Asian markets are mostly up | Nasdaq

(RTTNews) – Asian stock markets are trading mostly higher on Thursday, extending recent gains, following broadly positive signals overnight from Wall Street as tech stocks mirrored their peers on the tech-heavy Nasdaq. and that traders were reacting to some upbeat corporate earnings news. Traders are a little cautious as they await US inflation data later in the day. Asian markets closed mostly higher on Wednesday.

Inflation data can impact expectations about how aggressively the US Federal Reserve plans to raise interest rates in an effort to fight inflation.

Meanwhile, San Francisco Fed President Mary Daly reportedly told CNN that inflation could get worse before it gets better. However, she added that the Fed is unlikely to be too aggressive on rate hikes.

The Australian stock market is slightly higher on Thursday, extending gains from the previous two sessions, with the benchmark S&P/ASX 200 index remaining below the 7,300 level, following broadly positive signals from Wall Street overnight, as that tech stocks mirrored their peers on tech. -heavy Nasdaq and as traders digested some corporate earnings news.

The trades also remain concerned about new national coronavirus infections, although they have reached record highs. New South Wales records 10,130 new cases and 24 deaths on Wednesday. Victoria reported 9,391 new cases and 16 deaths, Queensland recorded 5,854 new cases and eight deaths, Tasmania reported 637 new cases and one death and ACT reported 500 new cases.

The benchmark S&P/ASX 200 gained 2.70 points or 0.04% to 7,271.00, after hitting a high of 7,336.60 earlier. The broader All Ordinaries index is up 6.00 points or 0.08% at 7,578.80. Australian markets ended sharply higher on Tuesday.

Among the major miners, BHP Group gains almost 1%, Rio Tinto adds more than 2% and Fortescue Metals increases more than 4%, while Mineral Resources and OZ Minerals increase more than 3% each.

Oil inventories are mixed. Woodside Petroleum lost more than 1% and Santos fell 0.5%, while Origin Energy and Beach Energy gained more than 1% each. Among the big four banks, Commonwealth Bank was down 0.5%, while ANZ Banking and Westpac were up 0.4% each.

National Australia Bank rose more than 3% after strong quarterly earnings and cash income, driven by rising house prices and robust lending, but margins have narrowed and pandemic-warned challenges remain. In the tech space, Block is up over 9%, Zip is adding over 1%, Appen is up over 3%, Xero is up almost 2%, and WiseTech Global is up 0.3% Gold miners are mixed. Newcrest Mining is down 0.4% and Resolute Mining is down 2.5% each, while Northern Star Resources is up 0.5%, Evolution Mining is up more than 2%. Gold Road Resources is flat.

Separately, AMP shares are up nearly 4% after the financial services firm reported a full-year loss from a profit last year. It will also not pay a final dividend.

The shares of ASX Ltd. shed nearly 4% despite the markets operator posting higher first-half profits, helped by an increase in capital raising. It also increases its interim dividend by 3.5%.

Shares of rapid COVID-19 antigen test maker Anteotech fell nearly 9% after it revealed the Therapeutic Goods Administration had asked it to collect more clinical evidence on the effectiveness of its tests before they were approved.

In economic news, the total number of housing permits issued in Australia rose by 8.2% in December, seasonally adjusted, the Australian Bureau of Statistics said on Thursday – standing at 17,698. in line with expectations and up from 2.6% in November. On a yearly basis, overall approvals fell 7.5%, private sector homes fell 21.3% and non-home dwellings jumped 24.5%.

In the currency market, the Australian dollar is trading at $0.717 on Thursday.

The Japanese stock market is slightly higher on Thursday, extending the gains of the previous two sessions, with the benchmark Nikkei 225 remaining below the 27,700 level, following broadly positive signals from Wall Street overnight, as the Tech stocks mirrored their heavy tech peers. Nasdaq and as traders digested some corporate earnings news.

However, the rise was limited amid lingering concerns over the sharp rise in new national coronavirus infections as the government decided to extend the quasi-state of COVID-19 emergency in Tokyo and 12 other prefectures for another three weeks. .

Japan’s new daily COVID-19 cases have topped the 100,000 mark since Saturday and pushed hospitals and clinics to breaking point, with new daily cases also hitting record highs every day for the past two weeks.

The benchmark Nikkei 225 closed the morning session at 27,598.11, up 18.24 points or 0.07%, after hitting a high of 27,880.70 earlier. Japanese stocks ended sharply higher on Wednesday.

The SoftBank group, heavyweight in the market, lost nearly 3% and the operator Uniqlo Fast Retailing was down 0.3%. Among automakers, Toyota lost nearly 4%, while Honda gained nearly 6%. In technology, Advantest is up over 3%, Screen Holdings is up 1.5% and Tokyo Electron is up over 1%.

In the banking sector, Mizuho Financial lost 0.2%, Sumitomo Mitsui Financial lost more than 1% and Mitsubishi UFJ Financial lost nearly 2%.

The main exporters are mixed. Sony gains nearly 2%, while Canon and Mitsubishi Electric add nearly 1% each. Panasonic is down 0.2%.

Among the other top gainers, Shiseido and Sumco each gain more than 5%, while Tokai Carbon and Fujikura add more than 4% each. Nissan Chemical, Denka, DeNA and CyberAgent each rose more than 3%.

Conversely, Yamato Holdings plunged more than 13% and Mitsui E&S Holdings fell more than 6%, while Terumo and Mitsubishi Materials fell more than 3% each.

In economic news, producer prices in Japan rose 8.6% year-on-year in January, the Bank of Japan said Thursday, beating expectations of 8.2% from 8.5% in December. On a monthly basis, producer prices rose 0.6%, again beating the forecast of 0.4% after falling 0.2% the previous month.

Export prices fell 0.2% on the month and rose 6.6% year on year after falling 0.7% on the month and climbing 8.0% year on year a month earlier. early. Import prices fell 0.9% on a month and jumped 28.0% on a year after rising 0.2% on a month and 33.8% on a year in December.

On the currency market, the US dollar is trading around 115 yen on Thursday.

Elsewhere in Asia, New Zealand, China, Taiwan, Malaysia and Indonesia are 0.1-0.9% higher each, while Singapore, Hong Kong and South Korea are 0 lower .1 to 0.2% each.

On Wall Street, stocks showed a strong uptrend in Wednesday’s session, extending the rally seen in the previous session. The major averages all rose noticeably, with the tech-heavy Nasdaq helping to lead the advance.

The Nasdaq hit a new high for the session before the close, hitting 295.92 points or 2.1% at 14,490.37. The S&P 500 also jumped 65.64 points or 1.5% to 4,587.18, while the Dow Jones jumped 305.28 points or 0.9% to 35,768.06.

Major European markets also showed strong upward moves on the day. While Britain’s FTSE 100 index jumped 1%, France’s CAC 40 index and Germany’s DAX index jumped 1.5% and 1.6%, respectively.

Crude oil prices rose on Wednesday after data showed a drop in U.S. crude inventories last week. West Texas Intermediate crude oil futures for March ended up $0.30 or 0.3% at $89.66 a barrel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.