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Asian Markets Show Gains

By MarketPulse (Kenny Fisher)Stock MarketsMay 25, 2021 05:44AM ET

www.investing.com/analysis/asian-markets-show-gains-200582169

By MarketPulse (Kenny Fisher) | May 25, 2021 05:44AM ET

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Asian equities leap higher following Wall Street

The buy-everything trade is in full swing in Asia today after Wall Street decided yesterday that inflation wasn’t a concern and the positive sentiment gave a boost to US equities. The S&P 500 climbed 0.99%, with the tech-heavy NASDAQ leading the way with a gain of 1.41% and the Dow Jones rising 0.56%. Futures on all three have continued 0.20% higher in Asia.

The Nikkei 225 has climbed 0.55%, with the KOSPI moving 0.70% higher, but China stocks are leading the charge higher. The Shanghai Composite has leapt 1.60% higher while the CSI has charged 2.0% higher, with Hong Kong rising 1.30%. A few factors appear to have woken China markets from their recent slumber. A bullish report on China equities from Morgan Stanley (NYSE:MS), rumours that the PBOC is buying USD/CNY at 6.4000, capping yuan strength, and another China official body reiterating they will address “abnormal fluctuations” in commodities.

The picture is equally green across the rest of Asia. Singapore is 0.50% higher, Bangkok 0.85%, Manila 0.60%, with Taiwan rallying 1.0%, trailing Jakarta, which has leapt 1.20%. Only Kuala Lumpur is trailing, flat on the day as the economic fallout of its new wave of Covid-19 dampens its recovery outlook. Australian markets are ignoring new Covid-19 community cases in Victoria, with both the ASX 200 and All Ordinaries rising by 0.60%. With markets content to hitch their wagons to Wall Street now, Europe’s return from vacation should see bourses there open higher this afternoon.

If nothing else, the buy everything rally, which is spilling into Asian markets, naturally, highlights just how much money is waiting on the sidelines in a zero per cent world to buy any dip. As I mentioned yesterday, Wall Street’s mood swings are a complete turkey shoot at the moment, and I will wait to see if today becomes a “let’s get worried about inflation again” session, or not.

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US 30	33,862.1	-50.3	-0.15%
US 500	4,288.5	-8.6	-0.20%
Dow Jones	33,912.44	+151.39	+0.45%
S&P 500	4,297.14	+16.99	+0.40%
Nasdaq	13,128.05	+80.87	+0.62%
S&P 500 VIX	20.07	+0.12	+0.60%
Dollar Index	106.705	+0.272	+0.26%

Crude Oil WTI	88.86	-0.55	-0.62%
Brent Oil	94.15	-0.95	-1.00%
Natural Gas	8.953	+0.225	+2.58%
Gold	1,790.10	-8.00	-0.44%
Silver	20.012	-0.260	-1.28%
Copper	3.6182	+0.0007	+0.02%
US Soybeans	1,399.00	-13.00	-0.92%

SPDR S&P 500	428.86	+1.76	+0.41%
iShares Russell 2000	201.07	+0.71	+0.35%
Invesco QQQ Trust	333.06	+2.67	+0.81%
Direxion Daily Junior Gold Miners Bull 2X Shares	36.08	-1.78	-4.70%
iShares Silver	18.68	-0.49	-2.56%
ProShares Ultra VIX Short-Term Futures	8.91	-0.20	-2.20%
ProShares UltraPro QQQ	38.89	+0.91	+2.40%

Apple	173.19	+1.09	+0.63%
Alphabet A	122.08	+0.40	+0.33%
Tesla	927.96	+27.87	+3.10%
Amazon.com	143.18	-0.37	-0.26%
Netflix	249.11	-0.19	-0.08%
Meta Platforms	180.89	+0.39	+0.22%
Bank of America	36.25	-0.05	-0.14%

	Interest Rates	Next Meeting
FED	2.50%	Sep 21, 2022
ECB	0.50%	Sep 08, 2022
BOE	1.75%	Sep 15, 2022
SNB	-0.25%	Sep 22, 2022
RBA	1.85%	Sep 06, 2022
BOC	2.50%	Sep 07, 2022
RBNZ	2.50%	Aug 17, 2022
BOJ	-0.10%	Sep 22, 2022
CBR	8.00%	Sep 16, 2022
RBI	5.40%	Sep 30, 2022
PBOC	2.75%
BCB	13.75%	Sep 21, 2022

Asian Markets Show Gains

Asian equities leap higher following Wall Street

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