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Asian stocks mixed over disappointing Chinese data by Investing.com

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Gina Lee

Investing.com – Asia Pacific stocks were mixed Wednesday morning. Last week’s retail trade, which fueled the volatility of significantly short-circuited stocks, stabilized, companies reported higher-than-expected earnings, and U.S. stimulus was passed, all boosting sentiment, which was China. Weakened by disappointing data from.

China was down 0.28% and 0.27% by 9:36 pm (Greenwich Mean Time 2:36 am).

January, released earlier that day, was 52 compared to 56.3 in December. The announcement, following disappointing economic data released earlier this week, suggests a slowdown in China’s economic recovery. Were 51.5, 51.3 and 52.4 respectively.

Hong Kong fell 0.61%.

Japan was up 0.67% and South Korea was up 0.43%.

In Australia, it surged 1.10%.

Alphabet (NASDAQ :) Inc. (NASDAQ :) and Amazon.com Inc. US stocks rose after (NASDAQ :) reported higher-than-expected earnings. Amazon CEO Jeff Bezos will also take office in the third quarter of 2021 to replace Andy Jassy, ​​now CEO of Amazon Web Services.

Reddit Speculative Trading Collapse Sees Stocks GameStop Corp .. The plunge of (NYSE :) and AMC Entertainment Holdings Inc. (NYSE :) also pushed up stock prices.

“The fact that the retail frenzy has cooled the market a bit is a bit optimistic. Whenever the market is more stable, there is a sense of security for all investors,” said Badens Capital Advisors. Said Megan, director of portfolio strategy at. Hornman told Bloomberg.

“Wallstreetbets are trying to reduce value … retailers are still a force to consider, but we’re probably past the peak of the world where cats are out of the bag and only you live.” Stephen Innes, Global Market Strategist, AxiCorp Financial Services Chief, told Reuters.

Treasury yields have risen as progress has been made towards further US stimulus. The Senate began discussing a budget resolution for fiscal year 2021 on Tuesday. This debate is the first step towards passing the $ 1.9 trillion stimulus proposed by President Joe Biden with a simple majority rather than the 60-vote threshold required for most bills.

All of this has strengthened optimism about the global economic recovery from COVID-19 in 2021.

“All ingredients for a rapid recovery since the second quarter are sweetly baked into the reopening party cake,” said Innes of AxiCorp.

But other investors have paid more attention. Bank of America Corp (NYSE :). Analysts warned about the rise in bullishness, saying sentiment indicators are approaching a “sell” signal. Citigroup Analysts at Inc (NYSE :) have expressed concern about rising earnings expectations, noting that stock prices may be about 10% ahead.

The Bank of England will take over the policy decision on Thursday. The January US Payroll Report, which includes, will be released on Friday.

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Asian stocks mixed over disappointing Chinese data by Investing.com

https://www.investing.com/news/stock-market-news/asian-stocks-mixed-over-disappointing-china-data-2407318 Asian stocks mixed over disappointing Chinese data by Investing.com

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