Asian stock markets were mixed Friday - Market Talk
Tuesday , July 14 2020
Home / Market Talk / Morning Talk / Asian stock markets were mixed Friday
Alice Blue - Market Talk_June 22, 2020

Asian stock markets were mixed Friday

After the closing of Wall Street, there was a mixed trend in Asian stock markets on Friday as concerns about a possible coronavirus infection escalated due to optimism about a possible global economic recovery.

Tokyo and Shanghai advanced while Hong Kong and Seoul retreated.

Global markets have recovered most of this year’s losses as investors look forward to a possible rebound from the deepest economic downturn since the 1930s. But analysts say the gains may be too large and too fast to maintain. The enthusiasm has been overcome by growing transitions in Brazil, some US states, and other regions.

Asian investors would “feel encouraged” by China’s quick response to this week’s coronavirus cases in Beijing, but sentiment remained “toned down” following the surge in US transition, said Stephen Innes of Exitrader Corp in a report.

The Shanghai Composite Index rose 0.4% to 2,951.39, and the Nikkei 225 in Tokyo rose 0.1% to 22,385.10. Hang Seng closed down 0.1% at 24,427.41 in Hong Kong and 0.4% in Seoul’s Cospi at 2,121.51.

The S & P-ASX 200 added 0.8% to 5,986.80 in Australia. New Zealand advanced at the time of the fall of Singapore.

On Thursday, Wall Street’s benchmark S&P 500 rose 0.1% to 3,115.34 after swinging between small gains and losses during the day.

The Dow Jones Industrial Average slipped 0.2% to 26.080.10, and the Nasdaq Composite rose 0.3% to 9,943.05.

Following unexpectedly strong US jobs and retail sales data, worldwide markets expect the world’s largest economy to pull out of its recession as governments ease anti-virus measures.

Economists at Morgan Stanley said in a report, “There has been more widespread improvement in growth trends around the world.” “High-frequency indicators suggest that we are seeing more growth in June than in May.”

However, worries of increased transitions in some US states, Brazil and other regions have dampened investor enthusiasm, prompting consumers and businesses to pull back spending even if the lockout does not resume.

The Sentiment has also received assistance from central banks.

The Bank of England on Thursday increased the size of its bond-buying program to keep interest rates low. The day before, the Federal Reserve said it would keep interest rates close to zero and buy a wide range of bonds to inject money into the financial system.

The S&P 500 has reduced its losses for the year by 8%.

Among energy markets, benchmark US crude on the New York Mercantile Exchange rose 33 cents to $ 39.17 a barrel. The contract settled at $ 38.84 on Thursday. Brent crude, the benchmark for international prices, advanced 29 cents to $ 41.80 a barrel in London. It closed at $ 41.51 per barrel in the previous session.

The dollar peaked at 109.91 yen from Thursday’s 109.85. The euro was little changed at $ 1.1213

Share on

About Dwipen Gogoi

Dwipen Gogoi, MBA (IB and IT) and PGDFT from Pune. (Technical Analyst of AliceBlue) I am a You Tuber, Blogger and doing Technical Analysis last 10 years in Stock, Commodity and Forex Market. i am creating various trading strategies for day traders, swing traders, scalp traders.

Check Also

Alice Blue - Market Talk_July 14, 2020

Shares rose in Asia on Monday

Shares rose in Asia on Monday, buoyed by upbeat projections for a global economic rebound, …

Leave a Reply

Your email address will not be published. Required fields are marked *