Asian stock markets are tracking Wall Street growth

On ASIAN stock exchanges, stock prices rose, as on Wall Street the day before, but trading is uncertain due to vague messages from the White House about the trade agreement between the US and China.

The MSCI Asia-Pacific stock index, excluding Japanese, was up 0.6 percent at about 7 p.m.

At the Tokyo Stock Exchange, the Nikkei index strengthened 0.9 percent, while stock prices in Australia, Shanghai, Singapore, South Korea and Hong Kong rose between 0.1 and 0.9 percent.

At the very beginning of trading, these indices were in the red because investors were concerned about the answers of Peter Navarro, a White House adviser, in an interview with Fox News, which led to the conclusion that there are problems with the implementation of the trade agreement between the US and China.

But later, Navarro said his statements were taken out of context, and U.S. President Donald Trump intervened, saying the trade deal was in effect.

As a result, markets have recovered, following yesterday’s growth on Wall Street, where the Dow Jones and S&P 500 index rose about 0.6 percent, while the Nasdaq index reached a new high in history, thanks to a significant rise in stock prices in technology. sector.

This was supported by other US indices, although there is concern in the markets about the growing number of newly infected with coronavirus in some US states and countries around the world.

A dozen states in the southern and southeastern U.S. reported record growth in new infections, with some infecting between 10 and 20 percent of those tested.

More than 30,000 new infections were reported in the U.S. on Friday and Saturday, their biggest daily growth since early May.

The number of those infected is growing in other countries as well, so on Sunday the World Health Organization (WHO) reported a record increase in coronavirus cases worldwide.

Despite this, Larry Kudlow, a White House economic adviser, said there was no second wave of the pandemic and that a new wider closure of activities in the U.S. was unlikely.

The market was also supported by the hope of investors in new incentive measures, given that at the end of last week the Democratic Party presented in the House of Representatives a bill on infrastructure investments worth 1,500 billion dollars.

President Donald Trump’s government is preparing its infrastructure investment plan, and Trump said he supports the idea of ​​a second round of providing financial assistance to Americans due to the effects of the coronavirus.

Due to the coronavirus pandemic, world stock markets fell to their lowest levels in several years in mid-March. But thanks to huge fiscal and monetary stimulus measures, governments around the world made up for much of their previous losses from late March to mid-June.

The dollar weakened for the second day in a row

And after strengthening last week, the dollar weakened against a basket of currencies in currency markets for the second day in a row.

Its index, which tracks the movement of the US against the six most important world currencies, is hovering around 97.05 points this morning, while yesterday at this time it was 97.53 points.

The exchange rate of the American against the Japanese currency rose from yesterday’s 106.90 to 107.20 yen.

But the US currency weakened against the European currency, so the price of the euro reached 1.1260 dollars, while yesterday at this time it was 1.125 dollars.

Oil prices, on the other hand, fell slightly after yesterday’s rise. In the US market, the price of a barrel fell 0.4 percent this morning to $ 40.55, while in the London market the barrel fell 0.15 percent to $ 43.01.

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