Asian markets are mostly trading higher

(RTTNews) – Asian stock markets trade mostly higher on Tuesday, following Wall Street’s lack of indices overnight due to a public holiday, amid signs of easing COVID-19 restrictions in Beijing and Shanghai as well as the announcement of new stimulus measures in China raised optimism about the growth of the world’s second largest economy and helped support sentiment. Asian markets mostly closed higher on Monday.

Shanghai Vice Mayor Wu Qing said over the weekend that authorities would ease the conditions under which businesses can return to work this week after a strict lockdown of nearly two months.

Australia’s stock market is down slightly on Tuesday, giving up some of the gains from the previous three sessions, with the benchmark S&P/ASX 200 index remaining below the 7,300 level, following a lack of indices from Wall Street overnight. due to a holiday, dragged mainly by technology and financial stocks. The losses were partly offset by gains in materials and energy stocks.

The benchmark S&P/ASX 200 lost 35.00 points or 0.48% to 7,251.60, after hitting a low of 7,251.50 earlier. The broader All Ordinaries index is down 28.50 points or 0.38% at 7,494.10. Australian shares closed sharply higher on Monday.

Among the major miners, BHP Group rose 0.2% and Rio Tinto 0.5%, while Mineral Resources and OZ Minerals gained nearly 1% each. Fortescue Metals is up more than 1%.

Oil stocks are mixed, with Beach energy gaining nearly 3% and Santos adding more than 1%, while Woodside Energy is losing nearly 1%. The original energy is flat

Among tech stocks, Appen is up more than 1% and Xero is up 0.2%, while Afterpay owner Block is down more than 3%, WiseTech Global is down nearly 1% and Zip is down more. of 4 %.

Gold diggers are mixed. Newcrest Mining is down almost 1% and Gold Road Resources is down 1.5%, while Northern Star Resources is up 0.2%. Resolute Mining and Evolution Mining are stable. Among the big four banks, Commonwealth Bank and National Australia Bank fell 0.3 to 0.5% each, while Westpac and ANZ Banking lost nearly 1% each.

In the currency market, the Australian dollar is trading at $0.719 on Tuesday.

The Japanese stock market is slightly higher on Tuesday after being in the red for most of the morning session, extending the gains of the previous two sessions, with the Nikkei 225 crossing above the 27,400 level, despite the lack of support. indexes overnight, after economic data released showed better-than-expected unemployment and retail sales growth in April.

The benchmark Nikkei 225 closed the morning session at 27,404.14, up 34.71 points or 0.13%, after hitting a high of 27,463.33 and a low of 27,250.70. earlier. Japanese stocks ended sharply higher on Monday.

The SoftBank group, heavyweight in the market, fell by 0.4% and the operator Uniqlo Fast Retailing lost nearly 1%. Among automakers, Honda rose 0.3%, while Toyota was flat.

In the tech space, Advantest is down 0.2% and Tokyo Electron is down more than 1%, while Screen Holdings is flat. In the banking sector, Sumitomo Mitsui Financial, Mizuho Financial and Mitsubishi UFJ Financial fell by 0.3 to 0.5% each.

Major exporters are mixed, with Sony and Mitsubishi Electric rising 0.1-0.3% each, while Canon and Panasonic are down 0.5% each. Among the other big losers, Tokyo Tatemono lost 3.5%, while Sumitomo Osaka Cement, Pacific Metals and Sumitomo Electric Industries fell nearly 3% each.

Conversely, Inpex is up over 6%, Subaru is up almost 4%, Fujikura is up over 3% and Minebea Mitsumi is up almost 3%.

In the currency market, the US dollar is trading in the 128 yen range on Tuesday.

Elsewhere in Asia, New Zealand, China, Hong Kong, South Korea, Singapore and Indonesia are higher by 0.1-0.6% each. Malaysia and Taiwan are down 0.2% each.

On Wall Street, markets were closed Monday for the Memorial Day holiday and will resume trading Tuesday.

The main European markets all moved higher that day. Britain’s FTSE 100 ended up 0.19%, Germany’s DAX climbed 0.72% and France’s CAC 40 jumped 0.7%.

Crude oil futures hit their highest level in more than two months on Monday as China eased COVID-19 restrictions and scrambled to boost the country’s faltering economy. West Texas Intermediate crude oil futures for July ended at $115.75 a barrel, up $0.68 or 0.59%.

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