SINGAPORE — Asia-Pacific markets traded mixed Monday, with markets in Japan, Singapore, Indonesia and Malaysia advancing.
The Japanese benchmark index, Nikkei 225, was up 0.4%, trimming some of its earlier gains. The Topix index added 0.54%.
Singapore's Straits Times Index rose 0.39% while the Jakarta Composite in Indonesia was up 0.47% and the Malaysian benchmark index added 0.82%.
In South Korea, Kospi index fell 0.29% and Hong Kong's Hang Seng index was down 0.59%. Chinese mainland shares also declined: The Shanghai composite was down 0.35% while the Shenzhen component fell 0.8%.
Australia's ASX 200 advanced 0.08% as major miners came under pressure. Shares of Rio Tinto fell 1.59%, Fortescue was down 2.69% while BHP declined 1.38%.
The session follows after last week the Dow Jones Industrial Average and the S&P 500 stateside posted their fourth and second consecutive negative week of losses. U.S. stock index futures were little changed.
Last week, data showed strong comeback by the services sector both in the U.S. and Europe as businesses reopened following prolonged lockdown and benefited from a global demand recovery.
"The debate in financial markets is now not so much about how quickly GDP can recover but rather the shape of recoveries," wrote analysts at ANZ Research in a morning note. They explained it will take time to answer questions around inflation, but expect the U.S. Federal Reserve to guide the market appropriately.
"We see little prospect that Fed speakers will change recent guidance that price increases are transitory, but that the Fed will respond appropriately if not," the analysts wrote.
Currencies and oil
In the currency market, the U.S. dollar traded around 90.012 against a basket of its peers, climbing from an earlier level around 89.985.
Among the major currency pairs, the Japanese yen changed hands at 108.91, weakening from levels near 108.60 previously. The Australian dollar traded at $0.7721, slipping 0.13% from its previous close.
Oil prices rose Monday during Asian trading hours. U.S. crude was up 0.83% at $64.11 a barrel while global benchmark Brent was up 0.83% to $66.99.
Last week, both contracts registered weekly losses amid concerns of more Iranian oil hitting the market. Iran's president reportedly said the U.S. was ready to lift sanctions on his country's oil, banking and shipping sectors.
"Iran's oil production has been rising in recent months, likely in anticipation of a lifting of the sanctions," said the ANZ Research analysts in their note. "The market is also concerned about the impact of new restrictions in Asia as authorities try to contain a new outbreak of coronavirus."
Still, investors appear to be upbeat about fuel demand recovery in the U.S. and Europe as countries emerge from lockdowns and more vaccinated individuals plan their travels over the summer.
"oil" - Google News
May 24, 2021 at 06:54AM
https://ift.tt/3oIEbpz
Asia-Pacific markets trade mixed; oil prices jump 0.8% - CNBC
"oil" - Google News
https://ift.tt/2PqPpxF
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "Asia-Pacific markets trade mixed; oil prices jump 0.8% - CNBC"
Post a Comment