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Market Drivers – Asian Session 26-10-2021

The trading session was quiet for most of the Asian session. The Nikkei average rose on Tuesday, boosted by optimism about corporate business results, and after overnight gains in US stocks pushed the Dow Jones Industrial Average and S&P 500 indexes to record levels.

The Nikkei closed up 1.8 percent to 29106.01 points, after rising at the open and retaining its gains.

The broader TOPIX index rose 1.2 percent to 2013.73 points.

Gold prices fell on Tuesday, dragged down by the rise of the dollar and bond yields, as investors awaited the reaction of central banks to escalating inflation pressures ahead of important meetings coming in days.

Spot transactions fell 0.1 percent to $ 1805.06 an ounce by 0607 GMT. US gold futures were unchanged at $1806.00.

Oil prices lost some momentum, reaching $85 a barrel for US crude in futures contracts for December delivery, and about $86.5 for Brent crude, to drop the same contracts to $83.95 for US crude, and $86.05 for Brent crude in the last hours of trading.

After staging a correction toward $60,000, Bitcoin started to edge higher on reports claiming that Mastercard is looking to offer crypto services to banks and merchants in its network.

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