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30.06.202109:38 Forex Analysis & Reviews: Asian stock markets are trading in positive territory

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Exchange Rates 30.06.2021 analysis

Among other things, a positive factor for the market was the statement of the American Moderna Inc., which announced yesterday that its vaccine against COVID-19 is effective against variants of the coronavirus, including against the more infectious strain of delta. According to a press release on the company's website, vaccination with Moderna's COVID-19 drug produces neutralizing antibody titers against all variants, including the delta variant.

The consumer confidence index in Japan in June 2021 increased by 3.3 points compared to the previous month, to 37.4 points. The indicator became the highest since February last year.

Among the leaders in the growth of quotations are shares of M3 Inc. (+ 3.6%), Sharp Corp. (+ 3.3%) and Minebea Mitsumi Inc. (+ 2.9%).

The price of shares of the investment and technology SoftBank Group increased by 0.5%, the price of shares of the largest retailer of clothes in Asia Fast Retailing decreased by 0.06%. Consumer electronics maker Sony shed 1.4%.

The Chinese Shanghai Composite Index climbed 0.5% by 8:24 GMT + 2, while Hong Kong's Hang Seng lost 0.15%.

The purchasing managers' index (PMI) in the processing industry in China in June fell to 50.9 points from 51 points a month earlier. The June value of the index is the lowest since February. Analysts on average expected a more significant decline, to 50.7 points.

A PMI reading above 50 points indicates an increase in activity in the sector, below it indicates weakening. The index has surpassed this mark for sixteen consecutive months. It collapsed to a record low at the peak of the coronavirus pandemic in China in February 2020. As early as March last year, when the PRC authorities lifted tough restrictions that had been in place to curb the spread of the coronavirus, economic activity in the industrial sector returned to growth.

The leaders of the fall in the course of trading on the Hong Kong Stock Exchange are quotations of securities of Xinyi Solar Holdings Ltd. (-4.3%), Hengan International Group Co. Ltd. (-3.8%), Geely Automobile Holdings Ltd. (-3.6%). Internet giant Tencent Holdings is down 0.3%, and consumer electronics giant Xiaomi is down 1.5%.

Meanwhile, shares in online retailer Alibaba Group are up 0.9%, while shares in Internet giant Tencent Holdings are down 1%.

The South Korean Kospi Index rose 0.5% by 8:22 GMT + 2.

The market value of one of the world's largest chip manufacturers, Samsung Electronics Co. rose 0.1%, while automaker Hyundai Motor rose 0.2%.

Australian S & P / ASX 200 increased by 0.5% by 8:24 GMT + 2.

Capitalization of the world's largest mining companies BHP and Rio Tinto grew by 1.6% and 2%, respectively.

Thomas Frank
Analytical expert of InstaForex
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