Asian stocks bounced up after Wall Street’s rebound

Stocks Japan – Korea reversed to increase after a rebound of Wall Street

Green covered Asia-Pacific stock market in the morning session of December 16 after Wall Street rose strongly last night thanks to the prospect of economic stimulus package.

After the previous floor red session, Japan’s Nikkei 225 this morning turned back and rose 0.20%. Photo: AFP

Japan’s Nikkei 225 this morning reversed and rose 0.20% to 26,742.01, while the Topix index rose 0.56% higher, although the country’s export turnover in November did not reach. as expected. The Japanese Ministry of Finance announced this morning, December 16, the country’s export turnover in November decreased by 4.2% over the same period last year. This is in stark contrast to the 0.5% increase forecast by experts in a recent Reuters poll.

South Korea’s Kospi index this morning also bounced back and rose 0.36% to 2,766.82 points, while Australian stocks rose the most among major stock markets in Asia – Pacific with the index. S & P / ASX 200 increased by 1.2%. Overall, the MSCI Asia-Pacific Index (excluding Japan) rose 0.35%.

Investors are focusing their attention on the progress of negotiations on the US economic stimulus package after the meeting between the top four leaders of the US Congress on December 15 in an urgent move to unify the package. arouse.

Shares of suppliers for Apple in the Asia-Pacific region simultaneously gained points in the morning session of December 16, after Nikkei news reported that the US technology “giant” would increase iPhone production by about 30% in the first half of 2021.

Specifically, in Japan, Alps Alpine shares jumped 6.91% and Taiyo Yuden shares increased 1.84%. Meanwhile, South Korea’s LG Display shares also inched up 1.11 percent.

On the Hong Kong market, investors are watching shares of China’s largest chipmaker SMIC after stock index provider MSCI announced that SMIC is in the list of shares wiped from the index. MSCI’s global investment market number.

In the remarkable developments of the world’s major central banks, the US Federal Reserve (Fed) is expected to take a dovish policy stance at its meeting on December 16, though The agency holds a brighter long-term outlook for the US economy thanks to the recent development and circulation of Covid-19-resistant vaccines.

Wall Street stocks recovered strongly last night thanks to the expectation that the US fiscal stimulus package will be approved soon. The Dow Jones industrial average soared 337.76 points and closed at 30,199.31 points, while the S&P 500 last night cut off a series of four consecutive days of decline by 1.3% to 3,694.62. point. In particular, the index leaning towards Nasdaq Composite technology last night closed to a new level after rising 1.3% to 12,595.06 points.

On the money market, the greenback continued to weaken this morning. The US dollar index against other major currencies fell to 90,473, compared with 90.6 set at the beginning of the week. Japanese Yen appreciated and converted 103.63 JPY / USD, compared with 104.1 JPY / USD set yesterday, while the Australian dollar also strengthened and exchanged 1 AUD “eating” 0.7553 USD, compared to the level of 1 AUD / 0.751 USD set earlier.

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