3 are all up almost 3 percent each. Kawasaki Kisen Kaisha, Chugai Pharmaceutical, Isuzu Motors and Daiichi Sankyo are up more than 2% each.

Conversely, Eisai is down nearly 7% and NH Foods is down more than 3%, while Citizen Watch and Nippon Express are down more than 2% each. Konica Minolta Inc. Nippon Suisan Kaisha, Z Holdings, Obayashi, Sekisui House and Taisei are down nearly 2% each. On the economic news side, producer prices in Japan rose 0.7% from May, the Bank of Japan said Thursday. This exceeded expectations of a 0.5% increase and was down from 0.9% in April. On an annual basis, producer prices climbed 4.9%, again beating expectations of 4.5% and up from a revised upward gain of 3.8 the previous month. This is the third consecutive month of producer price inflation and the highest since September 2008.

In the currency market, the US dollar is trading in the mid-range of 109 yen on Thursday.

Elsewhere in Asia, China, Hong Kong, Taiwan, Indonesia, South Korea and Singapore are all 0.4-0.6% higher. Meanwhile, New Zealand and Malaysia are relatively flat.

On Wall Street, stocks closed slightly lower on Wednesday as investors remained largely cautious and refrained from taking meaningful action ahead of the long-awaited inflation data expected on Thursday. Despite continued optimism about the strong economic recovery, market sentiment has been subdued amid concerns over rising inflation and fears that the Federal Reserve may enter into discussions on cutting its program. purchase of assets earlier than expected.

Among the major averages, the Dow Jones ended down 152.68 points or 0.44% at 34,447.14. The S&P 500 closed 7.71 points or 0.18% lower at 4,219.55, while the technology-laden Nasdaq edged down 13.16 points or 0.09% to 13,911.75.

Major European markets closed mixed on Wednesday, with traders remaining largely wary of building positions. The French CAC 40 rose 0.19%, while the UK FTSE 100 ended down 0.2% and the German DAX fell 0.38%.

Crude oil prices edged down Wednesday after data showed an increase in gasoline inventories in the United States last week. West Intermediate crude oil futures for July ended down $ 0.09 or 0.1% at $ 69.96 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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