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Asian stocks soared, soared in cases COVID-19 Still in the minds of investors by Investing.com

© Reuters.

By Gina Lee

Investment.com – Asia Pacific stocks mostly rallied Thursday morning, breaking two days in a row after their US counterparts were fueled by a rally in companies that had benefited much. most from the economic recovery from COVID-19.

China edged up 0.04% at 10:28 PM ET (2:28 AM GMT) while down 0.27%. The US-China tensions are on the radar of investors, after the Senate Foreign Relations Committee passed a bill aimed at China through Wednesday’s 21-1 vote. The bill proposes stricter monitoring of overseas donations to US colleges and universities among other measures to enhance U.S. competitiveness in technology and manufacturing industries. important export.

Hong Kong’s rose 0.26%. The city may announce travel bubble details with Singapore later in the day, with non-quarantined travel starting after mid-May.

Japan increased 2.12% and South Korea increased 0.60%.

In Australia, this figure increased by 0.44%. Tensions between Australia and China have also increased after previously canceled agreements reached between China’s Belt and Road Initiative and the Victorian government.

Chinese President Xi Jinping has called for more global economic integration and warned the US and its allies to avoid “dominating others around” in his keynote address at the Boao Forum on Europe. Asia at the beginning of the week.

Traders will continue to refine the firm’s results as earnings season continues, after the spike in global COVID-19 cases sent global stocks below record highs.

Some investors are still optimistic.

Director of multi-asset strategy portfolio, Erin Browne, of Pacific Investment Management Co. told Bloomberg.

“While investors have certainly priced a lot on the degree of normalization in certain segments of the market, I still think there is room to run,” she added.

However, other investors were more cautious.

“Overall, I think the market is still inclined to take risks and I don’t think we have seen the last record high on any vehicle on the US stock market or in the market. global stock market … at the end of the day, [the selloff earlier in the week] IG’s market analyst Kyle Rodda told Reuters.

Meanwhile, the European Central Bank (ECB) will take down at the end of the day, which is supposed to remain unchanged and confirm that the central bank will accelerate asset purchases under its COVID-19 program. until June 2021. The US Federal Reserve will make its own decision next week.

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