Picture used for illustrative purpose. File
Stocks were mixed in Asia on Thursday as investors watched to see if lawmakers will come ahead with fresh stimulus for a U.S. economy struggling with shutdowns as new coronavirus outbreaks flare.
Tokyo's Nikkei 225 index shed 0.4% to 22,418.15 while the Shanghai Composite index gave up 0.5% to 3,362.32. Hong Kong lost 1.4% to 24,746.30.
South Korea's Kospi added 1.1% to 2,337.05 after Samsung Electronics, the country's biggest company, unveiled three new models of smartphones it hopes will revive its sinking sales. Samsung's shares rose 1.8%.
Australia's S&P/ASX 200 added 0.5% to 6,031.00, lifted by strong gains in commodity prices on expectations that China's economy is on the mend after the country largely recovered from the pandemic.
The S&P 500 index logged its fourth straight gain on Wednesday, pulling within 1.7% of the record high it set in February. It picked up 0.6% to 3,327.77 as negotiators on Capitol Hill reported some progress in talks for more support for the economy as pressure mounts for quicker action.
Overall, "stocks remain underpinned by optimism over the coronavirus relief bill. Democrats and the White House are inching closer to a deal, and the market remains cheery an agreement can be signed off by the end of the week,” Stephen Innes of AxiCorp said in a commentary.
Asian stock markets were mostly higher Tuesday after Wall Street rose on a flurry of corporate deals and China's economic activity improved. Shanghai, Hong Kong and Seoul gained, while Tokyo retreated.
Most Asian markets fell Monday following another disappointing performance on Wall Street with investors growing concerned about an uptick in coronavirus infections in Europe and the United States, as well as the lack of movement in Washington on a new stimulus.
The MSCI index is also set for its biggest weekly drop since March, down more than 4% so far this week. Chinese blue-chips dropped 1.6%, Hong Kong's Hang Seng fell 1.7%, Seoul's KOSPI sank 2.59% and Australian shares fell 0.81%.
Japan's Nikkei declined 1.11%.
Aramex announced its financial results for the first half ending 30th June 2022. The company reported revenues of Dhs2.97 billion, while the net profit stood at Dhs91.9 million.
The Board of Trustees of the Sharjah Award for Public Finance — the first of its kind in the Arab world has announced the launch of the second cycle of the award,
Abu Dhabi National Oil Company (Adnoc) announced on Thursday a $1.17 billion (Dhs4.3 billion) contract for the hire of 13 self-propelled jack-up barges to drive offshore