On back of record US highs, Asian stock continues to rise

| Updated: July 13, 2021 7:51 am

Asian Stock market continued its upward move on Tuesday on back of strong gains in the US markets. Most market in Asia are in the bullish momentum with Nikkei in Japan gaining 0.81 per cent, The South Korean 0.70 per cent and Hang Seng rising by 1.52 per cent. Expectations for a solid earnings season is underpinning the stock rally.

Back on strong gains in Tesla and better than earnings estimate of banking and financials, the three benchmark indices in the US closed at all time highs. The Dow Jones Industrial Average rose 0.36% to end at 34,996.18 points, while the S&P 500 gained 0.35% to 4,384.63. The Nasdaq Composite climbed 0.21% to 14,733.24.

Meanwhile, after drop in the American session, Crude oil futures are up expecting dip in inventories. Brent crude futures were up 25 cents to $75.41 a barrel, after losing 0.5% on Monday. U.S. West Texas Intermediate crude for August was at $74.33 a barrel, up 23 cents having fallen 0.6% the previous day.

IndexLatest% change
Nikkei 22528,801.500.81%
S&P/ASX 2007,371.300.52%
Shanghai3,556.650.25%
Hang Seng27,868.371.52%
Taiwan Weighted17,952.390.77%
SET1,549.84-0.14%
KOSPI3,269.310.70%

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