Asian equity markets advanced as investors disregarded the implications of renewed virus lockdowns and emerging Sino-U.S. dispute. Instead, they focused on upcoming company earnings, hoping that global stimulus efforts will render positive outlooks.
MSCI’s broadest of Asia-Pacific shares outside Japan jumped 0.6%, securing a 20-week high as Chinese stocks advanced further. Japan’s benchmark index Nikkei soared 0.2%.
China’s blue-chip index recorded eight winning sessions on Thursday, gaining a total of 0.6% enough to hit its five-year high. The Shanghai composite index increased by the same margin and at its highest level since 2018.
Australia’s S&P/ASX 200 also advanced with a 0.1% gain. However, New Zealand’s benchmark dropped nearly 2% after a Rio Tinto plan to close an aluminum smelter dragged energy stocks.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...