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Saturday, January 23rd, 2021

Asian Markets Bring in New Year with Big Gains?

by January 4, 2021 General

Asian markets began the first trading week of 2021 on a high note Monday, thanks to growing optimism as more nations are approving the new COVID-19 vaccines for their citizens.

Australia’s benchmark S&P/ASX index rose 1.4%. The KOSPI index in South Korea soared 2.4%, and Taiwan’s TSEC index gained 1.1%.

In late afternoon trading, Hong Kong’s Hang Seng and Shanghai’s Composite indices are both up 0.8%, and the Sensex in Mumbai is up 0.3%.

Japan’s benchmark Nikkei index dropped 0.6% after Prime Minister Yoshihide Suga said Monday the government was considering imposing a state of emergency for Tokyo and surrounding areas in the face of an escalating surge of new coronavirus cases.

In commodities trading, gold is selling at $1,928.70 per ounce, up 1.7%. U.S. crude oil is selling at $49.57 per barrel, up 2.1%, and Brent crude oil is selling at $53.02 per barrel, up 2.3%.

All three major U.S. indices are trending higher in futures trading.

Source: Voice of America