empty
 
 
06.09.2021 03:50 PM
Asian stock indicators show mixed trading

This image is no longer relevant

The APT analysis unveiled that on Monday, stock indices showed mixed trading. Some of the indices surged, whereas others dropped. Thus, Japan's Nikkei 225 added 1,85%, Shanghai Composite rose by 1.12%, Hang Seng Index increased by 0.92%, whereas South Korea's KOSPI and Australian S&P/ASX 200 lost 0.05% and 0.18% respectively.

The positive investor' sentiment was caused by several factors. According to the report from the US Labor Department, in August, the number of jobs advanced by 235 thousand. At the same time, the unemployment level dropped to 5.2% from 5.4% in July. Notably, the labor market situation is the main indicator of the country's economy for the Fed to decide on the further stance of the monetary policy. Analysts suppose that the Fed may decide to start closing the stimulus programs a bit later.

Analysts also suppose that the surge in the Japanese stock index could be triggered by the news about a new prime minister. It is assumed that the new prime minister will take incentive measures to restore the Japanese economy from the effects of the pandemic. Investors also hope that the high rates of vaccination will eventually reduce the existing restrictions in the country.

Nippon Yusen K.K. and Kawasaki Kisen Kaisha Ltd. Showed the best performance in the Japanese stock market. The shares of the company advanced by 9.3% and 8.9% respectively.

At the same time, the Chinese indices were boosted by the information that the People's Bank of China decided to support small and medium businesses allocating 300 billion yuan in banks. According to experts, the central bank will continue to stimulate the country's economy in various ways due to the low pace of economic recovery, among which there may be a decrease in the reserve rate.

BYD Co. Ltd. (+5,2%) and Geely Automobile Holdings Ltd. (+1%), as well as Tencent Holdings Ltd. (+3,5%), Industrial & Commercial Bank of China Ltd. (+1,2%), and Bank of China Ltd. (+1,1%) were among the leaders.

Despite the fact that the South Korean indicator showed a decline, shares of Samsung Electronics Co., one of the largest Korean companies, showed an increase of 0.5%, while the share price of the car manufacturer, Hyundai Motor, fell by 0.2%.

At the same time, the decline in the Australian indicator could be explained by the fact that the number of job ads in the country decreased by 2.5% over the last month of the summer. Notably, analysts expect even a greater decline in employment, especially in the regions where there are restrictive measures against the spread of COVID-19. Experts suggest that the unemployment rate in Australia may rise to 5% or even higher. The shares of Australian Oil Search Ltd fell by 3.3%, whereas shares of mining companies BHP and Rio Tinto lost 3.3% and 1%, respectively.

Anastasia Kravtsova,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback