Asian stocks traded higher on Wednesday, following yesterday’s Wall Street rally, as speculation mounted that the new coronavirus mutation would not pose a major threat to the global economy.
Statements by health experts, such as the leading US epidemiologist Anthony Fauci, that the new strain does not seem to be more dangerous than the Delta mutation have restored optimism in the world stock markets after the strong shocks of the previous days. However, experts warn that it will take another time to reach safe conclusions.
On the board, the Japanese Nikkei 225 index rose 1.4% to 28,860.62 points despite the disappointing estimates of the government of the country for the course of the economy.
Japan downgraded its growth estimate for the last quarter to -3.6% from -3.0% previously. The downturn reflects weaker demand and lower private investment. However, analysts expect the Japanese economy to recover this quarter as economic activity strengthens again with the decline of new cases of coronavirus.
At the same time, the Japanese parliament is expected to propose a stimulus package totaling 56 trillion. yen ($ 490 billion) to help the economy overcome the coronavirus crisis.
In Hong Kong the Hang Seng is marginally changing, while in mainland China the Shanghai Composite is climbing 1.2%.
In Australia, the S & P / ASX 200 is up 1.25%, while South Korea’s Kospi is up 0.4%. The indices in Taiwan and Indonesia are also moving with a positive sign, while they are falling in Singapore.
The rally in the US market continued on Tuesday, with the S&P 500 jumping 2.1%, marking the biggest increase since last March. The tech Nasdaq climbed 3%, while the Dow Jones rose 1.4%.
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I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
