- APAC Markets witness mixed opening.
- Japan, China, Thailand markets are closed today on account of respective national holidays.
- All eyes are on interest rate decision by Australian RBA.
- Investors continue to closely watch the COVID-19 situation in India.
The Asia-Pacific markets were showing mixed trends on Tuesday, even as three major markets – China, Japan, and Thailand – are closed on account of respective national holidays.
South Korea’s KOSPI was down 14 basis points despite opening in the black.
On the other hand, Australian ASX200 was up 18 bps ahead of the much awaited monetary policy announcement by the Reserve Bank of Australia (RBA). The country would also be announcing its trade numbers for the month of March 2021.
The Dow Jones New Zealand, in the neighbouring country, was up 13 bps.
So far, the PSEi Composite Index of Philippines has been the biggest gainer in APAC region with gains of 42 bps, followed by Jakarta Stock Exchange Composite Index (24 bps).
Meanwhile, investors continue to be mindful of the COVID-19 situation in India – where daily fresh infections have for three consecutive days now. Despite this, the daily numbers coming from India are way higher than the peak daily numbers of the US – the worst-hit country from the global pandemic. Of every two cases reported globally, one is an Indian citizen, as the healthcare system in the country lies in shambles. The equity markets in the country are likely to open in red, as futures of Nifty50 are trading 18 bps down in Singapore.
On the other hand, three major markets in Asia are closed on Tuesday – China on account of Labour Day, Japan owing to Greenery Day and Thailand because of King Vajiralongkorn's Coronation Day.