Nikkei 225, Kospi rebounded after IMF raised its global growth forecast

Nikkei 225, Kospi soared after IMF raised its global growth forecast

However, the red color still crept through some major stock markets in Asia-Pacific in the morning session of January 27.

Japan’s Nikkei 225 increased by 0.44% in the morning session on January 27. Documentary photo: AFP

Closing the red floor in yesterday’s session, Japanese and Korean stocks turned to increase this morning. Japan’s Nikkei 225 index rose 0.44% while the Topix index rose more strongly with 0.58%. In Korea, the Kospi index rebounded 1.2%.

Mainland Chinese stocks were mixed this morning, with the Shanghai Composite Index inching slightly 0.12 percent while the Shenzhen Component Index slipped 0.232 percent. On the Hong Kong market, the Hang Seng index rose 0.6%.

China this morning announced that the profit of industrial production in 2020 will increase 4.1% over the previous year. Particularly in December 2020, industrial production profit of this country soared by 20.1% over the same period last year.

Reopening after the holiday, Australian stocks this morning were tinged with red, with the S & P / ASX 200 index slipping 0.7%. Overall, the MSCI Asia-Pacific Index (excluding Japan) still rose by 0.32%. According to the recent announcement of the Australian Bureau of Statistics, the country’s consumer price index (CPI) in the fourth quarter of 2020 increased by 0.9% compared to the previous quarter.

In the report “World Economic Outlook” published on January 26, the International Monetary Fund (IMF) forecasts that the global economy will grow 5.5% in 2021, up 0.3 percentage points. percent of the organization’s forecast for October 2020.

IMF chief economist Gita Gopinath said that the current situation mainly depends on the results of the race between the genotype virus and the vaccine to end the pandemic, as well as the effectiveness of support policies. until the end of the pandemic.

Meanwhile, the number of Covid-19 infections globally has exceeded 100 million, according to data compiled by Johns Hopkins University. The skyrocketing number of cases in the world is determined by the emergence of new Covid-19 strains, resulting in a high rate of infection.

US stocks were bleak last night, with all three major indexes going down. The S&P 500 slid 0.2 percent to close at 3,849.57, while the Dow Jones industrial average fell 22.90 points and ended the session at 30,937.10 points. Meanwhile, the Nasdaq Composite closed down 0.1 percent to 13,626.06 points.

On the money market, the US dollar index against other major currencies continued to decline to 90,165, from above 90.4. Japanese Yen still depreciated and converted 103.67 JPY / USD, compared with below 103.5 JPY for 1 USD in the previous week. In contrast, the Australian dollar this morning inched up and exchanged 1 AUD “eating” 0.7749 USD, compared with the 1 AUD / 0.768 USD set yesterday.

Oil prices on the Asian market this morning went up. Futures price of Brent crude rose 0.29% to $ 56.07 / barrel, while the price of crude oil delivered in the US rose by 0.34% to $ 52.79 / barrel.

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