Asian shares up, investors brace for busy week

13.07.2021 - Petr Mazaylo
Asian shares up, investors brace for busy week

Asian shares recorded an upbeat performance during its early Tuesday trade as Wall Street reached record highs overnight.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5%.Australian shares recorded an increase of 0.49%, while Japan’s Nikkei stock index climbed 0.79%.China’s blue-chip CSI300 index shed 0.1%, while Hong Kong’s Hang Seng index gained 0.65%.

Wall Street’s main indexes closed at their highest levels ever, lifted by Tesla (NASDAQ:TSLA) and bank stocks. Tesla’s massive gains mainly supported the S&P 500, while the Nasdaq rallied over 4%.

The S&P 500 banks index increased 1.3%, while JPMorgan Chase (NYSE:JPM) also gained over 1%. Goldman Sachs (NYSE:GS) climbed more than 2%, resulting in Dow’s gains.

Investors will have an eventful week with the start of the U.S. earnings season and inflation report from several countries. Federal Reserve Chair Jerome Powell will also deliver a testimony that can give hints on the timing of potential U.S. tapering.

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