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Asian equities follow Wall St. revenues
On Friday, Asian shares followed Wall Street's revenues hit overnight, while the greenback’s leap slowed ahead of the American jobs news due later in the trading session.
Spreadbetters expected EU equities to start intact to a bit higher, hoping Britain's FTSE would start unchanged too. As for Germany's DAX, it was believed to start 0.2% higher, while France's CAC was expected to gain 0.2% from the very beginning.
MSCI's index of Asia-Pacific equities MIAPJ0000PUS rallied 0.3%.
Australian equities AXJO went up 0.2%, while South Korea's KOSPI KS11 as well as Japan's Nikkei N225 didn’t change.
Chinese equities gained after the private Caixin manufacturing purchasing managers index demonstrated that the country's August manufacturing activity grew at the fastest tempo for six months.
Shanghai SSEC edged up 0.5%, while Hong Kong's Hang Seng HIS went up 0.3%.
Wall Street equities concluded higher overnight because market participants reacted to strong economic news and also drew some cautious hope from the Trump administration's recent pledge for highly anticipated details of a tax reform plan.
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.
The market sentiment is mixed, but there are still interesting movements on the market.