Asian stocks mix, European stock rise

Publish April 7, 2021
finance & economy

Asian stocks mixed on Tuesday following a rally in Wall Street that indicated optimism for the economic recovery.

Japan's benchmark Nikkei 225 lost early gains and fell 1.3% to finish at 29,696.63.

Australia's S&P/ASX 200 was up 0.8% at 6,885.90. South Korea's Kospi edged up 0.2% to 3,126.72. The Shanghai Composite inched up less than 0.1% to 3,486.22. Hong Kong trading was closed for Easter.

In Japan, Yoshimasa Maruyama, chief market economist at SMBC Nikko, said there has been a gradual recovery in the Japanese economy recently.

He said a rebound was marked in electronics because of households consuming electronics goods, as the pandemic had squelched people's spending on services.

Meanwhile, Japanese medical experts are warning the public to get ready for a “fourth wave” of COVID-19.

European stocks

European stocks surge on Tuesday after the long Easter holiday weekend.

London's benchmark FTSE 100 index rallied 1.1 per cent to 6,810.47 points, Frankfurt's DAX 30 index won 0.8 per cent to 15,223.24 points and the Paris CAC 40 advanced 0.4 per cent to 6,129.53, compared with last Thursday's closing levels.

Investor analyst Richard Hunter said, 'today is the first chance for European markets to react to this fresh wave of optimism after an extended weekend, and indeed to the possibility that global economies will be lifted by a recovery which is expected to be led by the US in the first instance.'

gulftoday

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