APAC markets, except NZ, bask in a sea of green on US cues

2 min read | June 25, 2021 03:02 PM AEST | By Furquan Moharkan

All the equity markets in the Asia Pacific (APAC) region, save New Zealand, were trading in green on Friday, following in the footsteps of its peers in the US.

In Japan, the benchmark Nikkei 225 was up 81 basis points at the time of filing this copy while the Topix index gained 68 basis points.

In Mainland China, where markets do not see much of global impact, shares across indices were trading in green as well, with the Shanghai Composite Index rising by 79 basis points, while the Shenzhen Component was trading 55 basis points higher. In the Chinese Autonomous Region of Hong Kong, the Hang Seng index was up 1.22% by noon local time.

Elsewhere in South Korea, the benchmark KOSPI was trading 58 basis points higher.

Down Under, in Australia, the ASX200 was trading 66 basis points higher. However, in neighbouring New Zealand, the markets were hovering near flatline, with the Dow Jones New Zealand down by 5 basis points.

The Morgan Stanley Capital International’s (MSCI) Asia-Pacific index, meanwhile, was trading 17 basis points higher.

The APAC markets were buoyed by Wall Street’s record run overnight. Overnight in the US, the S&P 500 gained 58 basis points to a new record closing high of 4,266.49. On the other hand, the Dow Jones Industrial Average, or Dow 30, also jumped 322.58 points to 34,196.82 while the Nasdaq Composite rallied 69 basis points to 14,369.71.

The gains in Wall Street came after US President Joe Biden said that the White House had reached an infrastructure deal after parleys with a bipartisan group of senators.


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