Asian Stock Market: Follows footprints of upbeat S&P500, DXY turns sideways, oil drops

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Asian Stock Market: Follows footprints of upbeat S&P500, DXY turns sideways, oil drops – by Sagar_Dua24 Asia Nikkei SP500 Fed PMI

ying interest after investors shrugged off uncertainty on tech’s earnings guidance. The risk profile is upbeat as theAt the press time, Japan’s Nikkei225 soared 1.64%, ChinaA50 remained almost flat, Hang Seng jumped 1.60% and Nifty50 climbed 0.93%.

China’s official Manufacturing PMI has landed lower at 49.2 vs. the projections of 50.0 and the prior release of 50.1, reported by the National Bureau of Statistics. Also, the Non-Manufacturing PMI has been recorded as significantly lower at 48.7 against the expectations of 51.9 and the former release of 50.6. It seems that the continuation of the no-tolerance Covid-19 policy has weighed pressure on economic activities.

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