Asian Stock Market: Trades mixed on Delta variant concerns
|- Asian stocks trade mixed on Tuesday after the previous session’s solid gains.
- Commodity prices ruin down on demand concerns and stronger US dollar.
- US Secretary of State Antony Blinken promotes the US Infrastructure bill as a competitive toll to China.
Most of the Asia-pacific stocks trade lower except one or two indices on Tuesday following a soft session on Wall Street.
MSCI’s broadest index of Asia-pacific shares outside Japan declined 0.4%.
The Shanghai Composite Index fell 0.1% after closing 1% higher in the previous session. China reported fresh COVID-19 cases on Monday, while some cities started more rounds of mass testing in a bid to find out locally transmitted infections. The annual inflation rate slowed to a three-month low.
Japan’s Nikkei 225 gained 0.4% to a two-week high after a long weekend break. Japan’s current account surplus rose sharply to Ұ 905.1 billion from Ұ148.3 billion on yearly basis.
Hong Kong’s Hang Seng Index climbed 0.55%, Kospi declined 0.56%.
The ASX 200 rose 0.3% to a fresh high of 7,563 on upbeat corporate earnings despite rising coronavirus infections and extension of lockdown. Victoria state observed a slight rise in new cases.
Gold prices attempted to stabilise after falling to a more than four-month low on Monday on expectations of an early tapering of the Fed’s asset purchase program.
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.