Japanese shares closed lower for a third straight session on Tuesday after the CEO of Moderna Pharmaceuticals told the Financial Times that current COVID-19 vaccines are likely to be much less effective against the new mutant Omicron than previous mutated strains. Japan’s Nikkei index fell 1.63 percent to 27,821.76 points, …
Read More »Market Drivers – Asian Session 29-11-2021
The market is still on guard at the opening of the week due to the corona mutant believed to be resistant to existing vaccines. Gold rose in Monday morning trading in Asia, with concerns about the impact of the vaccine-resistant COVID-19 omicron variant giving the safe-haven yellow metal a boost. …
Read More »Market Drivers – Asian Session 25-11-2021
There were no fresh moves for the majors during the Asian session. Fresh headlines are crossing the wires from the UAE official, via Reuters, citing that it is fully committed to OPEC and its allies (OPEC+) agreement. Gold futures rose 0.47% to $1,792.75, after falling to their lowest level since …
Read More »Market Drivers – Asian Session 24-11-2021
Japan’s Nikkei index fell at the end of trading on Wednesday, after shares of companies that are expected to achieve high growth suffered losses amid investors’ fears that the Federal Reserve may accelerate policy tightening to counter the rising inflation risks. The Nikkei index closed down 1.58 percent at 2,9302.66 …
Read More »Market Drivers – Asian Session 23-11-2021
The Manufacturing PMI in Eurozone’s economic powerhouse came in at 57.6 this month vs. 56.9 expected and 57.8 prior. The index hit fresh ten-month lows. Services PMI reached two-month highs of 53.4 in November as against 51.5 estimated and 52.4 previous. The Eurozone manufacturing sector activity improved more than expected …
Read More »Market Drivers – Asian Session 22-11-2021
Gold fell in Monday morning trading in Asia, but settled after hitting its lowest level in nearly two weeks. However, concerns about high numbers of COVID-19 cases in Europe helped limit some losses in gold. While gold futures were down 0.26% at $1,846.80 by 11:17 PM ET. The dollar, which …
Read More »Market Drivers – Asian Session 18-11-2021
The Nikkei index closed down 0.3% to 29,598.66 points but trimmed its losses significantly after the Japanese Nikkei newspaper reported that the country’s economic stimulus package would likely include fiscal spending of about 55.7 trillion yen ($488 billion). This exceeds market expectations of 30-40 trillion yen. The broader Topix index …
Read More »Market Drivers – Asian Session 16-11-2021
The Nikkei index rose 0.11 percent to 29,808.12 points, while the broader Topix index also rose 0.11 percent to 2,050.83 points. During the session, investors watched a meeting between US President Joe Biden and Chinese President Xi Jinping. The Japanese indices rose after Chinese state media published a report that …
Read More »Market Drivers – Asian Session 15-11-2021
Calm dominated the Asian session. Data released by the National Statistics Authority on Monday showed a 4.9 percent year-on-year increase in China’s retail sales of consumer goods in October. The total value of retail consumer goods sales in the country reached about 4.05 trillion yuan (about 633 billion US dollars) …
Read More »Market Drivers – Asian Session 11-11-2021
Japanese stocks closed higher on Thursday as investors were selective and picked undervalued stocks compared to their latest expectations, while concerns about rising costs weighed on buying. The Nikkei average rose 0.59 percent to 29,277.86 points, after losing 0.2 percent earlier in the session, affected by the decline in US …
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