Asia-Pacific indices are mixed as Delta variant instances rise and the dollar recovers.
The US NFP data remained at 15-month highs, but inflation fears were calmed as the data was not strong enough to justify the Fed’s likely tapering actions.
The demand for riskier investments is boosted by lower US Treasury yields.
As market mood fluctuates between highs and lows, Asian markets start the new trading day higher on a mixed note. Investors’ risk appetites strengthened as US job data improved. Inflation fears subsided as markets concluded that the data was insufficient to change the Fed’s existing monetary policy stance.
Outside of Japan, MSCI’s broadest index of Asia-Pacific stocks rose 0.3 percent. Because US markets will be closed for Independence Day, Asain shares will be traded in a thin market.
The Nikkei 225 index in Japan declined 0.5 percent as the number of coronavirus illnesses in Tokyo soared only weeks before the Olympics began.
The Kospi increased by 0.04 percent, while the S&P ASX200 increased by 0.16 percent.
The Hang Seng Index in Hong Kong fell 0.45%, while the Shanghai Composite gained 0.25%.
After Wall Street hit a new high on Friday, investors hailed a solid job market data, US futures are edging lower.
In the Asian trading session, oil prices fell as the United Arab Emirates pushed back against a plan by OPEC and its members to prolong the global accord to curb oil production beyond April 2022.
Aside from that, mounting COVID-19 cases are affecting sentiment in the Asia-Pacific stock market. Thailand and Indonesia have reported new cases at an all-time high, according to the latest reports.
The dollar bounces back from earlier lows to trade at 92.34, down 0.11 percent on the day./n
