The major Asia-Pacific stock indices are gaining ground on Monday, after the completion, on Friday, of a – rare last – week of gains on Wall Street.
China’s optimism about controlling the latest outbreaks of the coronavirus pandemic by restarting schools and businesses is also a boost to the market, according to analysts cited by the Wall Street Journal.
On the board, the Japanese Nikkei closed with an increase of 1.43%, at 26,871.27 points, with the South Korean KOSPI to gain 1.49%, while in Hong Kong o Hang Seng records gains of 2.34%. In mainland China, the Shanghai gains 1.05%, with Shenzen to add 1.10%. In Taiwan, the Taiwan Weighted strengthened by 1.60%, while in Australia the S & P / ASX 200 closed with gains of 1.94%.
Shares of Alibaba in Hong Kong rose 3.95%, while that of Meituan gained 3.79%.
Construction company James Hardie Industries, which is listed in Australia, saw its share rise 3.23%. Boral’s share gains 2.9%.
In corporate news, Trip.com is expected to announce its first quarter results after closing in US markets. The company’s share in Hong Kong gained 7.28% before the announcement.
Last week was marked by the de-escalation of government bond yields and the corresponding strengthening of shares, with investors speculating that the US Federal Reserve may not need to move so aggressively at the level of interest rate hikes in order to control inflation.
Markets do not appear to have been particularly shaken by Russia’s first foreign debt bankruptcy since the Bolshevik revolution in 1917, further isolating the country from the international financial system amid the aggressive war waged by the Putin regime against in Ukraine.
Source: Capital
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