Asian stock markets closed without a single direction this Tuesday (6), in a trading session that was influenced by the fall on Wall Street due to fears by a Federal Reserve (Fed) continuously hawkish in the US, after indicators suggested strength in the US economy.
On the other hand, positive signs came from China, with the country’s government being able to further relax its restrictive measures to combat the coronavirus.
The Shanghai Composite index closed at a marginal high of 0.02%, at 3,212.53 points, and the less comprehensive Shenzhen Composite was up 0.26%, at 2,067.93 points.
Hong Kong’s Hang Seng fell by 0.04% to 19,441.18 points, after jumping more than 4% in the last session.
In Tokyo, the Nikkei index was up 0.24%, to 27,885.87 points, while the South Korean Kospi retreated 1.08%, to 2,393.16 points. In Taiwan, Taiex closed with a loss of 1.68%, at 14,728.88 points.
Yesterday, the Purchasing Managers Index (PMI) of the US service sector measured by the Institute for Supply Management (ISM) contradicted market expectations by rising to 56.5 in November, signaling expansion of activity American.
With that, hopes for a softer Fed and concerned about the US productivity level ahead faded, which undermined the search for risk in the markets.
The data suggested that US inflation is “deep-seated and slow to dissipate”, according to Danske Bank.
“The stronger-than-expected ISM Services PMI came after Friday’s strong labor market report and added pressure on the Fed ahead of the key December meeting, the last of the year, next week,” comments the bank.
In the local area, news about possible additional measures to relax restrictions against covid-19 in China supported the slight gains of some markets in Asia.
Based on sources, the Reuters reported that President Xi Jinping’s government is expected to further relax the restrictions imposed by tomorrow.
In Oceania, the Australian S&P/ASX 200 index was down 0.47%, at 7,291.30 points. Over there, the Reserve Bank of Australia (RBA) raised its main interest rate by 25 basis points, to 3.10%.
According to Oxford Economics, there is little in the RBA statement that suggests a pause in the current cycle of monetary tightening.
Source: CNN Brasil
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