Australian stocks led waves, Japan – Korea market flourished at the beginning of the week

Australian stocks led waves, Japan – Korea market flourished at the beginning of the week

Asia’s major stock indexes received the green color in the first session of the week 5/10 while investors were still skeptical about the health situation of US President Donald Trump.

The S & P / ASX 200 index rose 2.1% in the morning session on October 5. Photo: AFP

Australian stocks this morning led up waves in Asian markets. The S & P / ASX 200 increased 2.1% thanks to the pull of banking codes. Westpac Bank shares rose the most in the group of “giants” banking in Australia with a rise of 3.74%, followed by shares of ANZ group up to 3.63%, National Bank of Australia (3.26) %) and Commonwealth Bank (2.65).

Trading again after the holidays last week, Hong Kong’s Hang Seng Index rose 1.57% at the beginning of the morning session on October 5. Notably, HSBC shares listed on the Hong Kong stock exchange increased by more than 4%.

Other noteworthy information on the Hong Kong market is that shares of China’s largest chip maker SMIC fell 2% this morning after the company yesterday said there had been a “preliminary discussion” with The Bureau of Industry and Securities under the US Department of Commerce on export restrictions.

“SMIC is assessing the impact from the US imposition of restrictions on the company’s production and operations. Due to the long time to supply equipment, spare parts and raw materials from the US can be extended. or is still unstable, so it may negatively affect the company’s production and operations, “SMIC said in a recent announcement sent to the Hong Kong Stock Exchange.

In September, SMIC shares plunged after the US government announced it would consider applying export restrictions for SMIC. The sanctions imposed on China’s largest chip maker SMIC are hitting Beijing’s technological ambitions amid escalating US-China tensions.

In Japan, the Nikkei 225 increased by 1.28%, while the Topix index rose more strongly with 1.83%. On the Korean market, the Kospi index rose 1.06%. Overall, the MSCI Asia-Pacific (excluding Japan) rose 1.01%. Mainland Chinese stock markets are closed for a holiday today.

Investors continue to closely monitor the health situation of US President Donald Trump in the context of many doubts about Mr. Trump’s health.

President Trump’s doctors on October 4 (US time) said they started treating Trump with dexamethasone, a compound recommended for patients with severe Covid-19. However, Mr. Sean Conley, President Trump’s doctor, confirmed that Mr. Trump’s health condition has improved and could soon be discharged from the hospital on October 5.

Early on the morning of October 2, President Trump announced that he had tested positive for Covid-19. The head of the White House was transferred to the Walter Reed National Military Medical Center the same day after being treated with the broad-spectrum antiviral drug remdesivir.

Meanwhile, former Vice President Joe Biden, who competes for the presidential “seat” with Mr. Trump in the next November election, has tested negative for Covid-19, according to Biden’s campaign group. .

Money market this morning recorded the greenback’s depreciation. The US dollar index against other major currencies slipped from 94.4 to 93.763. Japanese Yen slipped slightly to 105.52 JPY / USD, compared with 105 JPY / USD in the previous week. By contrast, the Australian dollar appreciated and traded 1 AUD / 0.7185 USD, compared to 1 AUD / 0.707 USD previously set.

Oil prices in the Asian market this morning went up, with Brent for futures up 1.27% to 39.77 USD / barrel, while the US crude futures price surged 1.57% to 37, 63 USD / barrel.

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