Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Indian Morning Briefing : Asian Markets Rise, Tracking Wall Street Gains

12/07/2021 | 10:16pm EST
DJIA           35719.43    492.40     1.40% 
Nasdaq         15686.92    461.76     3.03% 
S&P 500         4686.75     95.08     2.07% 
FTSE 100        7339.90    107.62     1.49% 
Nikkei Stock   28769.33    313.73     1.10% 
Hang Seng      23951.83    -31.83    -0.13% 
Kospi           3021.29     29.57     0.99% 
SGX Nifty*     17323.00    112.0      0.65% 
*Dec contract 
USD/JPY  113.53-54     -0.03% 
Range    113.63   113.36 
EUR/USD  1.1289-92     +0.20% 
Range    1.1292   1.1266 
CBOT Wheat Dec   $7.992 per bushel 
Spot Gold  $1,786.02/oz    0.1% 
Nymex Crude (NY) $71.41      $1.92 

U.S. stock indexes rose sharply on hopes that Omicron would prove less damaging to the economy than feared.

The S&P 500 gained 2.1%, building on Monday's gains and recouping all its losses from last week. The tech-focused Nasdaq Composite Index jumped 3%, while the Dow Jones Industrial Average rose 1.4%.

Hopes that the new Covid-19 strain will have a less-pronounced impact on travel and consumer confidence have bolstered stocks this week. Scientists and vaccine makers are still assessing the severity of Omicron and how well existing vaccines may work against it.


Japanese stocks were higher in morning trade, led by gains in electronics as concerns about the Omicron variant ebb, for now. Investors are focusing on any developments over the emerging Covid-19 variant as well as diplomatic tensions between China and the West ahead of the Beijing Winter Olympics. The Nikkei Stock Average was recently up 0.8% at 28676.77.

South Korea's Kospi was 0.9% higher at 3017.44 in early trade, tracking Wall Street's gains overnight on receding fears about the Omicron variant of Covid-19. Electronics, battery and biotech stocks led gains. The won's strength against the greenback and foreign investors' net buying of local stocks also supported sentiment.

Hong Kong shares were slightly higher as the market continued to pick up following days of losses. The benchmark Hang Seng Index was up 0.1% at 24005.64. It closed 2.7% higher on Tuesday. Property developers led the morning's gains, as investor concerns over the sector's liquidity eased after Beijing's move to cut its reserve requirement ratio by 50 basis points on Monday. Sentiment was being further supported by the Chinese government's comments that it will support the real-estate industry's healthy development, KGI Securities said. Tech stocks also rebounded, following gains in the U.S. market overnight.

Chinese stocks were broadly higher in early trade. The Shanghai Composite Index was flat at 3595.63, the Shenzhen Composite Index gained 0.2% to 2483.38, while the ChiNext Price Index rose 0.8% to 3394.44. Liquor stocks were among the best performers on improved sentiment, following data that showed China's exports beat expectations in November. Attention will likely be focused on the looming Evergrande fallout and measures the Chinese government may take to contain the effects, OCBC said.


USD/JPY may be supported for now by gains in the stock markets and easing of concerns about the Omicron variant. Strong U.S. economic data are likely to increase expectations for the Fed's faster shift to policy tightening, leading to the pair's further advance. U.S. weekly jobless claims due Thursday and consumer-price index figures on Friday are in focus ahead of Fed's policy meeting next week. USD/JPY was recently at 113.50, compared with 113.57 as of Tuesday 5 p.m. Eastern Time.


Gold was slightly higher, as investors continued to weigh current geopolitical tensions against easing concerns over the Omicron variant, ANZ said. Gold may be pressured in the near term. Rising expectations that the U.S. Fed could reduce its asset purchases at a faster pace and raise interest rates in the next year amid signs of higher inflation could make the precious metal more expensive for holders of other currencies, ICICI Securities said. Spot gold was 0.1% higher at $1,786.02/oz.


Oil was mixed in early Asian trade after rising overnight on eased concerns over the Covid-19 Omicron variant. Oil may be supported by some near-term positive sentiment, thanks to signs of stronger demand, ANZ said. China's oil imports rose to a three-month high in November, as new quotas for refiners were allocated, it noted. The country is one of the world's largest importers of oil. Front-month WTI crude was flat at $72.09/bbl, while Brent was 0.1% higher at $75.49/bbl.

U.S. Stocks Close Higher, Oil Gains on Omicron Optimism 
Japan's Economy Shrank More Than Estimated in Third Quarter 
Early Lab Test Shows Omicron Weakening Vaccine Effectiveness 
House Votes to Approve Bill Setting Up Process for Lifting Debt Limit 
House Votes 363-70 to Approve $778 Billion Defense Bill 
EPA Trims Ethanol Mandate for Gasoline as Biofuel Pressures Pump Prices 
Biden Warns Putin Invasion of Ukraine to Be Met With Economic Response and More 
Australia to Stage Diplomatic Boycott of 2022 Winter Olympics in Beijing 
Blinken Calls China, Russia Efforts to Disrupt Global Order Serious Mistakes 
China Aims to 'Revise the Global Rule Set,' Top U.S. General Says 
Supply-Chain Problems Will Last Through 2023, Intel Chief Says 
Facebook Parent to Allow Employees to Delay Return to Offices 
BlackRock to Pull $2 Trillion in Assets From State Street 
Wynn Names Gambling-Industry Executive as CFO 
Facebook's Head of Messenger to Leave Company Next Year 
Amazon Emerges as the Wage-and-Benefits Setter for Low-Skilled Workers Across Industries 
'The List,' One of the World's Oldest Business Newspapers, Is for Sale 
Citigroup's Jane Fraser Expects to Shed Some Clients for Climate Purposes 
Kellogg Workers Stay on Strike After Rejecting Tentative Agreement 
Intel CEO Aims to Capitalize on Increased Car Automation With Mobileye IPO 
Amazon Web Services Outage Takes Businesses, Services Offline 
Weibo Shares Fall in Hong Kong Trading Debut 

(END) Dow Jones Newswires

12-07-21 2215ET

Latest news "Economy & Forex"
05:46pReport into PM Johnson lockdown party allegations expected soon
05:46pReport into PM Johnson lockdown party allegations expected soon
05:43pNew York state mask mandate back in effect as judge grants stay in appeal
05:43pDogecoin Gained 3.16% to $0.142 at 5 p.m. ET -- Data Talk
05:43pEthereum Lost 1.17% to $2414.06 at 5 p.m. ET -- Data Talk
05:43pBitcoin Lost 0.60% to $36631.64 at 5 p.m. ET -- Data Talk
05:42pBoeing nears Qatar freighter deal ahead of emir visit -sources
05:39pGoogle cannot escape location privacy lawsuit in Arizona, judge rules
05:37pBank of America to give employees stock awards -memo
05:33pThe WSJ Dollar Index Rises 0.03% to 89.74 -- Data Talk
Latest news "Economy & Forex"