(RTTNews) – Asian stock markets traded mostly higher on Tuesday, despite slightly negative signals from Wall Street overnight, as traders reacted positively to news from leaders in the United States and China during the ‘a virtual high, although some uncertainty over the near-future outlook for the markets continues due to lingering concerns about inflation. Asian stocks ended mostly higher on Monday.
Traders are also awaiting speeches from a number of Federal Reserve officials this week for further clues on interest rates and monetary policy going forward.
The Australian stock market is slightly lower on Tuesday, abandoning some of the gains from the previous session, with the benchmark S & P / ASX 200 remaining above the 7,400 level, following negative signals from Wall Street overnight , as mining, technology and financial companies drag the market. The national coronavirus situation, particularly in Victoria, also continues to plague investor sentiment.
Victoria reported 797 new locally acquired cases and eight deaths on Monday, with active cases totaling 14,131 across Victoria. NSW has only reported 212 new locally acquired COVID-19 cases and two deaths.
The benchmark S & P / ASX 200 lost 44.00 points or 0.59% to 7,426.10, after hitting an earlier low of 7,415.50. The larger All Ordinaries Index was down 44.10 points or 0.57% to 7,754.10. Australian stocks closed slightly higher on Monday.
Among the major miners, the BHP group is down more than 2%, OZ Minerals is down almost 1% and Rio Tinto is down more than 1%. Fortescue’s metals and mineral resources are stable.
Oil stocks are mixed. Origin Energy and Woodside Petroleum are up 0.2% each, while Oil Search and Beach Energy are down nearly 1% each. Santos is down 0.4%.
Among the Big Four, the National Australia Bank and the Commonwealth Bank lose almost 1% each, while ANZ Banking is down 0.4%. Westpac is flat. Among tech stocks, Appen is down nearly 2%, Xero is down over 2%, and WiseTech Global is down over 1%, while Afterpay is up nearly 1%.
Gold miners are mostly inferior. Resolute Mining is down nearly 2%, Evolution Mining is down 0.5%, Northern Star Resources is down more than 1% and Newcrest Mining is down nearly 1%, while Gold Road Resources is up 0.3%.
In economic news, the Reserve Bank of Australia will publish the minutes of its monetary policy meeting on 2 November on Tuesday. At the meeting, the RBA kept its policy rate unchanged at an all-time high of 0.10%, but decided to abandon the yield curve control program reflecting the improving economy and more progress. faster than expected towards the inflation target. The board also voted to continue buying government securities at the rate of AU $ 4 billion per week until at least mid-February 2022.
In the currency market, the Australian dollar traded at $ 0.737 on Tuesday.
The Japanese stock market is slightly higher in choppy trading on Tuesday, extending gains from the previous three sessions, with the Nikkei benchmark above the 29,800 level, despite negative signals from Wall Street overnight, so that traders are optimistic about the stimulus package and spending plan to revive the economy from the coronavirus pandemic.
The benchmark Nikkei 225 closed the morning session at 29,841.26, up 64.46 points or 0.22%, after hitting a high of 29,960.93 and a low of 29 681.25 earlier. Japanese stocks closed slightly higher on Monday.
The heavyweight SoftBank Group is up 0.3% and the operator Uniqlo Fast Retailing is stable. Among automakers, Honda is flat and Toyota is gaining nearly 2%.
In the tech space, Advantest grew 0.5%, Tokyo Electron gained nearly 1% and Screen Holdings added nearly 1%. In the banking sector, Mitsubishi UFJ Financial gained nearly 1%, while Sumitomo Mitsui Financial fell 0.4% and Mizuho Financial lost almost 1%. The main exporters are mixed. Mitsubishi Electric fell 0.5% and Panasonic lost almost 2%, while Canon and Sony each gained nearly 1%. Among the other big losers, Kawasaki Kisen Kaisha lost 4.5%, while Nippon Yusen KK, Mitsui OSK Lines and Japan Steel Works fell by more than 3% each. Conversely, Subaru is up more than 6%, GS Yuasa adds almost 6% and JTEKT is up almost 4%, while Isuzu Motors, Dai-ichi Life Holdings and T&D Holdings each gain more than 3%. %. Marui Group, Murata Manufacturing and JGC Holdings increase by almost 3% each. In the currency market, the US dollar traded in the lower range of 114 yen on Tuesday.
Elsewhere in Asia, China, Hong Kong, South Korea, Taiwan, Malaysia and Indonesia are higher by 0.1-0.9% each. New Zealand reversed the trend and lost 0.3%. Singapore is relatively flat. On Wall Street, stocks showed lack of direction during Monday’s trading session after failing to maintain an early bullish move. Major averages bounced off the unchanged line before ending the day roughly flat.
Major averages ended the day slightly lower, down less than a tenth of a percent each. The Dow Jones lost 12.86 points to 36,087.45, the Nasdaq lost 7.11 points to 15,853.85 and the S&P 500 lost 0.05 points to 4,682.80.
Meanwhile, major European markets also moved higher on this day. While the UK FTSE 100 index rose 0.1%, the German DAX index rose 0.3% and the French CAC 40 index rose 0.5%.
Crude oil futures moved slightly higher on Monday after plunging earlier in the session on expectations of higher bids and weakening demand. The dollar’s rise to a 16-month high also weighed on oil prices early in the session. West Texas Intermediate crude oil futures for December ended up $ 0.09 or 0.1% at $ 80.88 a barrel.
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