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Most Asian Markets Rising as US Data Indicates Low Rates

The majority of Asian markets are experiencing a growth pattern, and Wall Street suggests the interest rates will remain low. The growth was witnessed in Seoul, but Hong Kong experienced a slight decrease. Nikkei 225 (NIK) from Japan experienced +0.55%, resulting in an 0.8% rise on 10th May. Australia showcased even higher growth, with S&P/ASX 200 (XJO) witnessing +1.30% resulting in 1% growth. South Korea followed the trend with Kospi 180721 showing +1.63% resulting in 1.4% growth. Contrarily, Hong Kong witnessed a dip with Hang Seng (HSI) showing -0.22% resulting in a 0.3% decrease. The Shanghai Composite (SHCOMP) presented +0.23%, resulting in 0.1% growth. Indonesian market JAKIDX showed a 0.89% growth, but Singapore and Taiwan both highlighted a minor dip. STI in Singapore showed -0.51% and Y9999 showed a -0.29% decrease.

While some regions are facing a dip, the overall consensus around the region is high. Considering how the pandemic is affecting the market, garnering such growth is a commendable feat. Other than the ongoing concerns, Japan is welcoming thousands of officials and players from around the globe. With the Tokyo Olympics on the way, Japan is merely 3% vaccinated at the moment. While the officials and players are certain to be vaccinated, the ongoing settings in Japan can be a concern.

Yeap Jun Rong (Singapore IG’s market strategist) stated that investors are looking out for inflation. They are also keeping a close eye on the sales data from the US and the economic growth data from Britain.

Japan has recently witnessed a surge in share prices due to strong worldwide revenue. Within the Japanese market, the automakers appear to be cruising. Toyota Motor Co. (TM) with +0.45%, Nissan Motor Co. 7201 with +4.39%, and Honda Motor Co. (HMC) +0.88% are the top earners. The US dollar USDJPY showcased 0.37% growth in the currency trading circle, equaling 108.87 Japanese Yen.

Despite the concurring health outbreak, the Asian share market is showing great potential. The majority of the markets show growth, with an occasional minor dip. Things might get tricky in Japan due to the nearing Tokyo Olympics, but the share market is running seamlessly. The data from Wall Street also indicates upcoming low-interest rates to investors.

Kelly Lax

By Kelly Lax

Kelly Lax is an editor at Financialnews247.com; She contributes the latest updates on emerging technologies and trending topics of the traditional finance industry.

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