Asian stocks rise, boosted by US earnings

22.07.2021 - Evdokimov Roman
Asian stocks rise, boosted by US earnings

Asia Pacific stocks rose on Thursday morning, riding the impetus brought by positive US company earnings that alleviated worries about the global economic recovery from the COVID-19 pandemic.

South Korea’s KOSPI went up 0.97% by 10:23 PM ET (2:23 AM GMT). Meanwhile, Hong Kong’s Hang Seng climbed up 1.74% as China’s Shanghai Composite and Shenzhen Component rose 0.17% and 0.18%, respectively.

Japanese markets, however, were closed for a holiday, a day before the Tokyo Olympic Games’ opening ceremony on Friday.

In Australia, the ASX 200 gained 0.93% as Queensland shut its border with New South Wales to prevent the spread of Sydney’s COVID-19 outbreak. The National Australia Bank (NAB) Quarterly Business Confidence index also showed a lower-than-expected 17.

Going over to the US, benchmark 10-year US Treasury yields inched nearer the 1.3% mark, with the approaching conclusion of a recent bond rally and a poor auction of 20-year debt.

In related news, Jerome Powell will likely be staying for a second term as Fed Chairman, despite the decision not being due until later in the year.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?