Japan’s Nikkei is rising as Asia-Pacific stocks rise after jumping off Wall Street

SINGAPORE – Shares in the Asia-Pacific region rose on Wednesday morning, following a rebound in the U.S. state during which the Dow Jones industry average rose more than 500 points.

In Japan, the Nikkei 225 topped the main markets in the region, rising 1.3%, while the Topix index advanced 1.42%.

Japanese exports rose 48.6% in June from a year earlier, data released by the finance ministry on Wednesday show. That was more than the 46.2% increase economists expected in a Reuters poll.

Mainland China’s inventories were also higher as the Shanghai composite gained 0.75%, while the Shenzhen component rose 0.995%. The Hong Kong Hang Seng index advanced 0.19%.

By the way, the S & P / ASX 200 in Australia climbed 1.22%.

Australian retail sales fell 1.8% in June from the previous month on a seasonally adjusted basis, preliminary data from the Central Bureau of Statistics showed on Wednesday.

Following the release of the data, the Australian dollar changed its hand to $ 0.7319, still below the level above $ 0.742 seen last week.

South Korean Kospi fell behind because it fell 0.17%.

MSCI’s broadest Asia-Pacific stock index outside of Japan traded 0.37% higher.

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Overnight in the state, the Dow Jones industry average rose 549.95 points to 34,511.99. The S&P 500 jumped 1.52% to 4,323.06, while the Nasdaq Composite advanced 1.57% to 14,498.88.

Those gains are a return to losses on Monday, when the Dow fell more than 700 points amid fears that Covid’s resurgence could slow economic recovery.

Currencies and oil

The U.S. dollar index, which tracks the return of money against a basket of its peers, was at 93 after recently seeing levels above 93.1.

The Japanese yen traded at a price of 109.88 to the dollar, weaker than the level below 109.5 recorded against the greenback earlier in the week.

Oil prices were lower in the morning in Asian trading hours, with Brent crude crude oil reference futures lower by 0.4% to $ 69.07 a barrel. US crude futures fell 0.48% to $ 66.88 a barrel.

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