Asian equities mixed following US stimulus bill, gains taking

Asian stocks traded mixed on Monday, while some indices were boosted by hopes of a gradual global recovery after the US economic aid package was approved by the Senate over the weekend.

Japan’s benchmark Nikkei 225 traded 0.2% higher at 28,926.03 in early trade. Australia’s S&P/ASX 200 jumped nearly 1.0% to 6,776.00, while South Korea’s Kospi lost 0.2% to 3,020.40. Hong Kong’s Hang Seng fell 1.2% to 3,020.40, while the Shanghai Composite fell 0.5% to 3,483.92.

Although shares mostly rose initially, some benchmarks fell as players sold off to lock in profits.

Recommended

“Asian markets had started firmer at the beginning of the week by sharing in optimism about the progress of the passage of the US fiscal stimulus package,” said Jingyi Pan, market strategist for IG in Singapore.

Smaller company stocks outgained the broader market, as they have all year. The Russell 2000 index picked up 2.1%, to 2,192.21.

A U.S. government report Friday showed employers added hundreds of thousands more jobs last month than economists expected and was an encouraging sign for the economy. But it also helped lift Treasury yields, adding to worries that rising inflation might end a spell of ultralow interest rates.

Rising oil prices are a part of that picture. After plunging with the onset of the pandemic, as demand plummeted, prices have been recovering in the past few months.

The devastating winter freeze that hit Texas and other parts of the southern United States last month knocked out production of roughly 4 million barrels per day of U.S. oil and prices climbed above $60 a barrel.

Last week, with oil prices rising, some observers were expecting the OPEC cartel and its allies to lift more restrictions and let the oil flow more freely. But OPEC agreed to leave most restrictions in place, despite growing demand.

Benchmark U.S. crude rose $1.42, or 2.2%, to $67.51 a barrel in electronic trading Monday on the New York Mercantile Exchange. It jumped $2.26 to $66.09 per barrel on Friday.

Brent crude, the international standard, gained $1.48 to $70.84 a barrel.

In currency trading, the U.S. dollar inched up to 108.39 Japanese yen from 108.34 yen. The euro cost $1.1902, down from $1.1919.

Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News

Latest Headlines

Show all
Trending News
Popular By week

Show next

Best 10 Guide by Compsmag

Best Cameras Under $100 April 15, 2021
Whether you are tied up for cash, or just for a bargain compact to take as a spare, there are plenty of options available from big names. Our list of Best Cameras Under $100 are perfect choices for children who also want their first “right” camera. And with some models with WiFi for easy sharing and printing, these […]
Mayank Bhardwaj
Best Home Blood Pressure Monitors April 14, 2021
Are you looking for the Best Home Blood Pressure Monitors of 2021? Your heart is an engine that powers your pump system. It works tirelessly for you and your blood moves to your muscles, organs, and all other parts of your body that require continual energy and oxygen. The power created by the movement of […]
Mohit
Best Smartphones Under $400 April 14, 2021
If you are in the market to buy a new best smartphones under $400 but want to get something more beautiful than a midrange flagship handset, here are some excellent options under $400 these days. As technology advances and smartphones get more powerful, their ability to do more has increased. Since there are many more […]
Mayank Bhardwaj
Best Smartphone Gimbals of 2021 April 14, 2021
Are you looking for the Best Smartphone Gimbals of 2021? In recent years, smartphone cameras have improved a lot. We now have smartphones equipped with 13 or even 20-megapixel cameras that can take amazing pictures. Camera sensors have improved for better photo quality, as has video fidelity. There are also smartphones capable of recording in […]
Mohit
Best Racing Wheels in 2021 April 14, 2021
Unless you’re a billionaire, The Best racing wheels are the cheapest, easiest way to drive a luxury sports car, classic roadster, ATV, or a four-wheeled vehicle that you can think of. No matter what racing game you play, a great racing wheel can give you the feeling of actually sitting on the driver’s seat of […]
Mayank Bhardwaj
Best Gaming Mouse Under $50 April 14, 2021
Are you looking for the Best Gaming Mouse Under $50 of 2021? Not all computer mice are designed the same way, and if you are a player, be sure to choose a dedicated gaming mouse. In the gaming world, where every single second counts, specialized mouse offer increased sensitivity, reduced data entry delay, and the […]
Mohit
Best Home Security Cameras April 14, 2021
Home security cameras and systems offer an extra layer of protection for your home and can serve as excellent preventive measures against burglary. But choosing the Best Home Security Cameras can be a little tricky with all the endless features and technical specifications to choose from. I have researched and reviewed dozens of security cameras to […]
Mayank Bhardwaj
Best Smartphones Under 30000 April 14, 2021
Are you looking for the Best Smartphones Under 30000 of 2021? At Rs. 30,000, you can today get smartphones that are almost the flagship class. These phones offer The Best material available to date, as well as great cameras and high-end design. This means that you will buy premium smartphones. The 30,000 category offers many […]
Mohit
Best Graphic Novels Of All Time April 14, 2021
Are you looking for the Best Graphic Novels of 2021? A comic book is a computerized drawing included with the text, a speech bubble, or quotes to show an opinion. A graphic novel is a book made up of comic book content. The content can show different points of view, love, hate, war, and politics. […]
Mohit
Best Protein Powders For Women In India April 14, 2021
Are you looking for the Best Protein Powders For Women In India? It’s time to change the conversation about fitness. We must stop worrying about losing weight and start worrying about developing our muscles. Even though (especially if) weight loss is your goal, muscle is what will take you there. And these are the proteins […]
Mohit

Asian equities mixed following US stimulus bill, gains taking

For Latest News Follow us on Google News

Financial services optimism recovers at the fastest pace in eight years

Cheyenne-Laramie County Health Department pivots Pfizer vaccine for Friday clinic | Coronavirus

Amazon, Target and Netflix among companies that sign letter opposing voting restrictions

Ballad Health: 107 patients with COVID-19 hospitalized, 27 in the ICU | News

CorMedix Has Meeting With FDA on DefenCath Catheter Lock Solution NDA Nasdaq:CRMD

RateGenius Releases April 2021 Average Auto Refinance Rate Report

The owner of Pizzeria Appleton’s Muncheez dodged his business, allegations of federal prosecution

Update: Casal Mesa recovers money with rent scam | 3 on your side

Churches in the area collaborate with Sioux City NAACP, Department of Health, Siouxland District to host vaccine clinic

Big companies say they want a price for carbon

Public health orders across the state extended another two weeks | Coronavirus

Siege Survival offers a frightening civilian perspective on Total War

‘Life Has To Go On’ – NewsDenver

Colorado health expert addresses growing fears about Johnson & Johnson vaccine – Denver news

Local municipalities can receive financial aid for winter storm damage

Caption Health announces Steve Cashman as new President and CEO

Read the latest CNN News interview with Madoff

AAFA Celebrates Massive Health Policy Change; Lawmakers Pass FASTER Act Making Sesame A Major Food Allergen

Blaze Pizza appoints Brad Reynolds as chief financial officer

Opinion | Why is the GOP waging a cultural war? Follow the money.

Best 10 Guide by Compsmag

Popular Blog and Tutorial Tips