Asian shares extended gains on Thursday after the Federal Reserve said it was too early to consider rolling back emergency support for the economy, and U.S. President Joe Biden proposed an $1.8 trillion stimulus package.
European and U.S. markets were set to open higher as well, with FTSE futures up 0.15%. E-mini futures for the S&P 500 index rose 0.53% and Nasdaq futures advanced 0.87%.
MSCI’s broadest index of Asia-Pacific shares outside Japan built on early gains and was up 0.46% by mid-afternoon.
Australia’s S&P/ASX 200 edged up 0.24%, as strong oil prices lifted energy stocks.
Markets in Japan were closed for a holiday but Nikkei futures rose 0.35% to 29,055 points.
For the rest of the day, investors will focus on the first estimate of U.S. GDP for the first quarter, which is expected at 13:30 GMT.
· China stocks end higher on financials' upbeat Q1 results, tourism recovery hopes
China stocks ended the session higher on Thursday, underpinned by gains in financials after some heavyweight companies reported robust first-quarter profits, while some mutual funds’ high allocations to the banking sector also lent support.
At the close, the Shanghai Composite index was up 0.52% at 3,474.90, while the blue-chip CSI300 index was up 0.88% to 5,164.17. ** The smaller Shenzhen index ended up 0.36% and the start-up board ChiNext Composite index was unchanged.
· S.Korea stocks slide on profit-taking after corporate earnings
South Korean shares ended lower on Thursday, as investors booked profits following a series of corporate earnings reports from technology giants, offseting a near 7% surge in LG Chem. Both the won and the benchmark bond yield rose.
The benchmark KOSPI closed down 7.40 points, or 0.23%, at 3,174.07, after falling 1.06% on Wednesday.
· European stocks advanced on Thursday as markets react to the U.S. Federal Reserve’s decision to hold interest rates near zero and digest a fresh round of corporate earnings.
It’s a busy day for Europe’s markets, with Total, Shell and Airbus among the companies reporting earnings before the bell.
Shell slightly exceeded first-quarter profit expectations to record adjusted earnings of $3.2 billion and raised its dividend by around 4%, sending the oil major’s stock 0.8% higher in early trade.
France’s Total also saw its shares climb 0.9% after profits surged to pre-pandemic levels on the back of stronger commodity prices.
Airbus also slightly beat expectations in its first-quarter results, with the world’s largest planemaker reporting a particularly strong free cash flow of 1.26 billion euros ($1.53 billion). Airbus shares gained 2.7%.
Spain’s Linea Directa, formerly the insurance unit of Bankinter, surged more than 30% in its market debut in Madrid on Thursday to lead the Stoxx 600.
Finnish telecoms giant Nokia soared 12% after beating first-quarter revenue and profit expectations on the back of strong network and 5G sales.
Reference: CNBC, Reuters
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