Asia-Pacific Shares Follow Wall Street Lower; Nikkei Hits Six-Month Low on COVID Concerns

The major Asia-Pacific stock indexes finished sharply lower on Tuesday, following Wall Street’s lead after U.S. stock markets plunged the previous session. Fears over a COVID resurgence weighed on investor sentiment. Investors are concerned about the potential impact of the surge in infections on the global economic recovery.

Japan’s Nikkei ended at a 6-month low amid rising COVID-19 cases. South Korean stocks slid for a third day as virus woes sapped risk appetite. China shares edged lower as a key lending rate held steady and Australia shares extended losses as miners and energy stocks weighed on sentiment.

Cash Market Performance

In the cash market on Tuesday, Japan’s Nikkei 225 Index settled to 27388.16, down 264.58 or -0.96%. Hong Kong’s Hang Seng Index finished at 27259.25, down 230.53 or -0.84% and South Korea’s KOSPI Index closed at 3232.70, down 11.34 or -0.35%.

In China, the benchmark Shanghai Index settled at 3536.79, down 2.33 or -0.07% and in Australia, the S&P/ASX 200 finished at 7252.20, down 33.80 or -0.46%.

Japan’s Nikkei Ends at 6-Month Low Amid Rising COVID-19 Cases

Japan’s Nikkei share average fell to a six-month low on Tuesday, tracking a broad sell-off on Wall Street as concerns grew that rising coronavirus cases globally could derail a nascent economic recovery.

As COVID-19 cases rise in Tokyo, now under its fourth state of emergency, public concern has grown that hosting the Tokyo Olympics with tens of thousands of overseas visitors could accelerate infection rates in Japan’s capital and introduce variants that are more infectious or deadlier.

South Korean Stocks Slide for Third Day as Virus Woes Sap Risk Appetite

South Korean shares ended lower for a third straight session on Tuesday, as technology heavyweights tracked overnight losses on Wall Street over worries about surging coronavirus cases globally.

Chip giant Samsung Electronics fell as much as 0.76%, while peer SK Hynix slid 0.42%. Internet giant Naver and battery maker LG Chem also dropped 0.90% and 0.61%, respectively.

China Shares Edge Down as Key Lending Rate Kept Steady

China shares ended down on Tuesday after Beijing kept a benchmark lending rate unchanged despite growing expectations for a cut, while investor concerns over developer Evergrande affected the property sector.

Policymakers kept the one-year loan prime rate (LPR) at 3.85%. The five-year LPR remained at 4.65%. The rate was unchanged for the 15th straight month, despite growing expectations for a cut after a surprise lowering of bank reserve requirements.

The steady LPR, coming after the central bank kept the rate on medium-term lending facility (MLF) loans unchanged last week, suggests policymakers are looking to avoid full-scale easing.

Australia Shares Extend Losses as Miners and Energy Stocks Weigh

Australian shares pared back sharp losses made in the morning trade but ended lower on Tuesday, as a steep drop in mining and energy stocks outweighed gains in tech and healthcare firms.

On Tuesday, South Australia also entered lockdown, the third Australian state to do so as the country battled the worst COVID-19 outbreak of this year.

Aussie miners were among the biggest drags on the benchmark, slumping nearly 1.9% even as iron ore prices inched up. Energy stocks slumped as oil prices dipped 7% overnight, while Australia healthcare stocks reversed losses to end 0.9% higher.

For a look at all of today’s economic events, check out our economic calendar.

Asia-Pacific Stock Indexes Finish Mixed, but Mostly Lower Amid Renewed COVID-19 Variant Concerns

The major Asia-Pacific stock indexes finished mixed but mostly lower on Friday as investors booked profits ahead of the weekend. Worries about valuations weighed on risk sentiment as well as concerns over the spread of the COVID-19 Delta Variant and its potential impact on the pace of the global economic recovery.

In Japan, the Nikkei dipped below 28,000 as tech stocks followed the U.S. NASDAQ Composite lower. Hong Kong shares inched higher while posting a weekly gain. South Korean stocks ended lower on virus worries and a tech sell-off, but still posted its first weekly gain in three.

China shares were down on Friday, but finished higher for the week as investors bet on policy support. Australian shares edged lower as lockdowns weighed on investors sentiment.

Friday’s Cash Price Performance

On Friday, Japan’s Nikkei 225 Index settled at 28003.08, down 276.01 or -0.98%. Hong Kong’s Hang Seng Index finished at 28004.68, up 8.41 or +0.03% and South Korea’s KOSPI Index closed at 3276.91, down 9.31 or -0.28%.

In China, the Shanghai Index settled at 3539.03, down 25.29 or -0.71% and Australia’s S&P/ASX 200 Index finished at 7348.10, up 12.20 or +0.17%.

China Stocks Post Weekly Gains as Investors Bet on Policy Support

China stocks posted weekly gains, as investors took comfort in the central bank’s surprise decision to cut the amount of cash that banks must hold as reserves to help underpin the country’s post-COVID economic recovery.

China’s central banks made a surprise cut in banks’ reserve requirement ratio (RRR) last Friday, releasing around 1 trillion Yuan in long-term liquidity, lifting hopes for further policy supports throughout the week.

Investor sentiment was also lifted by better-than-expected June activity data including retail and industrial output, driven by a rebound in developed market demand coupled with the sluggish recovery in Southeast Asian exporters.

Nikkei Breaks Below 28,000 as Tech Stocks Track NASDAQ Slide

Japan’s benchmark Nikkei share average fell below the psychologically key 28,000 mark on Friday as tech shares tracked declines on Wall Street overnight, while a continued surge in coronavirus infections dented investor sentiment.

New COVID-19 infections leapt to 1,308 cases in Tokyo on Thursday, the highest since January, a week before the city hosts the Olympics, which could potentially spark a renewed surge in infections amid the influx of foreign athletes and officials.

South Korea Stocks Fall on Virus Worries, Tech Sell-Off

South Korean shares retreated on Friday, dragged down by tech stocks after the NASDAQ closed lower overnight, while rising local COVID-19 cases also weighed on risk appetite.

South Korea’s prime minister said more limits on private gatherings may be needed around the country as the country battles the worst-ever outbreak, with authorities reporting 1,536 new coronavirus cases for Thursday.

Australian Shares Edge Lower as Lockdowns Weigh

Australian shares inched lower on Friday as lockdowns in the country’s two most populous cities soured investor sentiment, with heavyweight miners snapping a four-day winning streak.

The state of Victoria was ordered into a five-day lockdown on Thursday following a spike I COVID-19 infections, joining Sydney as they battle an outbreak of the highly contagious Delta variant.

For a look at all of today’s economic events, check out our economic calendar.

China Shares Rise on June Exports Beat; Aussie Stocks Stumble Amid Possible Extension of COVID-19 Lockdowns

The major Asia-Pacific stock indexes were mostly higher on Tuesday as investors reacted to an unexpected jump in China’s trade data for June. Meanwhile, Australia shares ended flat as major banks weighed on the broad index.

Japanese shares closed near a one-month high as investors awaited earnings. South Korean stocks ended higher on upbeat Chinese data and Hong Kong shares rose on the back of technology and financial strength.

Cash Market Performance

In the cash market on Tuesday, Japan’s Nikkei 225 Index settled at 28718.24, up 149.22 or +0.52%. Hong Kong’s Hang Seng Index finished at 27963.41, up 448.17 or +1.63% and South Korea’s KOSPI Index closed at 3271.38, up 24.91 or +0.77%.

In China, the benchmark Shanghai Index settled at 3566.52, up 18.69 or +0.53% and in Australia, the S&P/ASX 200 Index finished at 7332.10, down 1.40 or -0.02%.

China Shares End Higher on Consumer Boost after Strong Export Data

China’s blue-chips closed higher on Tuesday, supported by strong gains in consumer staples firms, as new data showed the country’s exports grew at a much-faster-than-expected pace in June on recovering global demand, Reuters reported.

China’s exports in June jumped 32.2% as compared with a year earlier, customs data showed Tuesday. That was much higher than a forecast by analysts in a Reuters poll for a 23.1% growth in exports for June.

The data also showed Chinese imports in June surging 36.7%. That compared against an estimate for imports to have increased 30%, according to Reuters.

Australia Shares End Flat as Major Banks Weigh

Australian shares closed slightly lower on Tuesday, as major banks capped the advances made by heavyweight miners, with the possibility of a coronavirus-led lockdown being extended in the country’s largest city still left open.

Australia reported a slight easing in new COVID-19 cases in Sydney on Tuesday, but the possibility of a lockdown extension still looms, with growing fears that the outbreak was showing early signs of spreading further afield, according to Reuters.

The heavyweight financial index closed 0.4% lower, with Australia’s biggest lender Commonwealth Bank of Australia and second-largest lender Wespac skidding up to 0.8% and 0.5%, respectively.

In contrast, Australian mining stocks closed 0.04% higher with iron ore advancing more than 3% as lingering concerns about a tight supply of the steelmaking raw material eclipsed expectations of a slowdown in China’s steel demand.

For a look at all of today’s economic events, check out our economic calendar.

Marketmind: Real World Data Bites

While U.S. 10-year Treasury yields have bounced back 10 basis points from the 1.25% floor hit last week, there’s still a lot of uncertainty on the direction of travel.

The pandemic is obviously the biggest unknown moving forward with the Delta variant causing a surge in cases around the world.

From Sydney, which reported another record daily rise in COVID-19 cases, to London where the British government’s plans to lift restrictions comes just as a new wave of infections hits, it’s clearly not what markets had in minds.

In that light, China cutting the amount of cash that banks must hold as reserves to boost liquidity and back its economic recovery is a sign that the global economy is not out of the wood yet.

The move has at least temporarily lifted spirits in Asia with MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.7% after shedding 2.3% last week.

Shanghai copper prices also rose, while a steady dollar ahead of U.S. inflation data on Tuesday kept London prices under pressure.

Crude futures are also under pressure despite talks among key producers to raise output in coming months stalling.

In Europe and on Wall Street, stocks futures are mixed ahead of an earnings season that is about to kick off with record expectations.

While profits for Europe Inc are expected to have soared over 100% in the second quarter, any setback could bite hard with markets already pricing stellar earnings.

Key developments that should provide more direction to markets on Monday:

– ECB to change policy guidance at next meeting, Lagarde says

– Credit Suisse’s Swiss compliance officer Scarlato leaving

– Euro zone ministers meet

— Auctions of U.S. 6-mth, US 10 year, 3 year notes

– ECB Vice-president Luis de Guindos speaks

– New York Fed President John Williams speaks on inflation

For a look at all of today’s economic events, check out our economic calendar.

(Reporting by Julien Ponthus; editing by Dhara Ranasinghe)

Asia-Pacific Shares Finish Mixed on China Crackdown Concerns, Uncertainty Ahead of Fed Minutes

The major Asia-Pacific stock indexes finished mixed on Tuesday as investors awaited clarity on future monetary policy from the U.S. Federal Reserve following the release of the minutes from its June meeting on Wednesday. In other news, the Reserve Bank of Australia announced Tuesday its decision to keep the cash rate target at 0.1%.

Tuesday’s Cash Market Performance

In the cash market on Tuesday, Japan’s Nikkei 225 Index settled at 28643.21, up 45.02 or +0.16%. Hong Kong’s Hang Seng Index finished at 28072.86, down 70.64 or -0.25% and South Korea’s KOSPI Index closed at 3305.21, up 12.00 or +0.36%.

In China, the benchmark Shanghai Index settled at 3530.26, down 4.06 or -0.11% and in Australia, the S&P/ASX 200 Index finished at 7261.80, down 53.20 or -0.73%.

China Stocks End Lower as Healthcare, Tech Firms Tumble

China stocks ended lower on Tuesday, with healthcare and tech firms leading the losses, as local investors remained wary of lofty valuations of certain sectors.

The Shenzhen’s start-up board declined 1.8%, while Shanghai’s tech-focused index lost 2.7%. Leading the declines among sectors, the CSI300 healthcare index tumbled as much as 6% before ending 3.8% lower.

Chinese tech firms slumped amid concerns over Beijing’s crackdown on ride-hailing giant Didi Global and scrutiny of other platform companies in the country.

Tech Stocks Drag Australia Shares Lower, Despite Energy Boost

Australian shares closed lower on Tuesday weighed down by tech stocks and as the country’s central bank in a policy meeting decided to pare its bond buying program.

The Reserve Bank of Australia in its July policy meeting on Tuesday held the cash rate at 0.1%, as widely expected, and highlighted ongoing virus outbreaks as a key near-term uncertainty. The big four banks were down between 0.2% and 0.6%, while the financial sub-index fell 0.42%. However, the jump in oil prices boosted Australia’s energy sub-index which rallied to 1.6%, after hitting a near 3-week high during Tuesday’s session.

Nikkei Gains as SoftBank, Uniqlo Owner Rebound

Japan’s Nikkei ended modestly higher on Tuesday as shares of SoftBank Group and Fast Retailing rebounded, although worries over a potential spike in coronavirus infections during the Olympics limited gains. The Nikkei had slid more than 0.6% in the previous session after a rise in COVID-19 cases in Tokyo over the weekend.

Meanwhile, Japan’s government is likely to decide on Thursday to extend a state of quasi-emergency in Tokyo and three nearby prefectures beyond an original an original end-date of July 11.

South Korean Stocks Hit Record Closing High on Tech Boost Ahead of Samsung Electronics Earnings

South Korean Shares posted a record closing high on Tuesday, led by technology stocks ahead of the preliminary earnings from Samsung Electronics, with investors awaiting minutes from the U.S. Federal Reserve’s latest policy meeting.

Samsung Electronics is expected to see a 38% surge in profit for the April-June quarter, thanks to strong chip prices and demand spurred by a pandemic-led consumer appetite for electronics as well as recovering investment in data centers.

For a look at all of today’s economic events, check out our economic calendar.

Asia-Pacific Shares Called Higher Following More Record Highs on Wall Street

The major Asia-Pacific stock indexes are expected to open firmer on Tuesday following a flat trade the previous session. Investors are expected to follow Wall Street’s lead which saw the S&P 500 and NASDAQ Composite set more record highs, boosted by a court win for Facebook and broad strength in tech stocks.

Asian shares got the week off to a cautious start on Monday, with Chinese markets holding steady, as a spike in coronavirus cases across the region over the weekend hurt investor sentiment.

In the U.S. on Monday, tech stocks surged, with shares of Apple and Salesforce adding more than 1%. Facebook jumped more than 4% after a U.S. federal court dismissed an antitrust case against the company from the Federal Trade Commission (FTC) and closed with a market cap above $1 trillion. Semiconductor stocks were a bright spot on Monday, with Nvidia rising 5% and Broadcom climbing more than 2%.

Monday’s Cash Market Performance

In the cash market on Monday, Japan’s Nikkei 225 Index settled at 29048.02, down 18.16 or -0.06%. Hong Kong’s Hang Seng Index finished at 29268.30, down 19.92 or -0.07% and South Korea’s KOSPI Index closed at 3301.89, down 0.95 or -0.03%.

In China, the Shanghai Index settled at 3606.37, down 1.19 or -0.03% and in Australia, the S&P/ASX 200 Index finished at 7307.30, down 0.70 or -0.01%.

Japan’s Nikkei Ends Flat as Investors Cautious Ahead of U.S. Data

Japan’s benchmark Nikkei index ended lower on Monday, weighed down by chip-related stocks tracking a muted NASDAQ trade in the previous session, while investors were also cautious ahead of key U.S. economic data due later this week.

”Some key U.S. economic reports such as jobs data will be released later this week, so inventors will remain cautious for the whole week,” Tomoichiro Kubota, a senior market analyst at Matsui Securities, said. “But that does not mean sentiment is bad as other indexes have risen.”

Hong Kong Stocks End Lower as Materials Outweigh Consumer Gains

Hong Kong stocks ended slightly lower on Monday, as losses in energy and materials companies outweighed gains among consumer and healthcare firms.

The sub-index of the Hang Seng tracking energy shares dipped 1.6%, the materials sector lost 2.3%, while the consumer discretionary index and the healthcare sector gained 1.7% and 1.8%, respectively.

China’s Blue-Chip Index ends Higher as Tech Stocks Shine

China’s blue-chip index ended higher on Monday, underpinned by tech gains, as investors hoped for continued policy support.

Tech stocks outperformed on Monday. Shenzhen’s tech-heavy start-up board rose 1.9%, and Shanghai’s tech-focused STAR50 index climbed 1.8%.

Beijing will not change or could even step up its support for the country’s technology sector, which is the biggest good news for related stocks in the A-share market, brokerage Orient Securities said in a report.

In other news, data over the weekend showed profit growth at China’s industrial firms slowed again in May as surging raw material prices squeezed margins and weighed on factory activity.

Profits at China’s industrial firms rose 36.4% in May from a year earlier to 829.92 billion Yuan ($128.58 billion), official data showed on Sunday. That was a slowdown from the 57% surge reported in April, according to National Bureau of Statistics.

For a look at all of today’s economic events, check out our economic calendar.

Asia-Pacific Shares Rise Accross the Board Led by Materials Jump Following US Infrastructure Deal

The major Asia-Pacific stock indexes followed Wall Street higher on Friday with shares in Hong Kong leading the charge.

In the U.S. on Thursday, the benchmark S&P 500 Index gained 0.58% to a new record closing high. The blue chip Dow Jones Industrial Average jumped 0.94% and the tech-heavy NASDAQ Composite finished 0.68% higher. The gains stateside came after U.S. President Joe Biden announced the White House had reached an infrastructure deal after meeting with a bipartisan group of senators.

Cash Market Performance

In the cash market on Friday, Japan’s Nikkei 225 Index settled at 29066.18, up 190.95 or +0.66%. Hong Kong’s Hang Seng Index finished at 29288.22, up 405.76 or +1.40% and South Korea’s KOSPI Index closed at 3302.84, up 16.74 or +0.51%.

In China, the benchmark Shanghai Index settled at 3607.56, up 40.91 or +1.15% and in Australia, the S&P/ASX 200 Index finished at 7308.00, up 32.70 or +0.45%.

Hong Kong Stocks End Higher on Tech, Materials Boost

Hong Kong stocks closed higher on Friday to post weekly gains, as tech and materials companies rose after mainland investors continued to buy shares via the Stock Connect. Leading the gains, the Hang Seng tracking energy shares rose 1.7%, while the IT sector rose 3.1%, the financial sector ended 0.75% higher and the property sector rose 0.18%.

Aiding sentiment was continued buying from mainland investors, who purchased a net 5 billion Yuan worth of Hong Kong shares on Friday, according to Refinitiv data.

China Stocks Post Weekly Gain on Financials Boost

China stocks jumped on Friday to snap three straight weekly losses, powered by gains in heavyweight financial firms. Financial firms underpinned the market, with the CSI300 financials index jumping 1.7%. The CSI SWS securities index rose 3.1%.

“The golden era for Chinese residents to boost equities has arrived, leading to a long-term upbeat cycle for securities firms,” SWS Research said in a report. “Residents’ wealth migration to equities assets are accelerating as other competitive wealth products’ returns continue to decline,” SWS Research added.

Australia Shares Gain as US Infrastructure Bill Raises Recovery Hopes

Australian stocks rose on Friday, led by banks and mining stocks, after U.S. President Joe Biden embracing a bipartisan Senate infrastructure deal raised hopes of a recovery in the world’s largest economy.

The benchmark S&P/ASX 200 closed 0.5% higher at 7,308.0, but notched its first weekly loss in six as surging COVID-19 cases in the country’s most populous state, New South Wales kept markets on edge through the week.

“The infrastructure announcement means there will be a whole lot of cash injection into the system. It means, there will be a strong demand for materials, and that will definitely benefit the Australian market,” said Brad Smoling, managing director at Smoling stockbroking.

For a look at all of today’s economic events, check out our economic calendar.

Asia-Pacific Investors Hoping to Ride Wall Street, Powell’s Friendly Comments Higher on Opening

The major Asia-Pacific stock indexes are expected to open steady-to-better on Tuesday following another solid performance on Wall Street. The S&P 500 ended its trading session just under a new closing record, while the tech-weighted NASDAQ Composite climbed to an all-time high. The Dow was also higher after posting its best day since March on Monday.

Asia-Pacific traders are likely to get their guidance from Tuesday’s testimony before a House of Representatives panel by Fed Chair Jerome Powell, which began at 18:00 GMT.

Powell reaffirmed the U.S. central bank’s intent to encourage a “broad and inclusive” recovery of the job market, and not to raise interest rates too quickly based only on the fear of coming inflation.

“We will not raise interest rates preemptively because we fear the possible onset of inflation. We will wait for evidence of actual inflation or other imbalances,” Powell said.

Recent price increases “don’t speak to a broadly tight economy” that would require higher interest rates, Powell said, but come from categories “directly affected by reopening” of the economy.

Tuesday’s Cash Market Performance

In the cash market on Tuesday, Japan’s Nikkei 225 Index settled at 28884.13, up 873.20 or +3.12%. Hong Kong’s Hang Seng Index finished at 28309.76, down 179.24 or -0.63% and South Korea’s KOSPI Index closed at 3263.88, up 0.71%.

In China, the benchmark Shanghai Index settled at 3557.41, up 28.23 or +0.80% and in Australia, the S&P/ASX 200 Index finished at 7342.20, up 1.48%.

Nikkei Posts Biggest Gains in a Year as Shippers Hit 10-Year Highs

Japanese shares jumped on Tuesday, tracking Wall Street overnight, boosted by shipping stocks after Mitsui OSK Lines more than tripled its half-yearly net profit forecast. The rise in the benchmark Nikkei marked its biggest percentage gain since June last year.

Shippers led gains, with the top three firms logging a rise of more than 10%, after Mitsui OSK Lines raised its forecast for six-month net income to 170 billion Yen ($1.54 billion) from 50 billion yen.

Automakers were among other stand-out stocks, with Suzuki Motor rallying 7.4% and Toyota Motor adding 3.3% amid a weakening Yen, which boosts exporters’ profits. Home builders also gained.

Australia Shares Rise Most in Nearly 4 Months on Energy, Mining Stocks

Australian shares jumped the most since March on Tuesday, rebounding from the previous session’s drop as an overnight rally on Wall Street spurred investors to pile into domestic energy and mining stocks.

The domestic energy index surged 2.2% as oil prices also advanced. Benchmark heavyweight miners gained 2.1%.

Despite the strong performance, the benchmark index’s gains may have been capped by concerns around COVID-19 cases in the country’s most populous state of New South Wales (NSW).

Looking Ahead to Wednesday

Investors are hoping to ride the strong performance on Wall Street to even higher levels on Wednesday especially since Powell seems to have downplayed the threat of higher inflation and a sooner than expected rate hike.

In the U.S. cash market on Tuesday, the benchmark S&P 500 Index settled at 4246.44, up 21.65 or +0.51%. The blue chip Dow Jones Industrial Average finished at 33945.58, up 69.61 or +0.20% and the tech-heavy NASDAQ Composite closed at 14253.27, up 111.79 or +0.79%.

For a look at all of today’s economic events, check out our economic calendar.

Steep Drop in Japan’s Nikkei 225 Drags Major Asia-Pacific Stock Indexes Lower

Most of the major Asia-Pacific stock indexes are down sharply following a plunge in Japanese shares. China stocks, however, are bucking the trend with a slight gain.

Japanese stocks slumped on Monday, tracking Wall Street’s sharp decline over the weekend, after Federal Reserve official James Bullard surprised markets by signaling that the U.S. central bank might raise interest rates sooner.

Heavy selling across the board at the Tokyo Stock Exchange dragged down the other regional indexes.

Meanwhile, Chinese shares were underpinned after the country announced that the one-year Loan Prime Rate (LPR) was kept unchanged at 3.85% while the five-year LPR was also held steady at 4.65%. That was in line with expectations of majority of analysts in a snap Reuters poll, who had predicted no change to the one-year Loan Prime Rate as well as the five-year LPR.

Cash Market Performance

In the cash market on Monday, Japan’s Nikkei 225 Index it trading at 27980.87, down 983.21 or -3.39%. Hong Kong’s Hang Seng Index is at 28533.51, down 267.76 or -0.93% and South Korean’s KOSPI Index is trading at 3228.30, down 39.63 or -1.21%.

In China, the benchmark Shanghai Index is trading 3529.05, up 3.95% or +0.11% and in Australia, the S&P/ASX 200 Index is at 7237.40, down 131.50.

Nikkei Plunges to 1-Month Low

Heavy selling was seen across almost all sectors, with the Tokyo Stock Exchange’s 33 industry sub-indexes trading lower, while just one stock climbed in the benchmark Nikkei. The Nikkei share average fell below 28,000 for the first time since May 20.

“The Japanese market is reacting too much. First of all, rate hikes are signs of an economic recovery,” Shuji Hosoi, senior strategist at Daiwa Securities, said. “But Japan needs to find its own consistent reason for a market rebound as Japanese companies are already speeding up vaccine rollouts for their employees. A steady vaccine rollout could be a major reason for an economic recovery.”

South Korea Stocks Track Wall Street Losses on Hawkish Fed

South Korean shares fell on Monday, catching the tailwind from a retreat on Wall Street, as investors remained wary of a more hawkish stance from the U.S. Federal Reserve.

Among heavyweights, chip giants Samsung Electronics and SK Hynix fell 0.75% and 1.61%, respectively, while battery maker LG Chem and internet giant Naver slid 0.12% and 0.38%, respectively.

Australian Shares Drop as Fed Official’s Hawkish View Spooks Investors

Australian shares on Monday were set for their steepest fall in nearly five weeks, as they tracked a sell-off on Wall Street in the previous session on comments from a Federal Reserve official on sooner-than-expected rate hikes.

In the domestic market, financials declined the most, shedding more than 3%. The so-called “Big Four” banks fell between 2.1% and 4.4%.

Commodities also continued to lose ground. Gold stocks lost nearly 2%, with sector heavyweight Newcrest Mining dipping 1.3%. Energy stocks were down 1.8%, with Viva Energy slipping 1.1%.

For a look at all of today’s economic events, check out our economic calendar.

Asia-Pacific Stocks: Japanese Shares Follow NASDAQ Higher; Aussie Shares Jump on Dovish RBA Minutes

The major Asia-Pacific stock indexes finished mixed on Tuesday with shares in Australia and Japan bucking the trend with nearly 1% gains. Trading was relatively light as investors looked to a much-anticipated Federal Reserve policy meeting on Wednesday to see if the central bank would signal any change to the U.S. monetary policy outlook.

In the cash market on Tuesday, Japan’s Nikkei 225 Index settled at 29441.30, up 279.50 or +0.96%. Hong Kong’s Hang Seng Index finished at 28638.53, down 203.60 or -0.71% and South Korea’s KOSPI Index closed at 3258.63, up 6.50 or +0.20%.

Traders will look closely at any hints from the meeting’s final statement about whether and when the Fed plans to taper its bond buying program, amid concerns from some quarters about inflation as the U.S. economy bounces back from the pandemic fallout. The two-day meeting starts on Tuesday.

Japanese Shares Track NASDAQ Higher, Drug Makers Shine

Japanese shares closed higher on Tuesday, buoyed by technology and growth-oriented stocks following a strong finish on the NASDAQ Composite overnight, while drug makers extended their gains.

Growth stocks led the gains after NASDAQ shares outperformed on Wall Street, with the Topix Growth Index rising 1.09%, compared with 0.53% gains in value shares.

“Today’s (Tuesday) strong market finish is simply a reaction to the gains in the NASDAQ overnight,” said Jun Morita, general manager of the research department at Chibagin Asset Management.

Drug makers were the top gainers among the Tokyo Stock Exchange’s 33 sectors with a rise of 1.65%. Eisai jumped 6.59%, making it the biggest gainer on the Nikkei.

Takeda Pharmaceutical, which is handling the supply of Novavax’s COVID-19 vaccine in Japan, rose 1.69% after clinical tests showed the U.S. firm’s vaccine candidate is more than 90% effective against a variety of variants of the virus.

Australia Shares Close at Record High as RBA Signals Continued Dovish Policy

Australian shares closed at a record high on Tuesday, helped by gains among banking and healthcare stocks, and after minutes from the domestic central bank’s June meeting signaled a continuation of its accommodative stance.

The Reserve Bank of Australia (RBA) is ready to extend its bond purchase program beyond September, minutes from its June policy meeting showed, with members calling the program “one of the factors underpinning the accommodative conditions necessary for the economic recovery”.

For a look at all of today’s economic events, check out our economic calendar.

Asia-Pacific Shares Called Higher, but Gains Could Be Muted by Fed Policy Uncertainty

The major Asia-Pacific shares are expected to open higher on Monday, following Friday’s Wall Street performance. The price action could be muted, however, due to uncertainty ahead of the start of a two-day Federal Reserve monetary policy agreement.

U.S. stocks closed modestly higher at the end of a listless week marked with few market-moving catalysts and persistent concerns over whether current inflation spikes could linger and cause the U.S. Federal Reserve to tighten its dovish policy sooner than expected.

A broad gauge of Asian shares rose on Friday as investors looked past rising U.S. consumer prices and focused on one off-factors which suggested higher inflation could be short-lived.

Cash Market Performance

In the cash market on Friday, Japan’s Nikkei 225 Index settled at 28948.75, down 9.83 or -0.03%. Hong Kong’s Hang Seng Index finished at 28842.13, up 103.25 or +0.36% and South Korea’s KOSPI Index closed on 3249.32, up 24.68 or +0.77%.

In China, the benchmark Shanghai Index settled at 3589.75, down 21.11 or -0.58% and in Australia, the S&P/ASX 200 Index finished at 7312.30, up 9.80 or +0.13%.

Japanese Shares End Lower as Cyclical Stocks Drag; Toshiba Slips

Japanese shares ended marginally lower on Friday as losses in cyclical stocks, as well as banks and property firms, offset gains in heavyweight technical firms.

Toshiba Corp shed 1.59% after an explosive investigation released on Thursday found the company and the government colluded to lean on foreign investors to fall in line with management’s wishes.

Some market participants doubt Japan’s economy will recover as quickly as that of the United States and other advanced nations, as the country grapples with a fourth wave of the pandemic.

South Korean Stocks Extend Gains for Fourth Week as Inflation Fears Ease

South Korean shares closed higher on Friday, tracking overnight gains in Wall Street as inflationary concerns eased ahead of the U.S. Federal Reserve policy meeting next week.

The benchmark index ended the week up 0.29%, extending the buying spree to a fourth straight week. Among the heavyweights, technology giant Samsung Electronics ended flat, while peer SK Hynix rose 4.07%. Battery maker LG Chem added 5.33%.

In other news, the Bank of Korea will start normalizing its loose monetary policy in an orderly manner once the economy is seen on track for a solid recovery, the central bank’s governor said.

Australia Shares Rise for Fourth Week as U.S. Inflation Worries Cool

Australian shares ended at a record high on Friday, supported by tech stocks and gold miners, and notched up a fourth straight weekly gain as investors bet spiking U.S. inflation would be temporary as predicted by the Federal Reserve.

Gold stocks were the best performers, jumping 3.4% and marking their best session since May 7, as bullion prices edged above $1,900 per ounce. On Australia’s gold sub-index, Newcrest Mining gained 3.1% to mark its best session in over a month, while Bellevue Gold added 7.8%.

Technology stocks ended at a five-week high, tracking overnight gains on the tech-heavy NASDAQ.

National Australia Bank (NAB) posted a 3.8% weekly loss, recording its worst week since late October last year, as the lender is under investigation for suspected breaches of anti-money laundering laws.

For a look at all of today’s economic events, check out our economic calendar.

Asia-Pacific Shares Finish Mostly Higher; China Central Bank Comments Ease Inflation Concerns

The major Asia-Pacific stock indexes closed mostly higher on Thursday, as investors positioned themselves ahead of the release of a U.S. consumer inflation report for May.

Japan’s Nikkei ended higher on economic rebound hopes. Hong Kong’s Hang Seng ended slightly lower as investors awaited the U.S. inflation data. South Korean stocks ended higher on foreign buying. Shares in China rose as inflation fears eased, and in Australia, technology and banking stocks were strong.

Cash Market Performance

In Japan, the Nikkei 225 Index settled at 28958.56, up 97.76 or +0.34%. Hong Kong’s Hang Seng finished at 28738.88, down 3.75 or -0.01% and South Korea’s KOSPI Index closed at 3224.64, up 8.46 or +0.26%.

China’s benchmark Shanghai Index settled at 3610.86, up 19.46 or +0.54% and Australia’s S&P/ASX 200 Index finished at 7302.50, up 32.30 or +0.44%.

Japan’s Nikkei Ends Higher on Economic Rebound Hopes

Japan’s Nikkei Index closed higher on Thursday, as shipping firms rose on prospects of more economic reopenings and drugmakers were boosted by reports of government support.

Signs that more economies are reopening amid a steady vaccine rollout underpinned shipping firms, with Nippon Yusen jumping 3.65% to be the biggest gainer on the Nikkei.

Japan plans to finish vaccinating all citizens who have applied for shots by October-November, Prime Minister Yoshihide Suga said during a debate between party leaders on Wednesday.

China Stocks End Higher as Inflation Fears Ease

China stocks ended higher on Thursday, as regulators played down inflation worries and as Sino-U.S. talks helped underpin sentiment.

China’s central bank governor said inflation is “basically under control”, and monetary policy would be kept steady, in comments a day after concerns over inflationary pressures were fanned by data showing the fastest rise in factory-gate prices in 12 years.

In other news, top U.S. and Chinese commerce officials spoke by telephone and agreed to promote healthy trade and cooperate over differences, China’s commerce ministry said on Thursday, the latest high-level exchange as the countries spar over disagreements.

Australia Shares Rise on Tech, Banking Stocks as Focus Shifts to US Inflation

Australian shares rose on Thursday, led by technology and banking stocks, while global markets closely watched for U.S. inflation data for clues on how soon the Federal Reserve will start tapering its massive stimulus.

Technology stocks were the best performers on the benchmark index, jumping 2% to close at a more than one-month high. Banks rose 0.4%, with three of the so-called “Big Four” closing in positive territory.

In commodity-related shares, domestic gold stocks recorded gains, even as bullion prices remained largely subdued, with investors turning cautious ahead of the U.S. inflation data and a European Central Bank meeting.

Energy stocks fell 1.1% and capped gains on the index, as oil prices fell on weaker-than-expected fuel demand.

For a look at all of today’s economic events, check out our economic calendar.

Asia-Pacific Shares Mixed; China PPI Higher than Expected, Japan’s Nikkei Weighed Down by US CPI Worries

The major Asia-Pacific stock indexes finished mixed but mostly lower on Wednesday, as investors assessed the impact of Chinese inflation data, while awaiting the release of Thursday’s U.S. consumer inflation report and the European Central Bank’s monetary policy decision.

Hong Kong shares ended lower after the U.S. passed a bill that poses a threat to Chinese technology. South Korean stocks finished nearly 1% lower on a technology slump and Japanese shares were pressured by cautious trading ahead of the U.S. inflation data.

Australian shares were dragged down by bank shares, and Chinese stocks rose as factory-gate data signaled a strong recovery.

Cash Market Performance

In the cash market on Wednesday, Hong Kong’s Hang Seng Index settled at 28742.63, down 38.75 or -0.13%. The South Korean KOSPI finished at 3216.18, down 31.65 or -0.97% and Japan’s Nikkei 225 Index closed at 28860.80, down 102.76 or -0.35%.

Australia’s S&P/ASX 200 Index settled at 7270.20, down 22.40 or -0.31% and in China, the benchmark Shanghai Index finished at 3591.40, up 11.29 or +0.32%.

China Shares End Higher as Factory-Gate Data Signals Recovery

China stocks ended higher on Wednesday, driven by coal and resources firms, as investors lapped up data that showed factory-gate prices in May saw their fastest annual pace in more than 12 years, implying signs of steady global economic recovery.

China’s producer price index for May jumped 9% from a year earlier, against expectations in a Reuters poll for a 8.5% increase. The country’s consumer price index in May rose 1.3% from a year earlier, lower than an expected 1.6% rise in a Reuters poll.

Hong Kong Shares End Lower as U.S. Bill on China Tech Threat Weighs

Hong Kong shares closed lower on Wednesday, dragged by tech firms after U.S. Senator passed a package of laws aimed at boosting its ability to take on Chinese technology.

The U.S. Senate voted 68-32 on Tuesday to approve a sweeping package of legislation intended to boost the country’s ability to compete with Chinese technology.

The Chinese foreign ministry on Wednesday urged the United States to stop promoting such laws and to stop depicting China as a threat.

Japan Shares End Lower on Caution Ahead of US Inflation Data

Japanese equities closed lower on Wednesday, on profit-taking in shippers and semiconductor stocks, with investors awaiting U.S. inflation data as it could influence how soon the Federal Reserve pares its stimulus program.

Financial firms and insurers declined after a retreat in long-term U.S. Treasury yields dampened the outlook for returns on their portfolios.

Eisai Co, however, surged 16.26%, rising by the daily limit for a second straight session after its Alzheimer’s drug received a nod from U.S. regulators on Monday.

“Japanese investors want to see the U.S. CPI number tomorrow, and if it’s not faster than expected, that should come as a relief to markets and could very well result in a rally,” said Masahiro Ichikawa, chief strategist at Sumitomo Mitsui DS Asset Management.

Right now though, “there’s a strong wait-and-see attitude overall in markets,” he said, adding that investors booked profits and squared positions ahead of the data.

For a look at all of today’s economic events, check out our economic calendar.

Asia-Pacific Stock Investors Hoping to Build on Last Week’s Gains Ahead of Key China Manufacturing Report

Asia-Pacific stock market investors are hoping for follow-through buying after last week’s strong performance ahead of Monday’s opening. Investors will get the opportunity to react to Friday’s U.S. inflation data that was released after the Asian market close. However, volume could be on the light side due to the U.S. Memorial Day holiday.

Investors will have the opportunity to react to the release of China’s official manufacturing Purchasing Managers’ Index for May, which could be a market-moving event.

In the cash market last week, Japan’s Nikkei settled at 29149.41, up 831.58 +2.94%. South Korea’s KOSPI Index finished at 3188.73, up 32.31 or +1.02% and Hong Kong’s Hang Seng Index closed at 29124.41, up 665.97 or +2.34%.

China’s Shanghai Index settled at 3600.78, up 114.22 or +3.28% and Australia’s S&P ASX/200 Index finished at 7179.50, up 149.20 or +2.12%.

China Securities Regulator Paying Great Attention to Commodity Price Fluctuations

The China Securities Regulatory Commission (CSRC) pays great attention to commodity price fluctuations and has been cracking down on irregularities in the futures market, it said on Friday, amid worry about higher prices being passed on to consumers, Reuters reported.

“CSRC will help manage commodity prices in coordination with other government bodies,” CSRC spokeswoman Gao Li told a media briefing.

The assurance comes after commodity prices touched record highs in recent weeks raising concerns in Beijing. Regulators have repeatedly pledged tougher inspections of physical and derivatives markets, and crackdowns on speculation and hoarding.

China Stocks Post Best Week in Three months on Easing Inflation Fears, Yuan Strength

China stocks slipped on Friday, but posted their best week in more than three months as inflation and policy tightening worries faded and strong Yuan boosted foreign inflows into the country’s equities market.

Hong Kong Stocks End Flat, Post Best Week in over Three Months

Hong Kong stocks ended flat on Friday, as gains in resources firms were offset by losses in tech and healthcare companies, but posted their best week in more than three months as inflation fears fade.

Traders attributed the week’s rally to easing worries over inflation as Beijing vowed to curb significant price gains in the commodities market.

South Korea Stocks Rise in Auto Strength, Upbeat US Data; Post 1% Weekly Gain

South Korean shares rose on Friday, logging their biggest weekly jump in three, led by tech heavyweights, as upbeat data from the United States supported recovery momentum.

South Korea’s May exports are expected to have risen at their quickest pace in over three decades, a Reuters poll showed, thanks to strong global demand for the nation’s major products – semiconductors, cars and petroleum products.

Foreigners were net buyers of 140.1 billion won ($125.62 million) worth of shares on the main board.

Australia Shares Close at Record High on Mining, Energy Boost

Australian shares settled more than 1% higher on Friday, posting their best week in seven, as mining and energy stocks tracked an uptick in commodity prices, while strong U.S. data boosted hopes of an economic recovery and lifted sentiment globally.

Metals and mining stocks jumped 2%, adding 1.6% for the week, as iron ore futures rose after China said it planned to curb steel output to meet its peak carbon emission target.

Energy stocks gained 1.7% as oil prices climbed on promising U.S. economic data and expectations of a strong rebound in global fuel demand in the third quarter.

For a look at all of today’s economic events, check out our economic calendar.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – May 25th, 2021

Ethereum

Ethereum surged by 26.25% on Monday. Reversing an 8.58% slide from the previous day, Ethereum ended the day at $2,651.24.

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,072.15 before making a move.

Steering clear of the first major support level at $1,756, Ethereum rallied to a late intraday high $2,678.25.

Ethereum broke through the first major resistance level at $2,412 to wrap up the day at $2,650 levels.

At the time of writing, Ethereum was up by 2.67% to $2,722.12. A mixed start to the day saw Ethereum fall to an early morning low $2,627.41 before rising to a high $2,749.98.

While leaving the major support and resistance levels untested early on, Ethereum tested resistance at the 38.2% FIB of $2,740.

ETHUSD 250521 Hourly Chart

For the day ahead

Ethereum would need to avoid the $2,467 pivot to bring the first major resistance level at $2,862 into play.

Support from the broader market would be needed, however, for Ethereum to break out from the 38.2% FIB of $2,740.

Barring an extended crypto rally, the first major resistance level and resistance at $3,000 would likely cap any upside.

In the event of another broad-based crypto rally, Ethereum could test resistance at the 23.6% FIB of $3,369. The second major resistance level sits at $3,073.

Failure to avoid the $2,467 pivot would bring the first major support level at $2,256 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $1,861.

A sustained fall through the 62% FIB of $1,725 would form a near-term bearish trend from 12th May’s swing hi $4,384.30.

Looking at the Technical Indicators

First Major Support Level: $2,256

Pivot Level: $2,467

First Major Resistance Level: $2,862

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin jumped by 29.89% on Monday. Reversing a 15.78% slide from Sunday, Litecoin ended the day at $185.39.

A mixed start to the day saw Litecoin fall to an early morning intraday low $139.86 before making a move.

Steering clear of the first major support level at $115, Litecoin rallied to a late intraday high $185.39.

Litecoin broke through the first major resistance level at $174 and the 62% FIB of $174 to end the day at $185 levels.

At the time of writing, Litecoin was up by 3.29% to $191.49. A mixed start to the day saw Litecoin fall to an early morning low $183.19 before rising to a high $192.20.

Litecoin left the major support and resistance levels untested early on.

LTCUSD 250521 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the 62% FIB of $174 and the $170 pivot to bring the first major resistance level at $201 into play.

Support from the broader market would be needed, however, for Litecoin to break through to $200 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $220. The second major resistance level sits at $216.

Failure to avoid a fall through the 62% FIB and the $170 pivot would bring the first major support level at $155 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$150 levels. The second major support level sits at $125.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $155

Pivot Level: $170

First Major Resistance Level: $201

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP rallied by 25.42% on Monday. Reversing a 12.48% slide from Sunday, Ripple’s XRP ended the day at $0.99474.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.75600 before making a move.

Steering clear of the first major support level at $0.6401, Ripple’s XRP rallied to a late intraday high $0.99853.

Ripple’s XRP broke through the 62% FIB of $0.8573 and the first major resistance level at $0.9568 to end the day at $0.99 levels.

Resistance at $1.00 pegged Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by 3.15% to $1.02605. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.98006 before rising to a high $1.05000.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 250521 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.9164 pivot to bring the first major resistance level at $1.0768 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $1.05000.

Barring an extended crypto rally, the first major resistance level and resistance at $1.10 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.20. The second major resistance level sits at $1.1590.

Failure to avoid a fall through the $0.9164 pivot would bring the 62% FIB of $0.8573 and the first major support level at $0.8343 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.80 levels. The second major support level sits at $0.6739.

A sustained fall through the 62% FIB would form a near-term bearish trend from 14th April’s swing hi $1.96598.

Looking at the Technical Indicators

First Major Support Level: $0.8343

Pivot Level: $0.9164

First Major resistance Level: $1.0768

23.6% FIB Retracement Level: $1.5426

38.2% FIB Retracement Level: $1.2807

62% FIB Retracement Level: $0.8573

Please let us know what you think in the comments below.

Thanks, Bob

Asia-Pacific Shares Mixed; Nikkei Closes Higher on Wall Street Gains; Tencent Drags Hang Seng Lower

The major Asia-Pacific stock indexes finished mixed on Friday with more winners than losers after Wall Street snapped a three-day losing streak on Thursday.

Japanese shares ended higher on Wall Street gains and stable U.S. interest rates. Hong Kong shares edged up as gains in the consumer sector offset Tencent losses. South Korea stocks ended lower on foreign selling, however, upbeat trade data limited declines. Financial and consumer firms dragged China shares lower and Australia shares extended gains with help from the technology sector and upbeat labor market data.

Cash Market Performance

Japan’s Nikkei 225 Index settled at 28317.83, up 219.58, up 0.78. Hong Kong’s Hang Seng Index finished at 28458.44, up 8.15 or +0.03% and South Korea’s KOSPI Index closed at 3156.42, down 5.86 or -0.19%.

In China, the benchmark Shanghai Index settled at 3486.56, down 20.39 or -0.58% and Australia’s S&P/ASX 200 Index finished at 7030.30, up 10.70 or -0.15%.

Japanese Shares Track Wall Street Higher as Stable US Rates Boost Sentiment

Japanese shares gained on Friday, as a strong finish on Wall Street overnight prompted investors to bet on cheap growth stocks, while stable U.S. interest rates also underpinned sentiment.

Hong Kong Shares Edge Up as Gains in Consumer Sector Offset Tencent Losses

Hong Kong equities ended firmer on Friday as demand for consumer discretionary and healthcare stocks helped offset selling pressure on communication firms, after lackluster results dragged Tencent shares lower.

Tencent, down 3.37%, led losses on the benchmark index, with Nomura trimming the Chinese gaming and social media giant’s price target after first-quarter core earnings slightly missed the brokerage’s expectations.

South Korea Stocks End Lower on Foreign Selling; Tech Shares, Upbeat Trade Limit Declines

South Korean shares ended lower on Friday, as foreigners turned net sellers, erasing earlier gains led by technology shares and upbeat exports data.

Foreigners were net sellers of 135.3 billion won ($120.08 million) worth of shares on the main board.

In economic news, data showed on Friday South Korean exports had surged 53.3% on-year during the first 20 days of May, helped by strong chip and car sales as well as higher demand from China and the United States.

Financial, Consumer Firms Drag China Shares Lower

China’s main share indexes ended lower on Friday, dragged down by financials and consumer staples, though the commodities sector rebounded from previous session’s slump as investors processed Beijing’s pledge to keep commodity prices in check.

Chinese commodity companies closed higher as analysts said China’s pledge to strengthen management to curb “unreasonable” increases in commodity prices are likely to have only a temporary effect.

Tech Rally, Upbeat Job Data Help Australia Shares Extend Gains

Australian shares extended gains on Friday, as investors lapped up risky assets following upbeat employment data, while local technology stocks tracked a rebound in Wall Street on signs of a pick-up in U.S. job growth this month.

Gains, however, were curbed by a 1.4% drop in the Australian mining index as iron ore slumped on China’s efforts to regulate the commodity markets. The mining index was headed for its worst week since mid-March.

For a look at all of today’s economic events, check out our economic calendar.

Asia-Pacific Stocks Mostly Lower; Japan, Australia Shares Buck the Trend

The major Asia-Pacific stock indexes finished mixed on Thursday with Japan and Australia bucking the global down trend.

Overnight, Japanese shares inched higher as chip gains offset losses in cyclicals. Meanwhile Hong Kong stocks fell on weakness in the commodity sector. South Korean stocks retreated amid a weak performance on Wall Street and turmoil in the crypto currency market.

In China, stocks were mixed as resource losses offset gains in the financial sector. Australian stocks jumped more than 1%, boosted by a recovery in the financial and tech sectors.

Cash Market Performance

In Japan, the Nikkei 225 Index settled at 28098.25, up 53.80 or +0.19%. Hong Kong’s Hang Seng finished at 28450.29, down 143.52 or -0.50% and South Korea’s KOSPI Index closed at 3162.28, down 10.77 or -0.34%.

In China, the benchmark Shanghai Index settled at 3506.94, down 4.02 or -0.11%. Australia’s S&P/ASX 200 finished at 7019.60, up 87.90 or +1.27%.

Japanese Shares Inch Higher as Chipmakers Track Overnight Gains in US Peers

Japanese shares erased early losses on Thursday, led by chipmakers tracking overnight gains by U.S. peers, but investors refrained from making active bets awaiting fresh cues after most companies announced their earnings.

In other news, Japan’s exports grew the most since 2010 in April while capital spending perked up on surging global demand for cars and electronics, lifting hopes that an improvement in trade could help lead the world’s third-largest economy back to growth.

Also brightening the outlook, confidence among the nation’s manufacturers hit a more than two-year high in May on the back of solid overseas orders, a Reuters survey showed on Thursday.

South Korea Stocks Fall on Weak Wall Street, Fed Minutes, Crypto Turmoil

South Korean shares fell on Thursday, as they tracked overnight Wall Street losses after the U.S. Federal Reserve released its April meeting minutes, while a crash in digital currency stocks after China’s curbs on cryptocurrency trading also weighed on sentiment.

Minutes of the U.S. central bank’s last meeting said a number of Fed policymakers thought that if the economy continued rapid progress, it would be appropriate “at some point” in upcoming meetings to begin discussing tapering government bond purchases.

Australia Shares Recover on Financial, Tech Boost

Australian shares on Thursday recovered slightly from the heavy sell-off in the previous session, with bank and technology stocks leading gains, though a drop in commodity prices weighed on miners and energy sectors.

In other news, Australia’s seasonally adjusted unemployment rate declined to 5.5% in April, the country’s Bureau of Statistics said Thursday. That compared against expectations for a 5.6% unemployment rate in a Reuters poll.

For a look at all of today’s economic events, check out our economic calendar.

Asian-Pacific Shares Finish Higher; Nikkei Rises Despite Disappointing GDP Report

The major Asia-Pacific stock indexes settled higher on Tuesday, led by a jump in Taiwan shares. Japanese shares jumped as investors shrugged off disappointing GDP data. South Korean stocks climbed as more economies reopened. Hong Kong stocks rose for a third day as energy and telecom firms gained.

In China, stocks were supported by energy and transportation gains. Gold and energy stocks lifted Australia shares higher as commodity prices firmed on a weaker U.S. Dollar.

Cash Market Performance

In the cash market, Japan’s Nikkei 225 Index settled at 28406.84, up 582.01 or +2.09%. Hong Kong’s Hang Seng Index finished at 28593.81, up 399.72 or +1.42% and South Korea’s KOSPI Index closed at 3173.05, up 38.53 or +1.23%.

In China, the benchmark Shanghai Index settled at 3529.01, up 11.40 or +0.32% and in Australia, the S&P/ASX 200 Index finished at 7066.00, up 42.40 or +0.60%.

Japanese Shares Jump as Investors Shrug Off GDP Data to Buy Battered Stocks

Japanese shares jumped on Tuesday as investors shrugged off data showing the economy slipped back into contraction, and picked up stocks whose valuations took a beating in recent sell-offs.

Japan’s economy shrank more than expected in the first quarter as a slow vaccine rollout and new COVID-19 infections hit spending on items such as dining out and clothes.

Shares of department stores rose after investors bought them back on expectations that local coronavirus infections would ease soon as the government has imposed restrictions and rolled out a mass vaccination program.

South Korean Stocks Climb as More Economies Reopen

South Korean shares rose on Tuesday as investors weighed spiking cases of coronavirus in some parts of Asia against the accelerating pace of economic growth as more economies reopen in the west.

The market has been repeatedly going up and down over the past few sessions in a boxed-in level, and such narrow range could continue for the next few days as the extent of economic recovery varies across the globe, said Huh Jae-hwan, an analyst with Eugene Investment & Securities.

Hong Kong Stocks Rise for Third Day as Energy, Telecom Firms Gain

Hong Kong Stocks climbed for a third straight session on Tuesday, buoyed by gains in energy and telecom shares, while downbeat China and U.S. data eased fears of policy tightening.

Leading the gains, the Hang Seng energy index and the Hang Seng telecommunications index advanced 3.4% and 1.8%, respectively.

China Mobile ended up 2.7%, after the company approved plans for a potential HK$47.08 billion ($6.06 billion) listing in Shanghai.

Data on Monday showed China’s factories slowed their output growth in April and retail sales significantly missed expectations as officials warned of new problems affecting the recovery in China.

Gold, Energy Stocks Lift Australia Shares Higher as Commodity Prices Firm

Australian shares closed higher for a third straight session on Tuesday, led by gains in heavyweight mining and energy sector stocks as commodity prices strengthened.

Gold stocks rose 2%, hitting a more than four-month high as bullion prices soared on rising inflationary pressures and dollar weakness, with country’s biggest gold miner Newcrest Mining gaining 1.1%, after touching a 6-month high earlier in the day.

Energy stocks rose for a fourth straight session and closed up 1.6%, tracking an uptick in oil prices on hopes of a solid recovery in fuel demand following the reopenings of the U.S. and European economies.

For a look at all of today’s economic events, check out our economic calendar.

Asia-Pacific Shares March Higher with Investors Buying Back Growth Stocks

The major Asia-Pacific stock indexes finished higher on Friday, following a strong technical bounce on Wall Street in the overnight session. Japanese shares rose on the Wall Street recovery and stronger corporate earnings. South Korea stocks also tracked Wall Street higher. China and Hong Kong stocks were boosted by a jump in financial and healthcare firms. Australia shares snapped a three-day losing streak amid a rise in bank and energy stocks.

Friday’s Cash Market Performance

In Japan, the Nikkei 225 Index settled at 28084.47, up 636.46 or +2.32%. Hong Kong’s Hang Seng Index finished at 28027.57, up 308.90 or 1.11% and South Korea’s KOSPI Index closed at 3153.32, up 31.21 or 1.00%.

China’s benchmark Shanghai Index settled at 3490.38, up 60.84 or +1.77% and Australia’s S&PASX 200 Index finished at 7014.20, up 31.50 or +0.45%.

Japanese Shares Rise on Wall Street Rebound, Corporate Earnings

Japanese stocks reclaimed lost ground on Friday after three consecutive days of losses, as a rebound in Wall Street and positive corporate earnings lured buyers back to the markets.

Technology shares led the advance as investors hunted for bargains following a global sell-off in the sector.

However, worries about Japan’s slow COVID-19 vaccine rollout and further restrictions on business activity could limit gains in equities.

The largest percentage gainer in the Nikkei index was Isuzu Motors Ltd, which surged by 23.83% after issuing bullish profit forecast for the current fiscal year.

South Korea Stocks Track Wall Street Higher

South Korean shares bounced back on Friday, tracking an overnight rebound on Wall Street as investors shrugged off inflation worries, but the benchmark stock index was set for its sharpest weekly decline in nearly three months.

China Stocks Rise as Financial, Healthcare Firms Rebound; Hong Kong Up

China stocks climbed on Friday as financial and healthcare firms gained, leading a rally in Asian markets as U.S. Fed officials allayed inflation fears.

Leading the benchmark index higher were the CSI300 financials index and the CSI300 healthcare index. They rose 2% and 2.8%, respectively.

Traders and analysts remain cautious for the time being, as they believed inflation fears could lead to tight liquidity conditions.

Investors were also focused on the development of Sino-U.S. relations.

The broad market also rose in Hong Kong, but the Hang Seng Tech Index slipped 0.7%, as heavyweight Alibaba Group, Holding Ltd fell after posting its first operating loss as a public company.

Australian Shares Track Wall Street Higher

Australian shares ended higher on Friday, led by gains in banks and energy stocks, tracking an overnight Wall Street rebound.

Australia’s heavyweight financial subindex ended nearly 1% higher, with top lender Commonwealth Bank of Australia hitting a record high. Lender Westpac, Australia and New Zealand Banking Group and National Australia Bank ended up between 0.9% and 1%.

Energy stocks led gains on the benchmark, finishing 1.7% higher after shedding nearly 2% over the week.

For a look at all of today’s economic events, check out our economic calendar.

Asia-Pacific Shares Fall on US Inflation Spike; Japan’s Nikkei Average Hits Four-Month Low

The major Asia-Pacific stock indexes tumbled on Thursday as Wall Street shares fell sharply with inflation data stoking fears of a rate hike by the Federal Reserve.

In Japan, the Nikkei slumped to a 4-month low as an inflation scare hit expensive shares. South Korean shares also fell for a third straight day on U.S. inflation fears. Stocks in China and Hong Kong fell on soft bank lending, Sino-U.S. tensions. In Australia, shares closed lower for a third session as miners, tech stocks took a dive.

Cash Market Performance

Japan’s Nikkei 225 Index settled at 27448.01, down 699.50 or -2.49%. Hong Kong’s Hang Seng Index finished at 27825.78, down 405.26 or -1.44% and South Korea’s KOSPI Index closed at 3122.11, down 39.55 or 1.25%.

In China, the benchmark Shanghai Index settled at 3429.54, down 33.22 or -0.96% and Australia’s S&P/ASX 200 Index finished at 6982.70, down 62.20 or -0.88%.

US Stocks Fall Sharply

U.S. stocks slumped on Wednesday as key inflation data showed higher-than-expected price pressures.

The U.S. Labor Department reported that the prices American consumers pay for goods and services accelerated at their fastest pace since 2008 last month with the Consumer Price Index (CPI) spiking 4.2% from a year ago. The Dow fell 1.99%. The S&P 500 Index lost 2.1% and the NASDAQ Composite slid 2.6%.

Nikkei Slumps to 4-Month Low as Inflation Scare Hits Expensive Shares

Japanese shares sank on Thursday, with the Nikkei average hitting a four-month low, as SoftBank Group and expensive stocks were pummeled by a U.S. inflation scare. Over the past three sessions, the index has lost 7.01%, its biggest three-day fall since the market turmoil in March 2020.

SoftBank Group dropped 7.8% as concern over its frothy portfolio valuations eclipsed the fact that it has announced a record profit for a Japanese firm. Other richly valued shares, mainly from the tech and healthcare sectors, fell sharply.

South Korea Stocks Fall for Third Straight Day on U.S. Inflation Fears

South Korean shares closed lower for a third straight session on Thursday, as a shocking rise in U.S. inflation and concerns that the Federal Reserve’s tightening may come earlier than expected dented sentiment.

Technology giant Samsung Electronics slid 1.88% even after the company said it would invest 171 trillion won ($151.10 billion) in non-memory chips through 2030, raising its previous investment target of 133 trillion won announced in 2019.

China, Hong Kong Stocks Fall on Soft Bank Lending, Sino-US Tensions

China and Hong Kong stocks fell on Thursday, after the former’s latest bank lending data missed forecasts, and as Sino-U.S. tensions weighed.

Chinese banks extended 1.47 trillion Yuan ($227.74 billion) in new Yuan loans in April, down from March and missing analysts’ expectations. Analysts polled by Reuters had predicted new Yuan loans would drop to 1.6 trillion yuan in April, down from 2.73 trillion Yuan in the previous month and 1.7 trillion Yuan a year earlier.

Australia Shares Close Lower for Third Session as Miners, Tech Stocks Dive

Australian shares fell for a third session on Thursday, with miners and tech stocks leading losses, as accelerating inflation in the United States stoked concerns over sooner-than-expected rate hikes.

Sentiment was further soured after China missed forecasts for quarterly gross domestic (GDP) and March industrial output, worrying investors in Australia about its top trade partner’s economic recovery.

Tech stocks were the biggest percentage losers on the benchmark, ending 4.7% lower, tracking a tech sell-off in U.S. peers.

Local miners also dragged the index, ending nearly 1.9% lower as iron ore prices fell more than 7% after a five-session rally.

For a look at all of today’s economic events, check out our economic calendar.