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World share mostly higher;  Tokyo slips as virus cases rise

BANGKOK (AP) – Global shares were mostly higher on Thursday, although the Tokyo benchmark fell as reports of an increase in coronavirus cases sounded alarm bells over another setback in the resumption of the pandemic.

The German DAX rose 0.2% to 15,199.69 while the CAC 40 in Paris climbed 0.5% to 6,160.41. The UK FTSE 100 edged up 0.1% to 6,890.55.

The future contract for the S&P 500 added 0.3% to 4,083.30. Industrial futures Dow gained less than 0.1% to 33,348.00.

Trade has been subdued this week as many countries grapple with a resurgence in COVID-19 cases and hospitalizations as new infections appear to overtake vaccinations in many places.

Tokyo reported 545 new cases on Thursday, the highest since early February, and its governor has asked the central government to let it issue binding orders under a new virus prevention law that includes penalties for homeowners. company that defy the measures and compensation for those who comply. Osaka in western Japan has declared a medical emergency as its hospitals are inundated with new cases.

New cases in India hit record Thursday with 126.789, as Prime Minister Narendra Modi received his second vaccine and urged others to follow suit, saying “vaccination is one of the few ways we have to beat the virus”.

The Nikkei 225 index slipped 0.1% to 29,708.98, while the Hang Seng index in Hong Kong jumped 1.2% to 29,008.07. In Seoul, the Kospi edged up 0.2% to 3,143.26. The Australian S & P / ASX 200 gained 1% to 6,998.80. The Shanghai Composite Index added 0.3% to 3,482.55.

Investors are cautiously optimistic about the economic recovery, particularly in the United States, where vaccine distribution has intensified and President Joe Biden has pushed back his deadline for states to make doses available of all adults by April 19.

On Wednesday, the benchmark S&P 500 rose 0.1% to 4,079.95. The Dow Jones Industrial Average gained 0.1% to 33,446.26. The Nasdaq composite slipped 0.1% to 13,688.84. The S&P 500 and the Dow each set records on Monday.

Smaller company stocks, which outperformed the general market this year, made the bulk of the sale. The Russell 2000 Small Business Index fell 1.6% to 2,223.05. The index is up 12.6% so far this year, while the S&P 500, which tracks large companies, is up 8.6%.

Analysts expect the economy to recover this year, but they also predict that the market will remain volatile as investors move money to businesses and industries that stand to benefit as the pandemic continues. ‘will attenuate. A proposal to invest massively in major infrastructure, high-speed roads and ports, through education and training, could accelerate this rebound.

Shares were little changed on Wednesday after the release of minutes from the Federal Reserve’s last meeting on interest rate policy.

The minutes found that Fed officials were encouraged last month by evidence of the recovery in the U.S. economy, but they showed no signs of ending their bond purchases or raising the dollar any time soon. their near-zero benchmark short-term interest rate.

Investors were reassured by the “Fed’s very bullish and balanced tone of more growth and transient inflation,” Axi’s Stephen Innes said in a comment.

“And that keeps US investors in the candy store mode while feeding off the infrastructure-boosting sugar rush.”

The 10-year Treasury yield remained stable at 1.65%.

In other exchanges, benchmark US crude oil fell 34 cents to $ 59.43 per barrel in electronic trading on the New York Mercantile Exchange. It picked up 44 cents to $ 59.77 a barrel on Wednesday. Brent, the international standard for pricing, fell 21 cents to $ 62.95 a barrel.

The US dollar slipped to 109.46 Japanese yen from 109.85 yen. The euro went from $ 1.1868 to $ 1.1881.

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