Back with a bang after a two-day gap, Japan shares lead APAC rally

2 min read | May 06, 2021 02:54 PM AEST | By Furquan Moharkan

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Back with a bang after a two-day gap, Japan shares lead APAC rally — Image source: Representative Image. © Thomaspajot | Megapixl.com

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Summary

Japan leads the rally in APAC markets

Taiwan, Korea, Thailand, India markets are also trading in green

All eyes are on US jobs data

Opening after a two-day holiday, the Japanese shares on Thursday surged even as investors kept their eyes peeled for US jobs report due this week to gauge how long the Federal Reserve (Fed) will stay on hold.

Japan’s Nikkei 225 was up by 185 basis points, compared to Monday’s close, making it the best performer in the Asia Pacific region.

Japan shares were followed by Taiwan, with Taiwan weighted index seeing an uptick of 77 bps. Thailand’s SET Index was up 38 bps, while Korean KOPSI surged 34 bps.

India’s BSE Sensex was up 41 bps in the pre-open trade, despite the country being ripped by the second wave of the COVID-19 pandemic.

Other than these countries, markets across the APAC region were in red.

The Mainland Chinese FTSE China A50 Index was the laggard in the region – down 118 bps.

On the other hand, Hong Kong’s Hang Seng Index was mostly flat – down 9 bps – despite opening in green.

Meanwhile, Australian benchmark ASX200 was down 46 bps as most sectoral indices were in red.

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