(RTTNews) – Asian stocks ended up combined Tuesday despite a wave of positive news, ranging from the hope of additional fiscal stimulus in the United States to the launch of trials of state-of-the-art experimental vaccines opposed to Covid-19.
While U.S. weakness caused a rebalancing of asset portfolios around the world, profits were eased by rising tensions between the U.S. And China and the biggest Covid-19 infections from China to Spain and Germany.
Chinese actions rose to the rise of economic recovery in the world’s second-largest economy. The Shanghai Composite benchmark rose 22.73 points, or 0.71%, to 3,227.96. Hong Kong’s Hang Seng index finished 0.69% to 24,772.76.
Japanese stocks ended up a decline amid reports that Nissan Motor plans to withhold its money and will pay a dividend for the existing fiscal year. Nikkei’s average fell 58.47 points, or 0.26%, to 22,657.38, while Nissan Motor shares fell 4.3%. Topix’s broadest index closed a decrease from 0.48% to 1,569.12.
On the other hand, Daiichi Sankyo’s shares increased 10.3% after AstraZeneca committed to pay $6 billion for a cancer drug that the company is developing.
Australian markets abandoned initial profits and ended down. Coronavirus is a “tragedy” and peak development in some cases can only lead to more deaths in the coming days, Australia Deputy Medical Director Michael Kidd said.
The S-P/ASX benchmark rate two hundred fell 23.70 points, or 0.39%, to 6,020.50, while the wider All Ordinaries index ended with 22.80 points, or 0.37%, to 6,146.80.
Mining heavyweights BHP and Rio Tinto rose 1.7% and 1.2% respectively, while smaller rival Fortescue Metals Group rose 3.2%.
AngloGold Ashanti surged 7.6 percent after forecasting higher first-half earnings.
Westpac lost 1.5%. The lender said it had data from Australia’s money crime control body, AUSTRAC, on more than 500,000 additional transactions similar to a money laundering and child exploitation scandal. The other 3 banks fell between 0.3% and 0.9%.
The Temple-Webster Group online furniture store rose 5.8% after reporting an accumulation of more than five times its annual earnings before interest, taxes, depreciation and amortization.
Seoul’s shares were recovered thanks to large foreign purchases as a component of stimulus efforts in the United States and Europe. Investor sentiment was reinforced through a sharp decline in the number of new instances of viruses in South Korea and reports that several Covid-19 vaccines have entered final clinical trials.
Market bellwether Samsung Electronics soared 5.4 percent on expectations that the company will benefit from renewed tensions between the U.S. and China. Leading steelmaker POSCO added 3.1 percent.
New Zealand shares reversed the initial gains to end the day downwards, ending the losses for the fifth straight session. The NZX-50 benchmark slid 7.35 emissions to 11,578.27 from 11,687.13 the previous day.
U.S. stocks rose overnight after knowledge showed that orders for durable goods in the United States increased more than expected in June, and Treasury Secretary Steven Mnuchin said Republicans had finalized their new coronavirus relief legislation.
The Dow Jones Industrial Average rose 0.4% and S.P.500 0.7% rose, while the high-tech Nasdaq Composite index increased by 1.7%.