Asian shares advance on patchy Wall St. session
Asian share markets gained cautiously on Wednesday. The series of earnings followed after Wall Street’s strong session, with optimism about the global economy also supporting investors’ risk appetite. However, worries about the sustainability of a recent risk rally might restrict shares from advancing further.
Australian shares jumped, with the S&P/ASX 200 gaining 0.5%. E-mini futures for the S&P 500 recorded a 0.14% increase, while Japan’s Nikkei dropped 0.31%.
Bitcoin tallied a 0.1% drop, completely easing from its record peak touched last Monday. The cryptocurrency was on course for its $50,000 mark, but then traded flatly at $48,216.
There was a slowdown in the global market rally right before the earnings. This was mainly from investors’ move of assessing how much stimulus pending, easy money, and vaccinations are necessary to support stocks, oil, and inflation.