(RTTNews) – Asian stock markets traded mixed on Monday, following broadly positive signals from Wall Street on Friday, following good US earnings news and continued support from crude oil prices. Inflation fears persisted as oil prices tested new multi-year highs, with expectations that the Federal Reserve and other central banks will tighten monetary policy. Asian markets closed largely higher on Friday.
Traders also continue to voice fears that the coronavirus situation in the region and other countries, particularly the United States, may slow the pace of the global economic recovery.
The Australian stock market edged higher on Monday, extending gains from the previous two sessions, with the benchmark S & P / ASX 200 just below the 7,400 level, following broadly positive signals from Wall Street on Friday, with stocks energy and financial support. , partially offset by weakness in gold mines and technology stocks. Meanwhile, the national coronavirus situation, particularly in Victoria, remains of concern, although lockdowns have been lifted.
Victoria recorded 1,903 new locally acquired cases and seven deaths on Sunday, with the total active COVID-19 cases across Victoria standing at 22,327. NSW has reported 265 new locally acquired cases and five deaths.
The benchmark S & P / ASX 200 is up 9.90 points or 0.13% to 7,371.90, after hitting a high of 7,393.80 and an earlier low of 7,354.10. The larger All Ordinaries Index was up 8.20 points or 0.11% to 7,682.40. Australian stocks closed sharply higher on Friday.
Among the major miners, Rio Tinto gained nearly 1% and OZ Minerals nearly 4%, while Mineral Resources and Fortescue Metals rose 0.2% each. BHP Group is down 0.3% Oil stocks are mostly higher, with Oil Search gaining nearly 2%, Beach energy adding nearly 3% and Santos up more than 1%. Woodside Petroleum is up almost 1%. Origin Energy loses almost 1%. Among tech stocks, Afterpay, Xero and WiseTech Global are down nearly 1% each, while Appen is down 0.4%.
Gold miners are mostly inferior. Resolute Mining and Northern Star Resources lose nearly 3% each, while Newcrest Mining is down 0.2% and Gold Road Resources nearly 2%. Evolution Mining is down more than 3 percent.
Among the Big Four, National Australia Bank is up 0.5% and Westpac is gaining nearly 1%, while ANZ Banking and Commonwealth Bank add more than 1% each.
Senex Energy shares climbed more than 14% after South Korea’s POSCO International reduced its bid for the natural gas company to $ 814.8 million.
Aristocrat Leisure stock was halted in the morning as it made a $ 5 billion takeover bid for UK games software company Playtech.
In the currency market, the Australian dollar is trading at $ 0.740 on Monday.
The Japanese stock market is slightly lower in choppy trading on Monday, giving up some of the gains from the previous two sessions, with the Nikkei 225 just below the 29,000 level, ignoring the broadly positive signals from Wall Street on Friday as traders are careful. ahead of the looming general election, reports that the ruling Liberal Democratic Party will mainly take back power.
The benchmark Nikkei 225 closed the morning session at 28,987.66, down 80.97 points or 0.28%, after hitting a low of 28,924.40 and a high of 29,144.33 earlier. Japanese stocks finished sharply higher on Friday.
Market heavyweight SoftBank Group lost almost 1%, while operator Uniqlo Fast Retailing increased by almost 1%. Among automakers, Honda is up almost 1% and Toyota more than 2%. In the tech space, Advantest fell 0.2% and Screen Holdings lost more than 1%, while Tokyo Electron rose 0.3%. In the banking sector, Sumitomo Mitsui Financial is up 0.5% and Mitsubishi UFJ Financial is up nearly 1%, while Mizuho Financial is down 0.2%.
Major exporters are mixed, with Panasonic losing nearly 1% and Sony down 1.5%, while Canon gaining more than 1%. Mitsubishi Electric is flat.
Among the other big losers, M3 and Daiichi Sankyo lose more than 3% each, while Takashimaya and Kyowa Kirin are above by almost 3% each. Conversely, Toho Zinc gains nearly 11% and Mitsui E&S Holdings adds more than 5%, Inpex is up 1.5% and Mitsui Mining & Smelting is up more than 4%, while Hitachi Zosen and Nippon Sheet Glass earn almost 4% each. . Kawasaki Heavy Industries is up over 3%, while Rakuten Group and Pacific Metals are up nearly 3% each.
In the currency market, the US dollar is trading in the lower range of 114 yen on Monday.
Elsewhere in Asia, New Zealand, Hong Kong, Singapore, South Korea and China are down 0.1-0.7% each. Indonesia, Taiwan and Malaysia are higher by 0.1 to 0.5 percent each. On Wall Street, stocks rose for the most part during Friday’s session, extending the rally seen in Thursday’s session. As the bullish movement continued, the Dow Jones and S&P 500 hit new one-month closing highs.
The major averages all closed strongly positive, although the Dow Jones outperformed its peers. The Dow jumped 382.20 points or 1.1% to 35,294.76, while the Nasdaq rose 73.91 points or 0.5% to 14,897.34 and the S&P 500 climbed 33. 11 points or 0.1% at 4,471.37.
The main European markets also moved higher that day. While the German DAX index gained 0.8%, the French CAC 40 index and the British FTSE 100 index rose by 0.6% and 0.4% respectively.
Crude oil futures stabilized considerably higher on Friday after the International Energy Agency said demand for oil is likely to increase significantly due to the energy crisis supporting prices . West Texas Intermediate crude oil futures for November rose $ 0.97 or 1.2% to $ 82.28 a barrel. For the week, WTI crude oil futures gained 3.7%, up for the eighth consecutive week.
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