Asian Stock Market: Trades mostly higher led by Nikkei's 2% rally
|- Asian stocks open the new trading session on a higher note.
- Fed’s tapering expectations remain well-grounded amid higher US T-yields.
- Bondholders bracing up for China’s Evergrande Monday’s coupon deadline.
Asian stocks are mostly trading in the green on Monday. Investors digested the latest US NFP data, the global energy crunch conditions and major central banks' hawkish stance.
MSCI’s broadest index of Asia-pacific shares outside Japan jumped nearly 0.5%.
The Hang Seng Index rose 0.55% as traders keep a watch over China’s debt-ridden Evergrande Monday’s deadline for coupon payments. Meanwhile, tensions brew over Taiwan after Beijing denounced statements made by President Tsai Ingwen in which she said not to bow down against China’s pressure.
The ASX 200 slipped 0.9% despite Australia’s largest city Sydney emerged from 100 days of strict lockdowns due to the Delta variant spread.
South Korean markets were closed for a holiday, and the Bank of Korea will announce its policy decision on Tuesday.
The Nikkei 225 rose 1.2% after New Prime Minister Fumio Kishida said he will not seek tax increases on capital gains and dividends.
Oil prices touch an all-time high above $80.00, exacerbating the inflation concerns across the globe.
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