FX.co ★ Stock indices in Asia mostly rise

Stock indices in Asia mostly rise

Stock indices in Asia mostly rise

Analysts expect the global economy to grow this year after falling in 2020 due to the pandemic. The economies of Asian export-oriented countries, including Japan, South Korea and China, should receive a boost from the global economic recovery.

The markets were also supported by the statement of the Speaker of the US House of Representatives Nancy Pelosi. According to her, lawmakers will adopt a new package of measures to support the American economy by mid-March, when the deadline for the payment of the unemployment premiums expires.

The US Senate has approved an initiative that will allow the adoption of a $ 1.9 trillion stimulus package proposed by President Joe Biden without Republican support. Also, the adoption of new incentives served as a weak labor market indicators.

The Japanese Nikkei 225 index by 8:36 GMT + 2 increased by 1.98% and is near the maximum level in 30.5 years.

The Anglo-Swedish company AstraZeneca on Friday sent a request to the Ministry of Health of Japan in order to obtain permission to use its vaccine against the COVID-19 coronavirus in the country. AstraZeneca plans to supply 120 million doses of vaccines to Japan, sufficient to immunize 60 million people.

At the auction in Tokyo, shares of steel companies are noticeably more expensive: Kobe Steel Ltd. (+ 17.8%), Nippon Steel Corp. (+ 9.5%). Kobe Steel raised its forecast for fiscal 2020, which ends on March 31, 2021.

SoftBank Group, which plans to publish financials after the market close on Monday, is up 4.4%. The company said it would receive a $ 4 billion dividend from its UK subsidiary SoftBank Group Capital.

Suzuki Motor Corp. lose 2.5% in value, Sony Corp. - 2.7%.

By 8:43 GMT + 2, China's Shanghai Composite Index climbed 0.93%, and Hong Kong's Hang Seng Index climbed 0.44%.

Meanwhile, Chinese regulators have approved Sinovac's COVID-19 vaccine for all populations, local and Western media reported, citing a company statement.

The most significant increase in the value of casino operators Galaxy Entertainment Group Ltd. during trading on the Hong Kong Stock Exchange. (+ 3.5%). Meituan, one of the key players in the Internet services industry in China, is up 1.7%, oil PetroChina Co. Ltd. - by 1.3%, CNOOC Ltd. - by 1.5%, electronics manufacturer Xiaomi Corp. - by 0.9%.

Chip manufacturer AAC Technologies Holdings Inc. are down 1.4%, food manufacturer WH Group Ltd. by 1.3%, the brewery Budweiser Brewing Co. APAC Ltd. by 0.4%.

South Korean Kospi index by 8:33 GMT + 2 fell by 0.51%.

The market value of one of the world's largest chip manufacturers, Samsung Electronics Co. decreased by 0.1%, car manufacturer Hyundai Motor - by 5.4%.

Australian S & P / ASX 200 increased by 0.59% and reached its high in eleven months.

The shares of the financial company Zip Co. jumped in price by 12.9%. The capitalization of the world's largest mining companies BHP and Rio Tinto increased by 2.4% and 3.4%, respectively.

Origin Energy shares fell 3.5%.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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