Asia-Pacific markets mixed as IMF raises global economic growth forecast
Stocks in Asia-Pacific were mixed in Wednesday morning trade as the International Monetary Fund (IMF) raised its growth forecast for the global economy this year.
The Nikkei 225 in Japan rose 0.63% in early trade while the Topix index gained 0.61%. South Korea’s Kospi also advanced 0.78%.
Shares in Australia dipped, with the S&P/ASX 200 declining 0.4%. Australia’s fourth quarter consumer price index is expected to be out at around 8:30 a.m. HK/SIN on Wednesday.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.14% higher.
In its latest World Economic Outlook published Tuesday, the IMF now expects the global economy to grow 5.5% this year. That’s a 0.3 percentage point increase from October’s forecasts.
“Much now depends on the outcome of this race between a mutating virus and vaccines to end the pandemic, and on the ability of policies to provide effective support until that happens,” the IMF’s Chief Economist Gita Gopinath said in a blog post.
Reference: CNBC
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