AUS
NZ
UK
CA
USA
IND
The equity markets across the Asia-Pacific (APAC) region, with exception of Japan and Australia, were trading in the red.
The negative sentiment in the markets crept as investors awaited the release of a closely watched US jobs report. The private survey by payroll processing firm ADP showed a gain of 330,000 jobs for July, almost half of the consensus estimates of 653,000. The official numbers by the US Labour Department are expected to be in sync with the private survey – a data set that has spooked investors.
Unlike in the APAC region, on Wall Street, markets ended up with gains overnight: the Dow Jones Industrial Average surged 271.58 points to 35,064.25 while the S&P 500 gained 0.6% to 4,429.10. The Nasdaq Composite, on the other hand, gained 0.78% to 14,895.12.
In the APAC region, Morgan Stanley Capital International’s broadest index of Asia-Pacific shares outside Japan traded 0.66% lower.
This is how the APAC markets are doing right now:
Australia: Australian shares, though muted, were trading tad towards the greenish zone. The benchmark ASX200 initially was trading near the flatline – up 0.04%. However, in last half of the trade, the index witnessed buying, and closed with the gain of 0.36%. The gains in tech and energy shares were offset by drag in the material and telecom scrips. The concerns over rising COVID-19 cases and renewed fear over interest rate hike, after the Reserve Bank of Australia’s hawkish stance, kept investors away from the markets.
India: In India, both the benchmarks – NSE Nifty and BSE Sensex – were trading near the flatline: down by 0.09% and 0.16%, respectively. The markets seemed unmoved after the country’s central bank – Reserve Bank of India (RBI) – maintained status quo on the monetary policy. The central bank sounded dovish in its tone, as it kept the status of monetary policy as accommodative.
Japan: The Japanese markets continued their run in the green – with the benchmark index Nikkei 225 rising 0.26%. The Japanese markets seem to be unfazed by global events – with Nikkei 225 up 1.12% in past five days – which have otherwise been a volatile time for APAC markets.
China: The Chinese benchmark pared a portion of their morning losses as the Shanghai Composite was trading 0.31% lower, while the Shenzhen Component was trading 0.38% lower.
