Asian Stock Market: Attempts to recover despite coronavirus jitters, NZD surprise move
|- Asia-pacific stocks make efforts to recover part of their previous session decline.
- Overnight fall in Wall Street reinforces worries on the global growth recovery.
- US dollar stays strong above 93.00, commodities under selling spree.
Asian shares bounce off yearly lows on Wednesday following the overnight declines on Wall Street.
MSCI’s broadest index of Asia-pacific shares outside Japan declined gained 0.14%.
Investors remain concerned about the worries on the rapid spread of the coronavirus Delta variant as it could derail the prospects of global economic growth.
The Shanghai Composite Index gained 0.3%, as traders look forward to more policy support to bolster a wobble Chinese economic recovery. Meanwhile, China reported 28 new confirmed coronavirus cases in the mainland on Tuesday as compared with 42 a day earlier.
Japan’s Nikkei 225 rose 0.02%, rising for the first time in five sessions. Japan’s exports rose for the fifth straight month.
Hong Kong’s Hang Seng Index gained 0.75%, Kospi rose 0.90%.
The Reserve Bank of New Zealand (RBNZ) surprised the market by holding the interest rate in the context of the nationwide restrictions.
The US Dollar Index (DXY) remains strong above 93.00 with 0.04% losses.
Gold trades flat at $1,791 per ounce with mild gains.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.