APAC markets open mostly in green on Wall Street cues

Summary

  • APAC markets return to green, taking cues from Wall Street peers.
  • Japan markets lead the rally in the APAC region.
  • New Zealand continues to remain in red.

The Asia Pacific (APAC) markets opened mostly in green on Friday, following the Wall Street rally overnight.

The Japanese shares were the biggest gainers in the region, with Nikkei225 up 2.3%, having wiped most of the losses it made in the Thursday’s plunge.

In Taiwan, the Taiwan Weighted Index surged by 1.27% during the day. On the other hand, Mainland China shares finally overcame the rising inflation fears, with Shanghai Composite up by 1.21%.

In the Chinese autonomous region of Hong Kong, the Hang Seng index rose by 64 basis points. However, the Hong Kong-listed shares of Chinese tech giant Alibaba crashed almost 5% after the e-commerce giant reported its first operating loss as a public company.

In Australia, the ASX200 was up 89 bps, as energy stocks pushed the index upwards. However, in the neighbouring New Zealand, the Dow Jones New Zealand continued to be in red – down 86 bps.

Meanwhile, after opening in red, Indian markets were trading flat, with 30-share BSE Sensex up just 11 bps. India continues to be the focal point for investors, as country has been reporting over 300,000 fresh COVID-19 cases every day for almost a month now.

Meanwhile, the Morgan Stanley Capital International Asia-Pacific index excluding Japan was down 1.85%.


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