Asian Markets Mixed Amid COVID-19 Resurgence
CANBERA (dpa-AFX) - Asian stock markets are trading mixed on Friday, following the broadly negative cues overnight from Wall Street on downbeat US labor data and continued slump in U.S. treasury yields. Traders remain concerns about the outlook for the global economy amid considerable weakness in most markets due to the fresh wave of the highly infectious coronavirus variant. Asian markets ended mostly lower on Thursday.
Australian stock market is sharply lower on Friday, after gains in the previous two sessions, with the benchmark S&P/ASX 200 just falling below the 7,300 level, following the broadly negative cues overnight from Wall Street, as financial and technology stocks are taking a beating. Traders also remain concerned amid the rapid spread of highly contagious coronavirus variants is Sydney, with residents bracing for a fresh spike of COVID cases. New South Wales recorded 44 new COVID cases.
Asian Markets Mostly Higher
CANBERA (dpa-AFX) - Asian stock markets are trading mostly higher on Friday, following the broadly positive cues overnight from Wall Street on prospects of a strong global economic recovery after data showed improvement in manufacturing and jobless claims in the US. However, the surge in the delta variant of the coronavirus cases and travel curbs in several countries are capping the gains. Asian markets ended mostly lower on Thursday.
Australian stock market is modestly higher on Friday, recouping some of the losses of the previous session, with the benchmark S&P/ASX 200 just below the 7,300 level, following the broadly positive cues overnight from Wall Street. Investors are also optimistic as restrictions were slightly eased following several outbreaks of the coronavirus Delta variant across the country.
Japanese Market Modestly Higher
TOKYO (dpa-AFX) - The Japanese stock market is modestly higher on Friday, snapping four straight sessions of losses, with the benchmark Nikkei 225 above the 28,800 level, following the broadly positive cues overnight from Wall Street. Traders are upbeat following the prospects of a strong global economic recovery after data showed improvement in manufacturing and jobless claims in the US.
However, the signs of a resurgence in the spread of the highly infectious Delta variant of COVID-19 and the news of another impending State of Emergency in Tokyo and other major areas are capping the gains.
The benchmark Nikkei 225 Index is gaining 96.65 points or 0.34 percent to 28,803.69, after touching a high of 28,849.32 earlier. Japanese shares closed modestly lower on Thursday.
Jun 28, 2021
Suzuki Motor Corp. has warned that the supply of semiconductors and batteries may be tight into the foreseeable future as automakers shift toward electric vehicles, and is planning to increase its stockpiles as a result. We will be using many batteries and various chips, more rapidly,” Osamu Honda, Suzuki’s representative director, said at a shareholder meeting on Friday. We expect chips, batteries and others to always be in tight supply in that case.”
A global shortage of chips sparked by a range of factors including the coronavirus pandemic, a factory fire in Japan and frigid weather in the U.S. has limited production of everything from cars to game consoles and sent governments scrambling to bolster domestic supply.
Suzuki Motor Warns Chips, Battery Supply Will Remain Tight bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.