Asian Daily Market Review


Humbleguy882022/01/25 16:17
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Asian Daily Market Review


WikiFX · Jan 21, 2022 7:28 AM

Abstract:Asian markets are finishing the week with another solid session, rising broadly in response to the overnight U.S. jobs data, which was better than expected for a second consecutive month.


  Asian markets are finishing the week with another solid session, rising broadly in response to the overnight U.S. jobs data, which was better than expected for a second consecutive month. Gains could be tempered by the rising number of coronavirus cases in the U.S., or by the increasing strain between the U.S. and China. The market are climbing higher in this pre-holiday trade, making gains for the third session in a row. Once again the gains are coming after a solid overnight session on Wall Street, where investor risk appetite pushed markets higher ahead of the Christmas holiday. In Japan the Nikkei is edging modestly higher by 0.2%, with the Yen holding above the 114.00 level. Shares of Softbank Group are flat, with a loss of less than 0.1%, while shares of Sony are rising 0.3%. Among the major exporters Toyota is flat with a slight gain of less than 0.1%, Panasonic is up by 0.1%, and Canon has a modest 0.2% advance.

  Australia‘s S&P/ASX 200 is leading gains for the region as it’s trading 0.6% higher. The largest four banks are supporting gains for the broader market as ANZ climbs 0.2% higher, NAB adds 0.7%, Commonwealth Bank advances 0.6%, and Westpac has a 0.7% gain. The major miners are also providing light support, with BHP adding 0.5% and Rio Tinto gaining 0.3%. In mainland China markets are bucking the rising trend from around the region, with the benchmark Shanghai Composite losing 0.2% and the smaller cap Shenzhen Composite falling 0.4%.


  Meanwhile over in Hong Kong the Hang Seng is doing better than the mainland, rising 0.3%. South Koreas Kospi is trading 0.5% higher, and in Taiwan the Taiex is advancing 0.4%. Southeast Asian markets are mixed however, with the Straits Times in Singapore adding 0.2%, while the KLCI in Malaysia retreats by less than 0.1%, and the Jakarta Composite in Indonesia is flat at the open.


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