Business & Investment

Asian stocks rise by, follow US lead after volatile days

© Reuters.

Gina Lee – Asia Pacific equities are on the rise on Friday morning, with online trading platforms reversing big losses from Wednesday by taking steps to limit unprecedented speculative volatility of minority equities on Thursday Received the lead in the US market.

All US benchmarks ended Thursday’s trading session in the positive territory, with Asia following the last day of the volatile week.

Japan remained flat until 9 pm EST (2 am GMT), but South Korea fell 0.59%. In Australia, it rose 0.49%.

Hong Kong (HK :) rose 0.33%, but in northern mainland China it rose 0.16%. The morning trading session rose 1.02%.

“There are many reasons to keep thinking that we can make a profit, and I’m not negative to the equity market. I can say that it’s abundant in some areas right now,” said Michael Cusino, portfolio manager at Pacific Heights Assets. I am. Management LLC told Bloomberg TV.

The US market ended the day with a rise on Thursday, reversing the sharp loss a day ago. Robinhood and Interactive Brokers (NASDAQ :), a large online trading platform, has recently seen an unprecedented level of volatility after being named on Reddit’s discussion forums and attracting a huge number of retail investors. We have set an upper limit on the trading of.

The platform has restricted stocks on several stocks, including GameStop (NYSE: NYSE :) and BlackBerry (NYSE: NYSE :), which have recently risen hundreds of percentage points. Both companies’ stock prices had fallen more than 40% by the end of Thursday, but at one point they were more than tripled in value.

But for most investors, new variants are spreading globally and the country is expanding its blockade, as seen by both the United States and India, two of the countries most affected by the pandemic. So the impact of COVID-19 will continue to be a more serious concern. In this week’s new case, we will see some slowdown.

In the wider economy, the pandemic has caused the worst economic performance in the United States since World War II. U.S. Department of Commerce tentative estimates released Thursday show that U.S. gross domestic product grew at an annual rate of 4% in the fourth quarter of 2020, almost as expected, but overall U.S. GDP in 2020. Decreased 3.5%.

With that performance in mind, investors are currently looking at the progress of President Joe Biden’s $ 1.9 trillion aid program, but it’s unclear how, when, or how the package will move forward. ..

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Asian stocks rise by, follow US lead after volatile days Asian stocks rise by, follow US lead after volatile days

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