APAC markets in green; ASX200 up 0.37%

June 04, 2021 03:15 PM AEST | By Furquan Moharkan

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APAC markets in green; ASX200 up 0.37% — Image source: Representative Image. © Thomaspajot | Megapixl.com

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Summary

APAC markets have been unaffected by Biden ban

China markets among top performers in the region

Australia markets continue winning streak for 4^th day in a row.

The equity markets across the Asia Pacific (APAC) region were mostly trading in green despite US announcing ban on investments in 59 more Chinese companies.

In Mainland China, the Shanghai composite was up 14 basis points while the Shenzhen component rose by 76 bps, despite opening in red. Even as China was the target of the US ban, the country’s markets were the second-best performers in the region.

The best show in the region was put up by Vietnamese markets with HNX30 up 1.47%.

In Chinese Autonomous Region of Hong Kong, Hang Seng Index was up 22 bps. In Hong Kong, despite early morning sell-off of share of technology companies recovered later and were trading in green. The shares of Alibaba Group Holding Ltd (HKG: 9988) were up 76 bps, after its affiliate Ant Group received approval to operate a consumer finance company.

In Japan, Nikkei 225 was down 41 bps, while in Korea, KOPSI parred its morning losses and was trading at 13 bps.

Meanwhile, the Australian markets continued its winning streak for fourth consecutive day, as the ASX200 was trading 41 bps higher.

Indian markets are muted as its central bank – Reserve Bank of India – is set to announce the results of its bi-monthly monetary policy meeting.

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