Business & Investment

Asian Market: Recovery of Asian Market After WallSt Record

Of tokyo Nikkei Led a holiday thin trade rally in Asia on Friday after a record-breaking day on Wall Street Investor It was supported by Joe Biden’s huge new infrastructure spending plan and optimism about the economic recovery.

Business was bright as most stock and commodity markets in the region were closed due to Easter, but major US employment data expected to confirm that the world’s top economies are recovering. The mood remained clearly bright prior to the announcement of.

Confidence that global growth will skyrocket as vaccines open the economy has so far overcome concerns that rebounds will incite inflation and force central banks to rewind monetary policy that pushes the market. ..

“Before we worry about inflation, there is reflation and I think that is the main theme of the market,” said Ed Campbell of QMA.

Biden’s $ 2.25 trillion rebuild package takes place shortly after the $ 1.9 trillion stimulus has passed, strengthening investors’ view that the US economy will be booming, and analysts say the impact on corporate taxes Said he had set aside for now.

With this in mind, after a strong read about US manufacturing in March, the S & P 500 broke the 4,000-point barrier for the first time, but Nasdaq And Dow We also enjoyed healthy benefits.

And then some markets opened in Asia followed, with Tokyo rising more than 1%, Seoul rising almost 1%, and Shanghai in the positive territory along with Bangkok.

“The US stock market began in the second quarter and the sonic boom began on Good Friday,” said Stephen Ines, Axi strategist.

He may have had to raise stocks further, despite increasing infections in parts of the world, including France, where vaccines have been administered worldwide and are facing another blockade. Added that it is expensive.

“Vaccine deployment remains the name of the game, and even if the EU is behind, investors see this delay in the context that catch-up is just a function of time, so it drives the story,” he said. Said.

Currently, the number of non-farm payrolls in the United States is announced later on Friday. This gives us an up-to-date view of the state of the giant economy, with some observers suggesting that measurements could exceed one million.

Asian Market: Recovery of Asian Market After WallSt Record

https://economictimes.indiatimes.com/markets/stocks/news/asian-markets-rally-after-wall-st-record/articleshow/81869033.cms Asian Market: Recovery of Asian Market After WallSt Record

Back to top button