Thursday, July 29, 2021
Home Business Asian Stocks Mixed, Focus Now Squarely on U.S. Jobs Report for June...

Asian Stocks Mixed, Focus Now Squarely on U.S. Jobs Report for June By Investing.com


© Reuters.

By Gina Lee

Investing.com – Asia Pacific stocks were mixed Friday morning, finding their feet on the first trading day of July. Investors await U.S. employment data even as they continue digesting economic data from the U.S. and China.

South Korea’s inched up 0.10% by10 PM ET (2 AM GMT). According to data released earlier in the day, the country’s rose a lower-than-expected 2.4% year-on-year in June.

China’s slid 1.45% and the fell 1.27%. The for June, released on Thursday, was also a lower-than-expected 51.3.

Hong Kong’s fell 1.4%, with markets reopening after a holiday.

Japan’s was up 0.34% and in Australia, the was up 0.28%.

U.S. shares steadied after the posted its longest winning streak since February 2021. Economic data released on Thursday said that the was a slightly lower-than-expected 60.6 in June and that a lower-than-forecast 364,000 were filed throughout the past week.

Investors now await the country’s jobs report for June, including , due later in the day. The data is expected to provide clues as to when the U.S. Federal Reserve could begin the asset tapering and interest rate hikes hinted at in June’s policy decision.

Philadelphia Fed President Patrick Harker said cutting asset purchases by $10 billion a month might be reasonable and that he favored starting the process in 2021, according to a report. The International Monetary Fund also predicted that the central bank could begin asset tapering in the first half of 2022, and hike interest rates later in 2022 or in early 2023.

“With economic and earnings growth prospects robust, policy accommodative, and valuations still appealing relative to bonds, we believe the current environment is supportive of further equity gains,” UBS Global Wealth Management chief investment officer Mark Haefele said in a note.

Across the Atlantic, European Central Bank President will also speak later in the day.

Meanwhile, the Delta variant of the COVID-19 virus remains a concern, with the U.S. warning that it could eclipse other variants in the nation within weeks. Hong Kong also said that a hotel cleaner has tested preliminarily positive for the variant, dashing hopes that the city has nipped its latest variant outbreak in the bud.

However, Johnson & Johnson (NYSE:) said its single-shot COVID-19 vaccine and provides durable protection against infection more broadly, following Moderna Inc.’s (NASDAQ:) claims that its vaccine also offered protection against the variant earlier in the week.

In cryptocurrencies, Robinhood Markets Inc. turned investors’ attention towards the sector as it filed for an initial public offering on Thursday, saying that 17% of its first-quarter transaction-based revenue came from digital coins.

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

RELATED ARTICLES

HOW CAN AYURVEDA HELP IN LOWERING BLOOD CHOLESTEROL LEVELS?

High cholesterol levels can stimulate life-threatening diseases. Over time, a plaque build-up on the coronary arteries may lead to restricted heart flow, infection, heart...

Importance of a Property Site Visit in Chennai

Chennai is recognized as one of the fastest-growing cities by the US Forbes magazine. The sustained expansion of the automobile and financial services industry,...

Top 10 Hair Transplant in Pune

A hair transplant is a medical procedure used to treat baldness. The hair follicles are taken from the patient’s body and implanted where the...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

HOW CAN AYURVEDA HELP IN LOWERING BLOOD CHOLESTEROL LEVELS?

High cholesterol levels can stimulate life-threatening diseases. Over time, a plaque build-up on the coronary arteries may lead to restricted heart flow, infection, heart...

Importance of a Property Site Visit in Chennai

Chennai is recognized as one of the fastest-growing cities by the US Forbes magazine. The sustained expansion of the automobile and financial services industry,...

Top 10 Hair Transplant in Pune

A hair transplant is a medical procedure used to treat baldness. The hair follicles are taken from the patient’s body and implanted where the...

Common Reasons for Visiting an Orthopedic Doctor

An orthopedic doctor is someone who deals with the issues of the bones and the ligaments. Orthopedics is the science that involves the treatment...

Recent Comments