Asian Stocks Before China, US Data; Investors expect “star” gains with Investing.com

By Gina Lee

Investing.com – As Asia Pacific shares rose on Tuesday morning, the country could offer clues to the recovery of COVID-19. Investor radar also contains U.S. inflation data and second-quarter earnings.

China rose 0.25% at 22:07 ET (02:07 GMT) and 2.14%. Chinese trade data, among others, will be published later in the day. More data, including the second quarter and data, will be released on Thursday.

Investors were estimating the impact of a slower economic recovery in China, along with new COVID-19 outbreaks in several regions, on fuel demand.

Hong Kong rose 1.55%. Japan rose by 0.83% and South Korea by 0.66%.

In Australia, it rose by 0.46%. Sydney’s COVID-19 lockout is likely to increase earnings for the Australian index, however. It also fell to June 11, below the May 20 figure.

Meanwhile, the three-year auctions and ongoing profits contributed. The three-year $ 58 billion in sales was slightly higher than the auction, while the 10-year $ 38 billion in sales was in higher demand.

Bank of America (NYSE :), BlackRock (NYSE :), Citigroup (NYSE :), Goldman Sachs (NYSE :), JPMorgan (NYSE 🙂 and Morgan Stanley (NYSE 🙂 Among the names that kick off the earnings season, hopes for a strong earnings season are supporting a rally in global stocks.

Investors are also betting on when central banks will start reducing assets while COVID-19’s economic recovery continues in some countries. However, they also remain concerned about inflation along with the recent expansion of the Delta variant of COVID-19 and the decline in vaccination rates.

They now wait for June, a day later, and the producer price index, a week later, to further measure inflationary pressures.

U.S. Federal Reserve Chairman Jerome Powell will also testify before the Senate Banking Committee on Wednesday and Thursday, and his comments will be closely monitored in the face of any clarification on the Fed’s asset reduction calendar.

“Wall Street is having a rough week, with market participants betting on growth or cyclical growth and accelerating inflation,” Oanda market chief Edward Moya said in a statement.

“One thing everyone agrees on is that the gains in the second quarter will be stellar,” the release added.

Even in front of the central bank, many policy decisions will be made during the week. The decision will be made on Wednesday, and the decisions will be made on Thursday and Friday, respectively.