Asian equities trades mixed because of a light calendar
Several factors generated caution in the stock market worldwide. On the one hand, it has been an increase in the number of infections of the coronavirus. Moreover, the vast majority of US firms presenting better than expected results in their quarterly accounts oppose the catalysts that are moving the markets.
The MSCI’s index of Asia-Pacific shares outside Japan rose 0.66%. Meanwhile, Japan’s Nikkei 225 hiked up by 0.55%.
Elsewhere, Aussie and Kiwi markets stayed dull during a bank holiday due to ANZAC Day.
What’s more, Chinese markets also trade mixed amid global anger over Xinjiang and the South China Sea. The gloomy performance could also be traced to the stocks in Indonesia and the Philippines.
Southeast Asian tech giants could buy startups after going public
According to Golden Gate Ventures, Southeast Asian tech giants could purchase startups with the funds they raise when going public.
The firm states that going public gives them the capital to grow. It gives them the valuation to make these kinds of acquisitions, a combination of cash and equity.
This happened in China 10 or 15 years ago, with Baidu, Alibaba, and Tencent buying up smaller companies.
Indian shares picked up
Indian shares increased ahead of earnings reports from blue-chip companies. The stock market sentiment is positive despite new cases of coronavirus infections in the country, totaling more than 300,000.
The NSE Nifty 50 index gained 0.53% to 14,562.1 by 0441 GMT. Meanwhile, the benchmark S&P BSE Sensex grew by 0.54% at 48,649.84.
Last week, amid concerns over increases in infections, Indian indexes posted their third weekly loss.
Infections have decreased in Mumbai since Maharashtra state entered lockdown earlier this month. New Delhi and Karnataka have also imposed lockdowns to limit the spread of the virus.
According to a strategist at Geojit Financial Services, the steady drop in coronavirus cases is a great relief. For mid-may, the market might take signals from that.
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