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Today’s markets: Stocks are up, fueled by euphoria coming mostly from US news.
The global recovery remains the focus of investors and infrastructure plan of the president Joe biden has helped traders look beyond the brakes of the worrying outbreaks of the pandemic.
Stocks therefore rose after the weakest quarter in a year, while higher Treasury yields have supported the dollar.
What happens in the markets today?
US Pushes Stocks: Asia Advances
Asia wakes up positive today, behind the back of the news from the United States.
MSCI’s broader index of Asia Pacific stocks outside of Japan rose 0.6% after a modest decline yesterday.
Japan’s Nikkei gained 1.3%, also supported by a survey in which the mood of large producers returned to pre-pandemic levels. The Topix index was up approximately 0.14%. South Korea’s Kospi also rose 0.77%.
Hong Kong’s Hang Seng Index led gains among the region’s top markets, rising 1.13% in the afternoon.
Mainland Chinese stocks were up, the Shanghai compound was up 0.25% and the Shenzhen component was up 0.828%.
As for the companies, the shares of the Taiwan Semiconductor Manufacturing Company increased by approximately two%. The company has announced plans to invest $ 100 billion over the next three years to increase the capacity of its factories.
To underline, a slowdown in the growth of activity Chinese industrial in March. The March Caixin / Markit index stood at 50.6, compared to the February reading of 50.9. The figure above 50, however, shows an expansion.
Biden Accelerates US Recovery With $ 2 Trillion
The focus remains on the US and Biden economic expansion projects. The president presented his next massive plan dedicated mainly to infrastructure: the value is beyond 2 trillion dollars.
Biden’s plan includes a $ 174 billion investment in electric vehicles, with Tesla leading earnings with a jump of 5%, while Apple grew 1.9% and Microsoft 1.7%.
It is unclear if the plan will make it to Congress, as it has received a cold reception from Republicans.
However, the breadth of proposed spending has helped investors return to technology and Nasdaq rose 1.5%.
Meanwhile I returns of 10-year Treasury bonds rose to 1,753%, while the dollar It stopped just below the yen’s one-year high at 110,685.
The United States markets ended the quarter with gains – the S&P 500 rose 5.8% and the Dow Jones 7.8% in the three months – however, the 4.1% quarterly increase in global equities was the slowest since the beginning of the recovery from the collapse of last March.
This was due to growing concern about the introduction of the vacillating vaccine and a new wave of infections, particularly in Europe, where the France ordered a third national blockade.
