SINGAPORE — Shares in Asia-Pacific were mixed in Thursday morning trade as investors continue to watch China’s Covid situation along with moves in the Japanese yen.
Investors are watching for signs of policy support from Chinese authorities as the mainland continues to grapple with its most severe Covid wave since the initial outbreak in 2020. Its strict zero-Covid policy has raised questions about China’s economic outlook.
In Australia, the S&P/ASX 200 nudged 0.22% higher.
MSCI’s broadest index of Asia-Pacific shares outside Japan hovered below the flatline.
Shares on Wall Street were mixed overnight. The Dow Jones Industrial Average climbed 249.59 points, or 0.71%, to 35,160.79. The S&P 500 dipped fractionally to 4,459.45 while the tech-heavy Nasdaq Composite lagged, dropping 1.22% to around 13,453.07.
The Japanese yen traded at 128.34 per dollar after strengthening from levels above 129 against the greenback yesterday.
Still, the Japanese currency remains weaker as compared with levels below 126 seen against the dollar last week.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 100.419 following a recent drop from around 101.
The Australian dollar changed hands at $0.7431, higher than levels below $0.736 seen earlier this week.