Asian markets mixed as Japanese exports increase
BEIJING – Asian stock markets were mixed on Wednesday after Wall Street rebounded and Japanese exports surged as investors struggled to understand how rising coronavirus infections would affect the global economy.
The Shanghai SHCOMP Composite Index,
increased 0.6% while the Nikkei 225 NIK,
in Tokyo added 0.5%. The Hang Seng HSI,
in Hong Kong sank 0.4% and the Kospi 180721,
in Seoul lost 0.2%.
the S & P / ASX 200 XJO from Sydney,
rose 1.1% after the Australian government announced that retail sales rose 1.3% more than a year ago in the three months ending in June. New Zealand NZ50GR,
and Jakarta JAKIDX,
won while Singapore STI,
and Taiwan Y9999,
The Japanese government announced that June’s exports jumped 48.5% from the previous year, beating expectations. The increase was inflated by a drop in trade in 2020, but still reflects strong demand abroad, especially in the United States and China.
Also on Wednesday, South Korea reported a daily record of 1,784 new coronavirus cases, adding to a global increase blamed on the more contagious delta variant of the virus.
Overnight, Wall Street’s benchmark S&P 500 gained 1.5%, recouping much of the previous day’s loss.
“Defensive flows have subsided. However, the gains are likely to be limited by lingering concerns about the Delta variant of COVID-19, ”ActivTrades’ Anderson Alves said in a report. “A new wave of infections could delay the reopening of global economies. “
On Wall Street, the S&P 500 SPX,
rose to 4,323.06, recouping most of its 1.6% decline on Monday, its largest in two months. The Dow Jones Industrial Average DJIA,
increased 1.6% to 34,511.99. The Nasdaq composite COMP,
gained 1.6% to 14,498.88.
The US market gained ground in choppy trading despite uncertainty over the virus’s lingering impact on business activity and inflation.
On the energy markets, the American benchmark oil CLQ21,
lost 51 cents to $ 66.69 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude BRNU21,
the basis of international oil prices, lost 54 cents to $ 68.81 a barrel in London.
The dollar USDJPY,
gained 109.91 yen against 109.83 yen on Tuesday.