Business & Investment

Asian stocks: Asian stocks hit record highs, oil is strong

Sydney: Asian stocks Oil has more than a year as it hit record highs on Monday and the successful global rollout of the coronavirus vaccine raised expectations for a rapid economic recovery amid new financial support from Washington. It has reached its peak.

MSCI’s widest non-Japanese Asia Pacific equities index rose 0.4% to 736.4.

Japan’s Nikkei Stock Average rose 1.3%, despite data showing that recovery from the worst post-war recession slowed in the fourth quarter.

Australia’s Benchmark Index has risen 1%.

S & P 500 E-mini futures rose 0.2% in early Asian trading. The US stock market will close on Monday due to President’s Birthday holidays.

This week’s highlight is probably the minutes of the January meeting of the Federal Reserve Board, where policy makers decided not to change interest rates.

Inflation data comes from the UK, Canada and Japan, with major economies including the US releasing the February Provisional Buyers Index on Friday (PMI).

Economists expect inflation to remain moderate for some time, but the so-called “refre trade” has recently gained momentum, primarily due to the desire for coronavirus vaccines and huge fiscal spending under US President Joe Biden. There is.

Biden pushed ahead with the first major legislative achievements of his term and turned to a bipartisan group of local civil servants for the help of his $ 1.9 trillion coronavirus rescue program.

Estee Dweck, Head of Global Market Strategy at Natixis Investment Managers Solutions, said: ..

“Although credit spreads have already narrowed sharply, there is still room to absorb some high yields and we are more accustomed to credit risk than interest rate risk,” Dweck added.

“Commodities will benefit from the inflation cycle, but as the economy resumes and demand recovers, it can continue to recover without high core inflation,” he said.

Oil price It has risen to its highest level since January 2020, hoping that US stimulus will boost the economy and fuel demand.

Brent crude rose 61 cents to $ 63.04 a barrel. US crude oil rose 83 cents to $ 60.03.

On Friday, with S & P500 Nasdaq It was a record high.The· Dow The S & P 500 rose 0.5% to 3,934.83 and the Nasdaq rose 0.5% to 14,095.47.

Actions in currency have been muted.

The dollar was slightly higher than the Japanese yen at 105.07, but the euro was flat at $ 1.2119 and the pound sterling was up 0.1% at $ 1.3868. The risk-sensitive Australian dollar and New Zealand dollar remained unchanged.

As a result, the dollar index stabilized at 90.426.

Bitcoin Early Asian trading was almost unchanged at $ 48,722, just below the record high of $ 49,000. It recorded a profit of about 20% during the milestone week, which features the support of major companies such as Elon Musk’s Tesla.



Asian stocks: Asian stocks hit record highs, oil is strong

https://economictimes.indiatimes.com/markets/stocks/news/asian-shares-hit-all-time-highs-oil-buoyant/articleshow/80917260.cms Asian stocks: Asian stocks hit record highs, oil is strong

Back to top button