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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: An inverse head-and-shoulder targets 1.1750 before resuming the down trend

EUR/USD extends its five-day rally, trades above 1.1600. The market sentiment remains upbeat, as major US stock indices record gains between 0.46% and 68%, while the safe-haven status of the US dollar weakens across the board.

EUR/USD News

GBP/USD bulls flirt with 1.3800 around monthly high, focus on UK inflation

GBP/USD seesaws around 1.3800 as traders brace for the key inflation data during Wednesday’s Asian session. The cable pair cheered hopes of the Bank of England’s (BOE) rate hike, as well as broad US dollar weakness, to refresh the multi-day high the previous day. 

GBP/USD News

Gold at a critical technical juncture

Gold is subdued and rests in familiar territory awaiting the next major catalyst to kick start it into gear within bullish territory towards the psychological $1,800 level. The stagflation themes feed through into the precious metals hedge. 

Gold News

XRP price will dip before it breaks out

A brief technical and on-chain analysis on XRP price. Here, FXStreet's analysts evaluate how Ripple bulls take control.

Read more

UK September CPI Inflation Preview: Will rising price pressures boost British pound?

Annual CPI in UK is expected to stay unchanged at 3.2% in September. BoE rate hike prospects have been lifting the British pound. GBP/USD could continue to push higher with a daily close above 1.3850.

Read more

Forex MAJORS

Cryptocurrencies

Signatures