By Gina Lee
Investment.com – Asia Pacific stocks rose mainly on Tuesday morning as investors waited for the United States in March, at the end of the day, to gauge the global economic recovery from COVID-19.
China edged down 0.02% at 11:23 PM ET (3:23 AM GMT) while gaining 1.23%. March’s early-day release was better than expected, with 49% growth year-over-year, up 38.1% year-on-year, and reaching $ 116.35 billion.
The country will release more data, including and data, on Friday.
In terms of China-US relations, U.S. Treasury Secretary Janet Yellen is reportedly going to refuse to name China as a currency manipulator in her first semi-annual foreign exchange report, which is currently not refunded. will be effective on Thursday. The move also allows the two countries to avoid a new tensions.
Hong Kong rose 1.44%, after the city launched the prospect of easing the restrictions on those who were fully vaccinated for COVID-19 on Monday.
Japan increased 1.04%, South Korea increased 1.16% and in Australia, the growth was 0.01%.
The US Federal Reserve will be announced on Wednesday, with the Fed Chairman also to speak at an Economic Club event of Washington on the same day. US will release as well as fifth data.
The figures come as US companies begin to publish their first quarter results throughout the week.
Meanwhile, companies scrambling for a tightly restricted global supply of semiconductors that have caused carmakers to shut down globally have been assured by U.S. President Joe Biden that the entire Republican party. and Democrats will support government funding to address the shortage.
However, concerns remain about whether global stocks can sustain momentum amid a skyrocketing number of COVID-19 infections in countries such as India, and the launch of the vaccine has reached a turning point. on the road in some areas.
Investors also noticed a slight increase in bond yields after Tuesday’s US Treasury Department’s 3- and 10-year bond auctions attracted decent demand. The Treasury will auction the bond 30 years later in the day.
However, some investors are still concerned about the possibility of inflation and borrowing costs.
“The real test will be when inflation starts to climb higher … that is when interest rates will have to re-price for the Fed to pull out sooner, or to pull back but the path faster,” TD Securities global interest rates, Priya Misra told Bloomberg.
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