Another Mixed Day For Asian Equities

Another Mixed Day For Asian Equities

Wall Street had a mixed session, torn between Delta concerns and Fed tapering following a jump in the job opening above 10 million and hawkish comments from Fed officials. In the end, Wall Street chose Delta hedging, rotating modestly out of growth and back to their technology happy place.

The eased 0.09%, the edged 0.16% higher, while the fell by 0.31%. In Asia, US futures continued to sag, all three indices down by around 0.15%.

With no firm direction from New York, Asian markets have gone their own way. The was just 0.10% higher, while an unimpressive IPO debut by Krafton has dragged the down 0.65%. Regulatory risk and further cases of the Delta-variant in Mainland China continues to unnerve markets there. The was 0.15% lower, but the fell by 0.40%. managed to eke out a modest 0.15% gain.

Reopening day (for those vaccinated) lifted by 0.55% as markets price in a light at the end of the tunnel. Malaysia was on holiday while fell by 0.80% on China concerns, retreated 0.40%, and was down 0.90%. bucked the regional trend, rising 0.25%. Australian markets were trading sideways, with the and edging 0.15% higher.

Except for Singapore, most of Asia appeared to be on virus watch and nervous about Fed tapering, with investors reducing exposures into the US CPI data tomorrow night. Europe is likely to follow the same cautious path and open slightly lower this afternoon.

I anticipate equity markets continuing this pattern with a very light data calendar until the US CPI data. As previously stated, a higher than forecast US CPI print tomorrow will negatively impact Asian equities as the threat of divergence in monetary policy paths combine with Delta worries.

Original Post

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Leave a comment

Send a Comment

Your email address will not be published.

Enter text shown below: