|Day's Range||22,800.11 - 22,965.56|
|52 Week Range||16,358.19 - 24,115.95|
Stocks in Asia were mostly higher early Wednesday, following a rally in U.S. markets driven by optimism over the gradual economic recovery from the coronavirus pandemic.
Investors were weighing better-than-expected earnings results from big U.S. banks and improving consumer prices, with concerns that the coronavirus spread may disrupt the economic recovery.
Shares fell in Asia on Tuesday as skepticism set in about the recent upward momentum in global markets given rising confirmed coronavirus cases and percolating tensions between the U.S. and China.
Stocks were unable to hold on to their earlier gains in Monday’s volatile session as California reversed its reopening plans and coronavirus cases continue to surge in the country. California Gov. Gavin Newsom ordered all restaurants, bar, movie theaters, zoos and museums to close their indoor operations. The announcement caused stocks to reverse course, after gaining during much of the trading day on hopes of better-than-expected financial results for the second quarter.
The PBOC indicated there was little need for more emergency measures that had been rolled out as COVID-19 hit business activity earlier this year.
Shares rose in Asia on Monday, cheered by expected upbeat projections for a global economic rebound that were tempered by worries over expanding coronavirus outbreaks.
U.S. stocks ended higher Friday, with support attributed in part to optimism over a coronavirus treatment as investors attempt to gauge the threat to the economic outlook from a rise in COVID-19 cases. The Dow Jones Industrial Average (DJIA) rose 369.21 points, or 1.4%, to close at 26,075.30. On Thursday, the Dow fell 361.19 points, or 1.4%, to end at 25,706.09; the S&P 500 index lost 17.89 points, or 0.6%, to end at 3,152.05; and the tech-heavy Nasdaq Composite Index closed up 55.25 points, or 0.5%, at 10,547.75, marking its third record in a row and its 27th of 2020.
Asian stock markets followed Wall Street lower Friday on worries economic recoveries might fade as coronavirus cases increase in the United States and some other countries.
Asian stock markets followed Wall Street higher on Thursday following gains for major U.S. tech stocks.
(Bloomberg) -- Potential candidates for the Nikkei 225 surged in Tokyo on Thursday as investors took bets on what companies might become the latest to join the blue-chip index.Trading house Itochu Corp.’s plans to buy out its convenience store chain FamilyMart Co. are set to open up a prized slot on the Nikkei 225. It’s the second slot to open up this year, after Sony Corp. decided to buy out fellow Nikkei 225 member Sony Financial Holdings Inc.Some of the candidates to replace FamilyMart jumped, with perennial contender for the gauge Kakaku.com Inc. jumping as much as 14%. Convenience store operator Lawson Inc. added 8.5%, while online mall Zozo Inc., a SoftBank Group Corp. affiliate, added 8.7%.Assuming the FamilyMart offer doesn’t meet regulatory or investor opposition, it is set to run until Aug. 24. Nikkei Inc. may announce the replacement during its periodic rebalancing typically announced in early September.Liquid StockFamilyMart is a member of the “Consumer Goods” sector, which includes not only retail but also fishery, foods, and services. Nikkei typically chooses the most liquid stock in the sector as the replacement, meaning that the candidate doesn’t necessarily have to be a retail chain. Any proposed changes to the Nikkei are confirmed by a committee of academics and market professionals.SMBC Nikko Securities Inc. analysts including Keiichi Ito wrote in a note that as the consumer goods sector is underrepresented in the gauge, it’s “unlikely that a non-consumer goods name would be chosen as a replacement.” In addition to Zozo and Kakaku.com, they saw casual dining chain Skylark Holdings among the leading candidates. Skylark added 4.3%.Nintendo Co., which is in the services category, has frequently been cited as a candidate to join the Nikkei 225 since moving its listing to Tokyo from Osaka. However, predictions it would be chosen in Nikkei’s periodic rebalances have consistently come to naught -- perhaps due to its high share price. Like the Dow Jones industrial average, the Nikkei 225 is price-weighted, so a given company’s share price can determine its impact.While Nintendo has both the liquidity and market representation, SMBC Nikko said “its weighting within the Nikkei 225 would become outsized” if incorporated into the gauge.Junichi Hashimoto, senior quants analyst at Daiwa Securities Co., wrote that Suntory Beverage & Food Ltd. is a possible candidate, coming from the same sector as FamilyMart. In the periodic review, Nippon Kayaku Co. could be removed from the index and replaced by Yakult Honsha Co., he wrote. He also cited Square Enix Holdings as a candidate, with shares surging 9.3% in Tokyo to a record. Suntory Beverage added 3.9%, while Nippon Kayaku fell as much as 5%.In the meantime, investors can speculate on which company will replace Sony Financial. That tender offer runs until July 13, and Tokyo bourse operator Japan Exchange Group Inc. recently approved a rule change which could speed up the announcement of its replacement on the Nikkei 225, which is likely to come before the September review.(Updates throughout with share moves)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shares were mixed in Asia on Wednesday as uncertainty over the pandemic sapped the buying enthusiasm that has been driving prices higher.
Markets were mostly lower in Asia on Tuesday as expanding coronavirus outbreaks dimmed hopes for a global recovery, despite an overnight rally in tech shares that pushed the Nasdaq composite to another record high.
Tech stocks were largely behind Monday’s rally, with Amazon surging to cross $3,000 for the first time ever and Netflix also notching an all-time high.
The Australian stock market closed lower as state border closures sparked fear of a second wave that could damage the country’s economic rebound.
Asian stock markets rose Monday as investors looked ahead for data they hope will support optimism about a global economic recovery.
Markets advanced in Asia on Friday following a Wall Street rally driven by strong jobs data. The jobs data and improved global indicators are boosting sentiment, along with positive reports on potential vaccines and treatments for the coronavirus that has infected more than 10.8 million people and killed over 520,000, according to data from Johns Hopkins University that experts say understates the tally due to issues with testing and asymptomatic cases. Overnight, the S&P 500 rose 0.5%, its fourth straight gain, ending the holiday-shortened week with a gain of 4%.
Asian stock markets followed Wall Street higher Thursday as hopes for development of a coronavirus vaccine competed with concern about rising U.S. infections.
The Dow finished lower Wednesday, but the tech-heavy Nasdaq was vaulted to a fresh record close, giving the year’s second half a mixed start as investors focused on signs of economic recovery from the coronavirus crisis and a new Fed promise for clarity on the path of rates.
The latest boost to sentiment came from Chinese factory activity gathering steam in June, with the Caixin/Markit manufacturing PMI rising to 51.2.
Asian shares were mostly higher Wednesday after Wall Street capped its best quarter since 1998, shrugging off continued signs of global economic damage from the coronavirus pandemic.
All the major indexes closed higher as markets weighed increasing coronavirus cases against economic data from China showing factory activity rising to a three-month high.
Asian shares rose Tuesday, cheered by a rally on Wally Street reflecting some optimism over stronger than expected economic data, despite widening coronavirus outbreaks.