Muted opening for APAC markets amid mixed global cues

Summary

  • Mixed opening for APAC markets; as global cues hint towards different directions
  • ASX200 marginally down; MSCI-APAC up by 40 bps
  • Investors are bullish on US macro numbers, bearish on India’s COVID-19 situation

The equity markets in the Asia Pacific (APAC) region witnessed a muted opening for the week on Monday morning, due to mixed global cues.

Most of the APAC markets, except for Australia, New Zealand, and Indonesia, were trading marginally higher at the time of filing this copy.

Japan’s Nikkei 225 was up 29 basis points, while South Korea’s KOPSI was trading 58 bps higher.

On the other hand, Mainland China’s Shanghai composite was up 56 bps, while Hong Kong’s Hang Seng index was up 20 bps.

The Australian ASX200 was, however, trading marginally lower – with a loss of 7 bps.

Meanwhile, the broadest index of Morgan Stanley Capital International (MSCI) – MSCI APAC – was trading up 40 bps. The MSCI APAC, however, does not include the Japanese shares.

Also Read: Wall Street guarded ahead of action-packed week

Also Read: Markets next week: Key things to watch out for

Even as the markets are expecting the US to announce blockbuster macro numbers, yet the concerns are pouring in from India, which is seeing second wave of COVID-19 turning into a tsunami, with more than 300,000 daily cases being reported for the past four days now. Despite this, the early numbers show that Indian market will open in green on Monday, as SGX Nifty – the futures of Nifty 50 traded in Singapore – was up 123 bps.

Also Read: World sees 5.7 million cases in a week as COVID-19 wreaks mayhem

The US dollar, meanwhile, was on a weaker side. The US dollar index, which tracks the greenback against a basket of six other currencies (Euro, Swiss Franc, Japanese Yen, Canadian dollar, British pound, and Swedish Krona), was down to 90.761.


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

   

Kalkine

Rated 4.3/5 based on 904 Reviews at Google My Business