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Asian shares demonstrate mixed performance after Easter break
On Tuesday, Asian stocks were mixed following the Easter break.
As a matter of fact, China’s Shanghai Composite as well as the Shenzhen Component headed south by respectively 0.4% and 1.1%. The Hang Seng Index stood still sticking with 29,973 in Hong Kong.
The dive in Chinese stocks occurred after the Chinese government indicated they won’t probably add stimulus due to the fact the country’s cabinet is getting heavily concerned about the danger of asset bubbles.
Well, instead, watchdogs will shift their focus to reforms and opening up and also restructuring.
China’s 25-member ruling body of the country, the Politburo headed by President Xi Jinping, ascertained that the country’s economic performance turned out to be better than anticipated and that market confidence has got back, as the state-owned Xinhua news agency informed.
The news appeared after the previous week China posted better-than-anticipated economic surge in the first quarter.
Besides this, Japan’s Nikkei 225 sank by about 0.2%. Japan’s Prime Minister Shinzo Abe is expected to meet leaders of the EU on Thursday and then American leader this week in America.
In South Korea, the KOSPI index managed to rally by up to 0.1%. Additionally, Samsung Electronics Co Ltd managed to make headlines once again right after the company told that it made up its mind to postpone the launch of its latest flagship handset “Galaxy Fold” following reports of screen failures among some review units just after several days of use. Samsung didn’t reveal another debut date.
Besides this, Australia’s ASX 200 rallied by up to 0.8%.
As for Australia-listed Santos Ltd, Woodside Petroleum Ltd as well as Beach Energy Ltd all shot up by nearly 3%.
Long time we haven't checked the S&P 500 stocks - there are interesting events and trends to follow.
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China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.