Thu. Jul 7th, 2022

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Asia-Pacific stocks slightly higher

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Asia-Pacific stocks

Stocks in Asia-Pacific were slightly higher Wednesday morning after new remarks from U.S. President Donald Trump surrounding the new Covid-19 relief package.

Mainland Chinese stocks were higher in early trade, with the Shanghai composite up 0.3% while the Shenzhen component advanced 0.33%. Hong Kong’s Hang Seng index sat slightly above the flatline.

In Japan, the Nikkei 225 rose slightly while the Topix index was up 0.13%. South Korea’s Kospi advanced 0.23%.

Shares in Australia edged higher, with the S&P/ASX 200 gaining 0.63%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.29% higher.

Trump on Tuesday said the $900 billion Covid relief bill passed by U.S. Congress was an unsuitable “disgrace.”

In the Bank of Japan’s October monetary policy meeting minutes released Wednesday, one member expressed concern that “deflation might take hold” if Covid-19 spreads again.

Overnight on Wall Street, the S&P 500 saw a third straight session of losses as it declined 0.2% to 3,687.26. The Dow Jones Industrial Average slipped 200.94 points to close at 30,015.51. The Nasdaq Composite outperformed as it rose 0.5% to close at 12,807.92, a new record.

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