Asia-Pacific Stocks Rise As Investors Monitor US-China Tensions

On Wall Street, stocks also saw gains as investors were driven by optimism about the US economy gradually opening up from the COVID-19 lockdown.

Stocks in the Asia-Pacific were higher in morning trade on Thursday, according to CNBC News.

Japan’s Nikkei 225 traded 1.17 percent higher fueled by shares of Fast Retailing that was 2.37 percent up. The Topix index also rose 0.93 percent.

South Korea’s Kospi advanced 0.64 percent.

In Australia, the S&P/ASX 200 was 0.81 percent higher.

Overall in the region, the MSCI Asia ex-Japan index was 0.29 percent up.

Meanwhile, in the United States, stocks closed up 2 percent to extend their recovery from the coronavirus-triggered selloff, with the key Dow Jones Industrial Average index settling above 25,000 points the first time since the lockdowns imposed by the pandemic. The S&P 500, the barometer for the top 500 US stocks, settled up 1.5 percent at 3,063. The tech-heavy Nasdaq Composite finished up 0.8 percent at 9,412.

Investors are likely to be following US-China tensions, as the White House signaled the possibility of new sanctions imposed against Beijing over Hong Kong. After the Chinese legislature proposed a bill to outlaw subversive activity in Hong Kong as rallies resumed on Sunday despite a coronavirus-induced ban on gatherings, Washington threatened new restrictions if Beijing does not change its policy towards the special administrative region.

Sourse: sputniknews.com