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Asian stocks move up
On Tuesday, Asian stocks inched up due to strength in Europe and America, as crude’s longest stretch of daily revenues for five years powered energy stocks, while markets in Seoul were affected by a North Korean missile launch.
Outside Japan MSCI's broadest index of Asia-Pacific stocks gained 0.3%.
Japan's Nikkei tacked on 0.4%, South Korea's KOSPI decreased 0.1%.
Earlier the KOSPI went down as much as 0.4% and the South Korean won lost 0.3% after reports North Korea had launched another missile, which could potentially land in Japanese exclusive economic zone.
Australian stocks grew 1.65%, rebounding from a 2.3% loss for the last two trading sessions.
Overnight on Wall Street, the Dow Jones Industrial Average and the S&P 500 index reported revenues of 0.6% and 0.2% respectively, led by energy stocks and financials. As for the Nasdaq, this benchmark decreased 0.5%.
American markets aren’t functioning on Tuesday due to the independence day holiday.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.