Lack of catalysts for market direction Asian stocks rise and fall

Asian stock market investors today had difficulty picking up the momentum from last week’s push, with some opting to take profits before waiting for new buying factors to emerge. Asian stocks ended the day on a divergent note as the focus is now on the important employment data to be released in the United States.

Although the market is concerned that, with economic activity expected to heat up sharply this year, will trigger a price spike, forcing central banks to tighten monetary policy; but the recently released and closely watched U.S. inflation data rose sharply, and rose more than expected, investors are comfortable with it.

After the release of the inflation data, as an important indicator of the future direction of U.S. interest rates, the U.S. 10-year bond yield fell slightly. The calm reaction of investors, and the recent similar situation is very different.

Australian investment company security capital (AMP Capital) economist Oliver (Shane Oliver) pointed out: “due to the base effect, commodity prices brought about by the delayed impact and supply bottlenecks and other factors continue to ferment, the next few months fear of inflationary warming atmosphere is likely to have more opportunities to enhance; but now there are some signs that the spike in inflation will be a temporary phenomenon.”

Investors’ attention is now focused on the U.S. job market report to be released this week in May, the content will provide the outside world last year by the impact of the epidemic and the collapse of the U.S. economy’s latest recovery.

The three major indices of the U.S. stock market closed slightly up on the 28th, while Asian stocks are moving in a wobbly manner today. China announced a slight decrease in the growth rate of manufacturing activity in May, but did not elicit a reaction from investors.

Tokyo stocks closed down 1% today, Sydney stocks closed down 0.3%, Singapore stocks closed down 0.5%, and Manila and Kuala Lumpur stocks also closed in the black.

But Shanghai stocks closed up 0.4%, Hong Kong stocks closed up 0.1%, Seoul stocks closed 0.5% higher, Taipei stocks ended up 1.2%, Wellington, Bangkok, Jakarta and Mumbai stocks also closed all in the red.