· Stocks edge up as Biden spending plan boosts U.S. outlook
Stocks crept higher on Thursday following their weakest quarter in a year, while higher Treasury yields supported the dollar, as investors parsed the details of a $2 trillion U.S. government spending plan and hoped for strong jobs data later in the week.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6% after a modest drop on Wednesday. Japan’s Nikkei rose 1.3% as a survey showed big manufacturers’ mood bouncing back to pre-pandemic levels.
· Japan shares rise as IT sector shines on bright semiconductor outlook
Japanese stocks rose on Thursday, as investors snapped up shares of semiconductor-related companies on the first day of the new fiscal year on hopes for robust corporate earnings.
The Nikkei 225 Index ended up 0.72% at 29,388.87, while the broader Topix rose 0.19% to 1,957.64.
The technology sector led the advance after U.S. chipmaker Micron Technology Inc forecast third-quarter revenue above analysts’ forecasts.
· China stocks end higher on consumer, healthcare shares boost
China stocks closed higher on Thursday, led by consumer and healthcare shares, as investors appeared to shrug off a survey showing weaker-than-expected factory activity growth in the world’s second-largest economy.
The blue-chip CSI300 index rose 1.2% to 5,110.78, while the Shanghai Composite Index added 0.7%to 3,466.33.
· European markets edge higher ahead of slew of data releases
European stocks advanced slightly on Thursday ahead of a raft of data releases from the region.
The pan-European Stoxx 600 added 0.2% in early trade, with tech stocks climbing 1.1% to lead gains while oil and gas stocks edged 0.3% lower.
European investors will be focused on data releases from the region Thursday that can offer more clues on the state of health of the European economy; data releases include Germany’s retail sales in February, France’s trade balance in February, manufacturing PMI (purchasing manager’s index) data for a slew of European countries in March and preliminary fourth quarter Russian GDP (gross domestic product).
Reference: CNBC, Reuters
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