Asian stock markets rose, investors digested the impact of OPEC + negotiations breakdown provider Investing.com

Gina Lee

Investing.com-Although investors digested the excess production, Asia-Pacific stock markets mostly rose in early trading on Tuesday, and prices soared.

As of 10:07 pm Eastern Time (2:07 am GMT), the Japanese stock market was up 0.34% and the South Korean stock market was up 0.50%.

In Australia, the index rose slightly by 0.18% before expiration later in the day. Although the recent outbreak of COVID-19 has led many cities to implement restrictive measures, it is expected that the Bank of Australia will begin to withdraw some of the stimulus measures in its decision.

The Hong Kong stock market fell slightly by 0.17%.

The Chinese stock market rose slightly by 0.04%, while the Chinese stock market fell by 0.23%. The country will release its peace on Friday.

Earlier this week, after China’s National Internet Information Office ordered the app store to remove Didi from its products, investors also remained alert to the market, and the ride-hailing giant launched a crackdown a few days after it went public .

The U.S. market is closed on Monday for a holiday.

OPEC+ abandoned the latest negotiations held on Monday aimed at resolving the deteriorating production level dispute between Saudi Arabia and the United Arab Emirates.

The breakdown of the negotiations also triggered the specter of a price war different from the Saudi Arabia-Russia price war, which caused the price of black liquid to enter a negative zone in April 2020. The breakdown of this negotiation also means that the increase in production originally scheduled for August will not continue as some countries continue to recover from COVID-19, which may lead to oil shortages.

The inevitable rise in energy prices may also further exacerbate existing inflationary pressures, which may prompt the Fed to start reducing its asset size earlier than expected. Investors are now waiting for the expiration on Wednesday to learn more about the unexpected hawkish turn of the central bank at that meeting.

In terms of data, the US data for June will be released later in the day.

The head of Coutts & Co., the oil price risk of $100 per barrel is “closely related to short-term inflation, which will make the market very, very avant-garde. We know that the Fed is paying attention to both economic data and the market.” Kings told Bloomberg.

Elsewhere, the UK will end social distancing and capacity restrictions on England venues from July 19, and the finance ministers of the Group of 20 (G20) will meet in Venice on Friday.