· Asia to perform much better in 2021 than 2020: CIO
Bhaskar Laxminarayan of Bank Julius Baer says improved U.S.-China relations and dollar weakness make Asian equities and fixed income attractive.
· Asia-Pacific stocks mixed as China’s December trade data beat expectations
Stocks in Asia-Pacific were mixed on Thursday as investors regionally reacted to Chinese trade data for December.
Mainland Chinese stocks declined on the day: The Shanghai composite shed 0.91% to 3,565.90 while the Shenzhen component dropped 1.922% to 15,070.13. Hong Kong’s Hang Seng index advanced 0.68%, as of its final hour of trading.
China’s exports rose 18.1% in December as compared with a year earlier, according to customs data released Thursday. That was higher than expectations for a 15% increase by analysts in a Reuters poll.
Meanwhile, China’s imports grew 6.5% year-on-year in December, as compared with expectations for a 5% rise in a Reuters poll.
In Japan, the Nikkei 225 rose 0.85% to close at 28,698.26 while the Topix index edged 0.48% higher to finish its trading day at 1,873.28.
South Korea’s Kospi closed slightly higher at 3,149.93. Over in Australia, the S&P/ASX 200 gained 0.43% on the day to 6,715.30.
MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed.
On the coronavirus vaccine front, trial data published Wednesday in the New England Journal of Medicine showed Johnson & Johnson’s one-shot Covid vaccine is safe and appears to generate a immune response in both young and elderly volunteers.
J&J’s vaccine candidate, which only requires one dose, could simplify logistics for health-care providers. The two vaccines currently authorized by the Food and Drug Administration from Pfizer-BioNTech and Moderna require two doses about three to four weeks apart.
· European markets mixed amid coronavirus, U.S. political turbulence
European stocks opened mixed Thursday amid ongoing concerns over the coronavirus pandemic and political turbulence in the U.S.
The pan-European Stoxx 600 inched 0.2% higher in early trade with major bourses roughly flat. Tech stocks jumped 1.6% to lead gains, while utilities dropped 0.3%.
European markets started the trading day on a cautious note, as investors monitor the ongoing battle with a rise in coronavirus cases. Vaccination rollouts across the Continent have raised hopes that an end to the pandemic is on its way, however.
More positive news on the vaccine front emerged on Wednesday as early trial data published in the New England Journal of Medicine showed Johnson & Johnson’s one-shot Covid vaccine is safe and appears to generate an immune response in both young and elderly volunteers.
U.S. political turbulence remains in focus after House members voted to impeach President Donald Trump for a second time — making him the first U.S. president ever to be impeached twice — as a bipartisan majority charged him with inciting a riot in the U.S. Capitol last week.
Reference: CNBC
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