Asian stocks are mostly higher after a large rally on Wall Street
After a large gain on Wall Street, stocks in Europe and Asia were generally higher as investors anticipated US jobs and other data due on Friday.
Concerns over the spread of the new type of coronavirus and efforts by countries to contain it have continued, but news that its symptoms are moderate and vaccinations appear to protect against serious illnesses appear to be alleviating them.
The DAX in Germany rose 0.7% to 15,361.76. The CAC 40 in Paris rose 0.5% to 6,831.75 points, while the FTSE 100 in the UK rose 0.3% to 7,147.30 points.
Dow industrials futures were up 0.3%, while 500 futures were up 0.1%.
Didi Global Inc., a Chinese ridesharing service, said on Friday it would withdraw from the New York Stock Exchange and be listed in Hong Kong as the ruling Communist Party tightens its grip on the tech sector.
The Securities and Exchange Commission has taken action to force U.S.-listed foreign stocks, like Didi’s, to disclose their ownership structures and audit reports, which can lead to their delisting.
Read more: Person injured in car crash on Rush Lima Road in New York City
In another setback for China’s struggling real estate industry, Hong Kong-listed developer Kaisa Group said it had failed to get the necessary clearance from bondholders to extend the payment date of $ 400million. dollars in offshore notes at 6.5%. She wanted the new notes to be due on June 6, 2023, at the same interest rate as the old ones.
The goal was to reduce financial stress, and if the strategy fails, the probability of default increases.
In Asian trade, the Hang Seng in Hong Kong fell 0.1% to 23,766.69, while the Nikkei 225 in Tokyo climbed 1% to 29,029.57, regaining lost territory. The Kospi rose 0.8% to 2,968.33 in Seoul. The S & P / ASX 200 Index in Sydney rose 0.2% to 7,241.20. The Shanghai Composite Index rose 0.9% to 3,607.43 points.
In a $ 40 billion merger in a deal to acquire a specialty company, Southeast Asia’s largest rideshare company Grab fell 20.5 % when it debuts in the market on Thursday.
On Thursday, the 500 climbed 1.4% to 4,577.10, its highest level since mid-October. The Dow Jones Industrial Average rose 1.8% to 34,639.79. The Nasdaq rose 0.8% to 15,381.32, weighed down by a 0.6% loss at Apple after the iPhone maker reportedly warned suppliers that demand was weak ahead of the Christmas season.
Subscribe to Bigblueunbiased for the latest information.