Japan – Korea stocks continued to stay in green, Hong Kong market pulled back


Japan – Korea stocks remained in green, Hong Kong market fell slightly

Green overwhelmed Asian stock markets in the morning session of October 8 after Wall Street had a recovery session last night.

Korea’s Kospi Index rose 0.18% in the morning session of October 8. Documentary photo: AFP

In Japan, the Nikkei 225 index rose 0.99% at the beginning of the session, while the Topix index rose closely with 0.8%. Green also dominated the Korean stock market with the Kospi index up 0.18%. Notable developments in the Korean market are Samsung Electronics’ shares slipping 0.3%, although the company previously estimated that its profit in the third quarter of 2020 increased 58% over the same period last year.

Australian stocks this morning “green” with the index S & P / ASX 200 up the strongest point in the region with an increase of 1.14%. On the Hong Kong bourse, the Hang Seng Index decreased slightly with a decrease of 0.73%. Overall, the MSCI Asia-Pacific (excluding Japan) edged up 0.23%.

Information about the US economic stimulus package remains a major concern for Asian investors after US President Donald Trump tweeted about the bailout of US airlines and many other stimulus measures. . This move contradicted Trump’s earlier assertion that the White House postponed negotiations with Democrats on the economic stimulus package.

“The partial stimulus cannot meet the needs of the overall US economic stimulus package,” commented Kim Mundy, Monetary Specialist at Commonwealth Bank (Australia). According to this expert, the lack of financial support measures while the epidemic is still complicated will get in the way costume recovery of the US economy.

On the Covid-19 anti-epidemic front, the pharmaceutical company Eli Lilly said that this unit was applying for a license for Covid-19 therapy. by antibodies from the US Food and Drug Administration.

After the previous “fiery red” session, US stocks last night removed the antlers with all three major indexes increasing strongly. The Dow Jones industrial average ended up 530.70 points, or 1.9%, to 28,303.46 points while the S&P 500 rebounded 1.7% to 3,419.45 points. Meanwhile, the Nasdaq Composite ended the session with 11,364.60 points, up 1.9%.

On the currency market, the greenback this morning slipped. The US dollar index against other major currencies fell from 93.9 to 93.618. Japanese Yen also weakened and converted 106 JPY / USD from 105.6 JPY / USD set at the beginning of the week, while the Australian dollar inched up and traded 1 AUD / 0.7136 USD compared to the level 1 AUD / 0.716 USD.

Oil prices on the Asian market this morning went up. Futures prices for Brent crude rose 0.36% to $ 42.14 / barrel while US crude futures prices inched up 0.18% to $ 40.02 / barrel.

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