Asian Equities Mixed as Investors Await U.S. Jobless Data By Investing.com


© Reuters.

By Gina Lee

Investing.com – Asian stock markets were mixed Thursday morning in Asia as investors await the release of jobless claims data in the United States.

The U.S. initial jobless claims data is expected to be released later today, with forecasts compiled by Investing.com predicting a million claims.

The was up 1.69% by 10:55 PM ET (2:55 AM GMT). South Korea’s and China’s Shenzhen Component recouped earlier losses to rise 0.11% and 1.4% respectively.

However, Japan’s lost 3.99% while Hong Kong’s was down by 0.99% and China’s was down by 0.06%.

Even the news that U.S. senators have reached agreement on a $2 trillion relief package overnight failed to calm investors’ nerves.

The COVID-19 pandemic continues to be a force to be reckoned with. The World Health Organization said that the number of cases globally topped 400,000 and the number of deaths is approaching the 20,000 mark.

Rodrigo Catril, senior foreign exchange strategist at National Australia Bank, said in a note: “We are now starting to get data prints that should begin the capture the new reality, on that score tonight’s U.S. jobless claims is the big data release.”

“The US jobless claims figures for the week ending 21 March is expected to be very big, last week’s claims printed at 281k and the median estimate for the 21 March number is 1.5m,” Catril said. “There is a wide range of estimates out there – a couple of estimates as high as 4m and over a third of economist estimates above 2m.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *