Meta boosts Asian markets
<p><a href="https://api.addthis.com/oexchange/0.8/forward/facebook/offer?url=https%3A%2F%2Fwww.marketpulse.com%2F20220428%2Fmeta-boosts-asian-markets%2F&pubid=ra-525512e4690e068c&title=Marketpulse%20%7C%20Home&ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32x32/facebook.png" border="0" alt="Facebook" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/twitter/offer?url=https%3A%2F%2Fwww.marketpulse.com%2F20220428%2Fmeta-boosts-asian-markets%2F&pubid=ra-525512e4690e068c&title=Marketpulse%20%7C%20Home&ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32x32/twitter.png" border="0" alt="Twitter" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/email/offer?url=https%3A%2F%2Fwww.marketpulse.com%2F20220428%2Fmeta-boosts-asian-markets%2F&pubid=ra-525512e4690e068c&title=Marketpulse%20%7C%20Home&ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32x32/email.png" border="0" alt="Email" /></a></p><p><strong>Asian equities surge higher with US futures</strong></p>
<p>Wall Street’s main indexes had a sideways day overnight, finishing almost unchanged from the day before. The Meta results though, have lifted US index futures sharply as Meta rallied by over 15% in extended trading, lifting other tech heavyweights. Nasdaq futures have rallied by 1.25%, S&P 500 futures are 0.70% higher, while the value-orientated Dow futures have risen just 0.20%.</p>
<p>That has been enough to spark a relief rally of sorts in Asia today, although a barrage of infrastructure spending talk in China helped lift the gloom in China markets yesterday. Japan’s Nikkei 225 has risen by 1.0%, with South Korea’s Kospi climbing by 0.60%, while Taipei has rallied by 0.75%.</p>
<p>In China, the Shanghai Composite has gained 0.35%, with the CSI 300 rising by 0.45%. Hong Kong is performing its usual Nasdaq tail-chasing act, rising 1.0% in sympathy today. Mainland equity markets are potentially holding back as mass testing gets underway in Beijing and news that parts of the port city of Qinhuangdao have been locked down. China’s Covid-zero issues have not gone away.</p>
<p>In regional markets, Singapore has risen by just 0.20%, Kuala Lumpur is 0.55% higher, with Jakarta gaining 0.45%. Bangkok is 0.10% higher and Manila has added 0.45%. Australian markets have climbed on the Meta bandwagon, the ASX 200 and All Ordinaries climbing by 0.95%.</p>
<p>The Financial Times story suggests a rouble payment capitulation by European energy companies may give European stocks a reason to open higher today. The relief is likely to be short-lived as the obvious conflict between Europe’s political masters and its private sector will be a major test of European unity. In the US, results from Apple and Amazon will set the tone for the Wall Street session.</p>