The vehicles are reflected in a window, as the dashboards display stock information on the Australian Securities Exchange, operated by ASX.
Lisa Maree | Bloomberg | Getty Images
SINGAPORE – Asian and Pacific markets traded daily on Monday as investors reacted to last week’s U.S. jobs report that boosted expectations and fueled hopes for an economic recovery. faster.
Australian stocks were in the green, but regained some of their previous gains. The benchmark ASX 200 rose 1.06%, as most sectors traded higher, with a highly weighted financial sub-index of 1.05%. Major banking and mining stocks rose: Commonwealth Bank shares jumped 1.46%, while Rio Tinto added 3.6%, Fortescue rose 1.13% and BHP gained 2.63% %.
In Japan, the Nikkei 225 rose 0.21% as banking stocks advanced. Shares of Mitsubishi UFJ Financial Group gained 3.31%, Sumitomo Mitsui Financial Group added 2.48% and shares of Nomura rose 4.2%. Elsewhere, the Topix index added 0.46%.
Meanwhile, South Korea’s Kospi gave up previous gains to trade 0.32%. In Hong Kong, the Hang Seng index fell 1.43%, while the Hang Seng Tech index fell 3.77%.
Shares in mainland China also fell: the Shanghai compound fell 0.2%, while the Shenzhen component lost 1%.
Monday’s session in Asia-Pacific took place last Friday in a wild day in US markets, where stocks roared again due to strong sales as a stronger non-farm payroll report expected improved optimism for a faster economic recovery.
“Investors remain wary of the impact Biden’s massive tax experiment will have on long-term interest rates, leading to a fragile capital environment,” ANZ Research analysts said in a statement on Monday. morning. “This defensiveness may prevail at the mid-March meeting (Federal Open Market Committee).”
US Relief Package
The U.S. Senate over the weekend approved a $ 1.9 trillion coronavirus relief package that includes direct payments of up to $ 1,400 to most Americans. The bill is expected to pass the House of Commons this week and be sent to President Joe Biden to sign before March 14 to renew unemployment assistance programs.
Last month, Fed Chairman Jerome Powell told lawmakers that the U.S. economy was a long way from its employment and inflation targets and would likely take time to make substantial progress. He said inflation is still “soft” and the Fed was committed to current policy, implying that interest rates will remain low for now.