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Asian stocks: Asian stocks cheer on Wall Street, but China rises

Hong Kong: Asian stocks Tuesday is bright, so higher inches Wall street Revenues boosted broader economic outlook, although new concerns about China’s real estate sector struck Hong Kong and the mainland market..

Japanese benchmark Nikkei Tuesday’s average rose 1.14%, while Australia’s S & P / ASX 200 rose 0.2% at 0133 GMT. The gauge of MSCI’s non-Japanese Asia Pacific equities rose 0.23%.

The Hang Seng Index and China’s benchmark CSI300 Index rose, but fell into the negative territory under pressure from real estate stocks.

Most of the S & P 500 companies will report this week on the results that have driven the market recovery this year, including technology tycoons Facebook, Apple Inc, Amazon, Microsoft and Alphabet.

“Of the S & P 500 companies that reported this season, 13% had a net surprise on earnings, so it’s easy to understand optimism that pervades risk appetite, despite inflation concerns,” ANZ Research said. Said in a memo on Tuesday.

“The economy is still very strong, and we expect the recovery to accelerate again once bottlenecks and COVID concerns subside,” said an ANZ analyst. The Dow Jones Industrial Average and the S & P 500 closed at record highs on Monday. Tesla surged 12.66%, surpassing $ 1 trillion in market capitalization, but also provided the biggest boost to the S & P 500 and Nasdaq.

China has announced that it will introduce a pilot real estate tax in some regions, in addition to existing investor concerns about mainland real estate.

The index of Hong Kong-listed mainland real estate companies fell 4%.

“The market is still on a strong trend as the Fed begins to digest its tapering in November,” said Edison Pan, senior market analyst at Saxo Markets.

“But we need to see if the introduction of property taxes will put more pressure on China’s real estate market. If China’s real estate prices fall overall, it will ultimately hurt consumption. There is a possibility. ” Yields on the US Treasury fell as the uncertainty about when the Federal Reserve Board would raise interest rates to curb rising inflation weighed heavily on market sentiment.

The dollar rose 0.1% on Tuesday, recovering from nearly a month of trough hits in the previous session.

Crude oil prices rose on Monday, reaching a high for the first time in years due to tight global supply and increased demand for fuel in the United States and above support prices.

Brent crude oil futures fell 0.03% to $ 85.96 a barrel and West Texas Intermediate (WTI) crude oil futures fell 0.04% to $ 83.72 a barrel on Tuesday morning trading. Spot gold was down 0.21% to $ 1,803. Per ounce.

Asian stocks: Asian stocks cheer on Wall Street, but China rises

https://economictimes.indiatimes.com/markets/stocks/news/asian-stocks-catch-wall-street-cheer-but-china-caps-gains/articleshow/87269178.cms Asian stocks: Asian stocks cheer on Wall Street, but China rises

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