Investing.com – Asia-Pacific stock markets rose in early trading on Thursday, and continued to regain momentum as US corporate earnings actively eased concerns about the global economic recovery from COVID-19.
As of 10:23 pm Eastern Time (2:23 am GMT), the South Korean stock market rose 0.97%. In Australia, as Queensland closed its border with New South Wales to curb the spread of COVID-19 in Sydney, the index rose by 0.93%. The 17 released earlier in the day was also lower than expected.
The Hong Kong stock market rose 1.74%.
China rose slightly by 0.17%, and China rose slightly by 0.18%.
Before the opening of the Tokyo Olympics on Friday, the Japanese market was closed for holidays.
The benchmark 10-year US Treasury bond yield climbed to the 1.3% mark. The recent bond rally is coming to an end, and the 20-year Treasury bond auction is not good. However, Australia and New Zealand’s 10-year Treasury bond yields rose.
Verizon Communications Company (New York Stock Exchange:) and Coca-Cola Company (New York Stock Exchange ticker:) The reported results were better than expected, and United Airlines Holdings (Nasdaq ticker:), despite the constant threat of COVID-19, still predicts profits. The positive results boosted the U.S. stock market, setting the biggest back-to-back gain in two months.
The positive earnings, coupled with the Fed’s continued moderate monetary policy, quelled some concerns earlier this week about the surge in the number of COVID-19 cases involving the Delta variant and its impact on the economic recovery.
David Mazza, head of product at Direxion, told Bloomberg that some investors are still optimistic about the outlook for global stocks, and they have turned from the sell-off earlier this week to show that “the company has been very resilient in all this.”
“The income estimates are amazing and may be the best ever. Despite this, our central bank is still very liquid and economic growth is strong. Of course, there are some question marks about how long this situation can last, but the current momentum is investors Support,” he added.
However, other investors sounded more pessimistic. Scott Minerd, chairman of Guggenheim Investments, told Bloomberg that September and October may be difficult for the stock market, and the U.S. stock market may fall by 15%.
On the central bank side, investors are now waiting.
In the United States, Fed Chairman Jerome Powell may be re-elected for a second term, even if the decision expires later in 2021, and it is reported that it has not yet been submitted to President Joe Biden. US data will also be released later in the day.
In terms of cryptocurrency, after celebrities including Tesla Inc. (Nasdaq:) CEO Elon Musk and Ark Investment Management CEO Casey Wood, they remained at the B Word conference after celebrities Above the $32,000 mark.
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