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Asian equities ascend, backed by modest revenues on Wall Street
On Asian stocks tacked on, underpinned by moderate profits on Wall Street even as market participants were still wary ahead of the annual key banking conference in Jackson Hole later this week.
MSCI's broadest index of Asia-Pacific equities outside Japan rallied 0.1%.
In South Korea stocks KS11 gained 0.5% notwithstanding lingering concerns as for tensions on the Korean peninsula.
In Japan, Nikkei stock index N225 went down 0.1%, while Australian equities gained 0.2%.
On Monday, the Dow Jones Industrial Average along with the S&P 500 marked moderate revenues, although the Nasdaq Composite modestly declined.
The common currency stood still at $1.1815 , while the US currency didn’t change versus its Japanese rival having tumbled overnight, rising 0.1% to get to 119.11 .
Additionally, crude prices tacked on, backed by indications that supply is inevitably tightening, in particular in the USA.
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USD’s rally takes a pause, while riskier assets are modestly rising.
We are now past the middle of January, and this means that the largest US companies will report their earnings for the fourth quarter and many of them will provide the results of the entire 2020.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.