Asia extends gains on positive economic outlook

2021-02-16 08:52:43 GMT (Economies.com)
Asia extends gains on positive economic outlook

Asian stock indices opened the second session of the week higher amid rising economic optimism and a quicker pace of Covid 19 vaccinations, while the US administration prepares a $1.9 trillion stimulus package. 

 

Bank of Australia released the minutes of its meeting, at which it maintained rates at record lows of 0.10%, with policymakers focusing on sustained monetary support for some time. 

 

RBA's policymakers don't expect raising rates until inflation reaches a sustainable 2-3%, most likely not before 2024. 

 

From Japan, the tertiary industrial index fell 0.4% in December, compared to a 0.6% drop in November. 

 

Japan's Nikkei 225 is trading above record 30,000 after piercing it yesterday for the first time since 1990, while TOPEX hit 1991 highs as energy, healthcare, and oil sectors spiked. 

 

Recent Japanese data showed slower growth in the last quarter but still beat estimates, bolstering hopes for a quick recovery in Japan. 

 

Otherwise, Australia's Victoria state is facing the spread of a new coronavirus strain, hitting economic output ion the area. 

 

Japan's TOPEX rose 0.89% to 1,971, while Nikkei 225 climbed 1.60% to 30,564. 

 

Hong Kong's Hang Seng rose 1.45% to 30,612, while South Korea's KOSPI climbed 0.21% to 3,153.

 

New Zealand's NZX 50 climbed 0.56% to 12,580, while Australia's S&P/ASX 200 added 0.24% to 6,885. 

 
 
 
  Symbol Last Change Chg.%
1.1911
-0.0143
1.1851%
1.3838
-0.0097
0.6972%
Tadawul
9242.28
-68.88
0.74%
25.247
-1.621
6.035%
66.283
4.812
7.828%
69.56
2.85
4.27%
1700.790
-39.040
2.244%
 
 
US
 
Europe
 
Asia