Australian stocks should start lower; bitcoin price rebound

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SINGAPORE Australian stocks looked set to fall on Thursday’s open as Japanese markets were closed for a holiday.

Futures have indicated a lower opening for Australian stocks. The SPI futures contract was at 7,290 from the last close of the S & P / ASX 200 at 7,308.70.

Concerns over the coronavirus situation in Asia-Pacific could continue to weigh on regional sentiment on Thursday. Australia’s two largest states reported a sharp rise in new Covid infections on Wednesday, while Indonesia saw a record number of deaths from the virus, according to Reuters.

Markets in Japan are closed on Thursdays for a public holiday.

Meanwhile, the price of bitcoin has rebounded after recently falling below the $ 30,000 mark. It was trading at $ 32,086.50 at 7:33 p.m. ET on Wednesday, according to Coin Metrics.

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Overnight in the United States, the Dow Jones Industrial Average gained 286.01 points to 34,798 while the S&P 500 rose 0.82% to 4,358.69. The Nasdaq Composite rose 0.92% to 14,631.95.

Currencies

The US dollar index, which tracks the greenback against a basket of its peers, was at 92.754 after a recent drop above 93.

The Japanese yen was trading at 110.26 per dollar, lower than the levels below 109.5 seen against the greenback earlier this week. The Australian dollar changed hands at $ 0.7355, above the below $ 0.732 levels seen yesterday.

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