04:19
+7 C°
Traffic jam:   0
$
74.1373
89.5060

APAC stock markets rise after America's 2021 budget signing

28 December 2021
1743
2 min.
13
1
APAC stock markets rise after America's 2021 budget signing

APAC stocks

Asia-Pacific (APAC) stock indexes are mostly higher in trading on Monday after US President Donald Trump signed the country's $2.3 trillion fiscal year 2021 budget, which includes a $900 billion pandemic economic support package.

At the same time, investors are concerned about the worldwide spread of a new strain of coronavirus previously identified in the UK. The first cases of infection with the "British" strain of coronavirus were confirmed in South Korea.

According to the Korea Agency for Disease Control and Prevention, three people infected with the strain, first identified in the UK, arrived in South Korea from London.

Meanwhile, Beijing authorities have tightened quarantine measures over fears that travel during the holiday period could lead to an outbreak of COVID-19 in the Chinese capital.

Japan's Nikkei 225 index was up 0.62 percent.

Shares of Hino Motors (+4.6%), Mitsubishi Heavy Industries Ltd. (+4.6%), Kawasaki Heavy Industries Ltd. (+4,5%).

Retailer J. Front Retailing Co. are down 3.3% and automaker Subaru Corp. by 3.3%.

China's Shanghai Composite rose 0.05 percent and Hong Kong's Hang Seng declined 0.12 percent.

Chinese authorities have asked Ant Group Co. to limit its business to providing online payment services. The country's central bank held a meeting over the weekend with the company's management to discuss its credit, insurance and asset management services business. While the regulator did not call for the separation of Ant, it stressed the need to "reorganise the business" of the company.

The share price of Alibaba (NYSE:BABA) Group Holding Ltd, which owns a stake in Ant, is down 7.5% in Hong Kong trading.

Shares of carmaker Geely Automobile Holdings Ltd. are up 5.4 percent, oil producer CNOOC Ltd. by 3 percent and telecoms operator China Mobile Ltd. by 2.6%.

South Korea's Kospi was up 0.13% in trading.

LG Electronics shares jumped 12.5%. Last week, the South Korean consumer electronics maker announced a joint venture with Canada's Magna International Inc. to produce key components for electric vehicles.

South Korea's Air Busan Co. was down 8.6 percent.

Persons1 and Companies12 in the news

45th President of the United States
1 place
Air Busan
1 place
China Mobile
3 place
CNOOC
4 place
Hino Motors
8 place
Ant Group
9 place
Alibaba Group
10 place
Geely
11 place
LG Chem
12 place
Section:

Discussion

Rating companies
Tesla
56 Mention
Apple
55 Mention
Amazon
52 Mention
Nasdaq
51 Mention
Dow Jones
43 Mention
Facebook
43 Mention
Microsoft
31 Mention

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director