Showing posts with label Asian Markets Closing Report. Show all posts
Showing posts with label Asian Markets Closing Report. Show all posts

Jan 27, 2021

Asia-Pacific markets mixed as IMF raises global economic growth forecast

 cnbc.com

Eustance Huang


SINGAPORE — Stocks in Asia-Pacific were mixed on Wednesday as the International Monetary Fund (IMF) raised its growth forecast for the global economy this year.

The Nikkei 225 in Japan rose 0.31% to close at 28,635.21 while the Topix index gained 0.65% to finish its trading day at 1,860.07. South Korea's Kospi closed 0.57% lower at 3,122.56.

Mainland Chinese stocks nudged higher on the day: The Shanghai composite advanced 0.11% to 3,573.34 while the Shenzhen component gained 0.4% to 15,413.84. Hong Kong's Hang Seng index was above the flatline, as of its final hour of trading, with shares of Chinese tech giant Alibaba rising 2.76%.

China's industrial profits rose 4.1% year-on-year in 2020, the country's National Bureau of Statistics announced Wednesday. For December, industrial profits in China soared 20.1% year-on-year.

In Australia, the S&P/ASX 200 declined 0.65% to close at 6,780.60. Australia's consumer price index rose 0.9% quarter-on-quarter in the December quarter, according to data released by the country's Bureau of Statistics.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.4%.

In its latest World Economic Outlook published Tuesday, the IMF now expects the global economy to grow 5.5% this year. That's a 0.3 percentage point increase from October's forecasts.

"Much now depends on the outcome of this race between a mutating virus and vaccines to end the pandemic, and on the ability of policies to provide effective support until that happens," the IMF's Chief Economist Gita Gopinath said in a blog post.

Global coronavirus virus infections recently topped the 100 million mark, according to a tally from Johns Hopkins University. That comes as new and more contagious virus mutations circulate and send infection rates surging.

Overnight on Wall Street, the S&P 500 dipped 0.2% to close at 3,849.57 while the Dow Jones Industrial Average declined 22.90 points to finish its trading day at 30,937.10. The Nasdaq Composite fell 0.1% to close at 13,626.06.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.204 following an earlier low of 90.153.

The Japanese yen traded at 103.66 per dollar, weaker than levels below 103.5 against the greenback seen last week. The Australian dollar changed hands at $0.7739 after rising from levels around $0.768 yesterday.

Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures up 0.77% to $56.34 per barrel. U.S. crude futures advanced 0.84% to $53.05 per barrel.

— CNBC's Silvia Amaro and Sara Salinas contributed to this report.

Mar 26, 2020

Asian Markets Closing Report: Japan shares drop more than 4% as investors await jobless claims data stateside

I am  being unable to publish the page in this blog relative to page: Asian Markets Closing Report, therefore, I am publishing this as a post, without getting any support at all from Google:

Eustance Huang


Stocks in Asia were mixed on Thursday as investors awaited the release of U.S. jobless claims data expected later in the day stateside.
Shares in Japan led losses among the region’s major markets, with the Nikkei 225 falling 4.51% to close at 18,664.60 as shares of index heavyweight Fast Retailing plunged 13.16% while the Topix index shed 1.78% to end its trading day at 1,399.32.
Mainland Chinese stocks slipped on the day, with the Shanghai composite 0.6% lower at about 2,764.91 and the Shenzhen composite shedding 0.799% to around 1,701.15. Hong Kong’s Hang Seng index also slipped 0.72%, as of their final hour of trading.
South Korea’s Kospi finished its trading day 1.09% lower at 1,686.24.
Meanwhile, the S&P/ASX 200 in Australia rose 2.3% to close at 5,113.30.
In Southeast Asia, the Straits Times Index in Singapore fell 1.34%. Singapore Airlines requested for a trading halt pending an upcoming announcement by the carrier, according to an update on the Singapore Exchange website. That comes days after the airline said it will be “cutting 96% of the capacity that had been originally scheduled up to end-April.”
The country’s Ministry of Trade and Industry said Thursday that the Singapore economy is now expected to shrink by between 1.0% and 4.0% this year. Official preliminary data showed Singapore’s economy contracting 2.2% in the first quarter from a year ago.
“We were all being prepared for a bad print and these numbers are obviously not great, but given the degree to which we seeing such a significant shutdown of economic activity across the board not just in Singapore but elsewhere around the world, these are the sorts of numbers that we’re gonna be seeing globally as data begins to start reflecting those constraints that we have to put on economies as we deal with the virus,” Stephen Davies, CEO of Javelin Wealth Management, told CNBC’s “Squawk Box” on Thursday.
“Prepare ourselves for some bad data because it’s certainly coming down the track,” Davies warned.
Overall, the MSCI Asia ex-Japan index rose 0.79%.
Investors awaited the release of U.S. initial jobless claims data, expected to be out around 8:30 p.m. HK/SIN on Thursday, which could provide clues to the economic impact of the coronavirus pandemic.
“We are now starting to get data prints that should begin the capture the new reality, on that score tonight’s US Jobless claims is the big data release,” Rodrigo Catril, senior foreign exchange strategist at National Australia Bank, wrote in a note.
“The US jobless claims figures for the week ending 21 March is expected to be very big, last week’s claims printed at 281k and the median estimate for the 21 March number is 1.5m,” Catril said. “There is a wide range of estimates out there — a couple of estimates as high as 4m and over a third of economist estimates above 2m.”
TICKERCOMPANYNAMEPRICECHANGE %CHANGE 
NIKKEINikkei 225 IndexNIKKEI18664.60-882.03-4.51
HSIHang Seng IndexHSI23352.34-174.85-0.74
ASX 200S&P/ASX 200ASX 2005113.30115.202.30
SHANGHAIShanghaiSHANGHAI2764.91-16.68-0.60
KOSPIKOSPI IndexKOSPI1686.24-18.52-1.09
CNBC 100CNBC 100 ASIA IDXCNBC 1007195.09-21.45-0.30

May 13, 2019

Asian Markets Closing Report on May 13, 2019 | Mainland Chinese shares slip amid US-China trade uncertainty

Eustance Huang



Mainland Chinese shares declined on Monday amid uncertainty on the U.S.-China trade front, after tariffs on Chinese goods were raised last Friday.
The Shanghai composite tumbled 1.21% to close at 2,903.71 and the Shenzhen component fell 1.43% to finish its trading day at 9,103.36. The Shenzhen composite slipped 1.076% to close at 1,551.75. They had soared last Friday despite the U.S. raising tariffs from 10% to 25% on $200 billion worth of Chinese goods.
Other major Asian markets also fell.
The Nikkei 225 in Japan declined 0.72% to close at 21,191.28, with shares of index heavyweight Softbank Group falling 3.25%. The Topix index also slipped 0.53% to finish its trading day at 1,541.14.
In South Korea, the Kospi fell 1.38% to close at 2,079.01, while Australia’s ASX 200 shed 0.21% to finish its trading day Down Under at 6,297.60.
“Lack of activity data and public holidays in some countries will make it a slow start of the week for Asian markets. But the risk-off continues with the escalation of US-China trade war after last Friday’s move by the US to raise tariffs on Chinese goods. All eyes are on China’s retaliation.,” Prakash Sakpal, Asia economist at Dutch bank ING, wrote in a note.
Markets in Hong Kong were closed on Monday for a holiday.
Futures also pointed to significant declines on Wall Street when they open later on Monday stateside. As of 12:10 a.m. ET Monday, the Dow Jones Industrial Average was poised to see an opening decline of more than 200 points.

Asia-Pacific Market Indexes Chart


TICKER COMPANY NAME PRICE CHANGE %CHANGE
NIKKEINikkei 225 IndexNIKKEI21191.28-153.64-0.72
HSIHang Seng IndexHSI28550.24239.170.84
ASX 200S&P/ASX 200ASX 2006297.60-13.30-0.21
SHANGHAIShanghaiSHANGHAI2903.71-35.50-1.21
KOSPIKOSPI IndexKOSPI2079.01-29.03-1.38
CNBC 100CNBC 100 ASIA IDXCNBC 1007905.52-46.96-0.59
In an interview with Fox News on Sunday, White House Economic Advisor Larry Kudlow said U.S. President Donald Trump and Chinese President Xi Jinping are likely to meet at the upcoming June G-20 summit in Japan.
Kudlow said the chances of such a meeting “were pretty good,” but he said there are “no concrete, definite plans” for when U.S. and Chinese negotiators will meet again.
Trade talks between U.S. and Chinese negotiators broke up on Friday without a trade agreement. The talks took place under the shadow of Trump’s threat to more than double the tariff rate to 25% on $200 billion of Chinese goods.
“It remains to be seen how the markets will react this week once they are back in full swing, but the news on the trade-tariff front is anything other than reassuring,” David de Garis, a director and senior economist at National Australia Bank, wrote in a morning note.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.315 after scaling highs above 97.6 last week.
The Japanese yen, widely viewed as a safe-haven currency, traded at 109.71 against the dollar after strengthening from levels above 110.4 in the previous week. The Australian dollar dropped to $0.6972, following highs above $0.702 seen last week.
Oil prices were higher in the afternoon of Asian trading hours, with the international benchmark Brent crude futures contract gaining 0.76% to $71.16 per barrel, while U.S. crude futures were 0.29% higher at $61.84 per barrel.

Source: CNBC

Mar 5, 2019

Asian Markets Closing Report | Asian markets mixed; China lowers its growth target

Eustance Huang



Markets in Asia were mixed by the end of Tuesday, with China announcing at its annual parliamentary meeting that it has cut its growth target.
Shares in mainland China were higher, with the Shenzhen component rising 2.252 percent to 9,595.74 and the Shanghai composite advancing 0.88 percent to 3,054.25. The Shenzhen composite advanced 2.282 percent to 1,635.98.
Hong Kong’s Hang Seng index was around 0.1 percent higher, as of its final hour of trading.
China kicked off its annual parliamentary meeting, the National People’s Congress, on Tuesday where Premier Li Keqiang said the country must be prepared for a “tough struggle” as it faces a “grave and more complicated environment.”
Official economic growth target this year, he said, will be 6.0 to 6.5 percent, lower than the growth of 6.6 percent in 2018, the slowest pace since 1990.
“I think the bigger point here is that they’re trying to essentially avoid crashing the economy with excess debt while avoiding a very severe downturn in economic activity,” Andrew Collier, managing director at Orient Capital Research, told CNBC’s “Street Signs” on Tuesday.
“A combination of domestic stimulus and a trade deal with the US over the next few weeks could be the shot in the arm the Chinese economy needs and lead to a dramatic increase in investor sentiment globally,” analysts at Rakuten Securities Australia said in a note. “At the moment we’re still in a ‘wait and see’ situation but this week could see the first part of that equation put in place.”
Elsewhere in Asia, other major stock markets closed lower: Japan’s Nikkei 225 slipped 0.44 percent to 21,726.28, as shares of index heavyweight Softbank Group declined 1.78 percent, while the Topix shed 0.51 percent to 1,619.23.
The Kospi in South Korea fell 0.52 percent to 2,179.23, with chipmaker SK Hynix seeing its stock slip 0.57 percent.
In Australia, the ASX 200 shed 0.29 percent to 6,199.30, with majority of the sectors lower on the day. The moves Down Under came after the country’s central bank announced it was keeping interest rates steady at 1.50 percent.
The Australian dollar was at $0.7076 following the Reserve Bank of Australia’s interest rate decision after touching an earlier high of $0.7096.

Asia-Pacific Market Indexes Chart

TICKERCOMPANYNAMEPRICECHANGE%CHANGE
NIKKEINikkei 225 IndexNIKKEI21726.28-95.76-0.44
HSIHang Seng IndexHSI28961.602.010.01
ASX 200S&P/ASX 200ASX 2006199.30-18.10-0.29
SHANGHAIShanghaiSHANGHAI3054.2526.670.88
KOSPIKOSPI IndexKOSPI2179.23-11.43-0.52
CNBC 100CNBC 100 ASIA IDXCNBC 1007969.72-10.27-0.13
Wall Street declined
Overnight on Wall Street, stocks declined as the S&P 500 shed 0.4 percent to finish its trading day at 2,792.62, falling back below the 2,800 level it breached last Friday — its highest close since Nov. 8. The Dow dropped 206.67 points to close at 25,819.65, while the Nasdaq Composite declined 0.2 percent to finish its trading day at 7,577.57.
The declines stateside were attributed to the possibility that optimism over a trade deal being reached between the U.S. and China was already priced by the markets.
“We have some sympathy for this view, though wouldn’t underestimate Mr. Market’s ability to discount the ‘same news twice’ if and when a deal is done in,” Ray Attrill, head of foreign exchange strategy at National Australia Bank, said in a morning note.
“In this respect, one still-nagging doubt on a trade deal surrounds Huawei, where the apparent response to the weekend news that Canada has agreed to extradite the Chinese technology behemoth’s CFO to the United States, has been to accuse the two Canadians detained by China last month soon after the arrest of the Huawei CFO of spying,” Attrill said.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.771 after seeing lows around 96.3 yesterday. The Japanese yen traded at 111.92 against the dollar after seeing an earlier high of 111.70.
Oil prices slipped Tuesday afternoon during Asian hours, with the international benchmark Brent crude futures contract declining 0.46 percent to $65.37 per barrel. U.S. crude futures also slipped 0.53 percent to $56.29 per barrel.
— CNBC’s Evelyn Cheng contributed to this report.

Source: CNBC

Feb 12, 2019

Asian Markets Closing Report: Stocks in Asia mostly higher; Japan jumps more than 2 percent

Eustance Huang







Stocks in major Asian stock markets closed higher on Tuesday, with stocks in Japan leading in the region.
Japan's Nikkei 225 jumped 2.61 percent to close at 20,864.21, while the Topix gained 2.16 percent to finish its trading day at 1,572.60. Shares of Fast Retailing rose 3.01 percent while chip company Renesas Electronics skyrocketed 16.26 percent.
Mainland Chinese markets were higher in the day. The Shenzhen component rose 1.149 percent to close at 8,010.07 while the Shenzhen composite advanced 1.203 percent to finish its trading day at 1,364.15. The Shanghai composite also went up 0.68 percent to close at 2,671.89.
Hong Kong's Hang Seng index was largely flat, as of its final hour of trading.
South Korea's Kospi gained 0.45 percent to close at 2,190.47, as shares of industry heavyweight Samsung Electronics and chipmaker SK Hynix jumped 2.33 percent and 2.43 percent, respectively. LG Electronics gained 3.75 percent.
The ASX 200 in Australia recovered from its earlier dip to close 0.3 percent higher at 6,079.10 as the sectors mostly rose. The energy subindex gained 1.22 percent as shares of oil companies advanced. Santos was up 1.89 percent, Woodside Petroleum advanced 0.58 percent and Beach Energy rose 2.11 percent.
NIKKEI Nikkei 225 Index 20864.21 531.04 2.61%
HSI Hang Seng Index 28171.33 27.49 0.10%
ASX 200 S&P/ASX 200 6079.10 18.30 0.30%
SHANGHAI Shanghai 2671.89 18.00 0.68%
KOSPI KOSPI Index 2190.47 9.74 0.45%
CNBC 100 CNBC 100 ASIA IDX 7831.29 58.30 0.75%

Looming US-China trade talks weigh

Markets overnight on Wall Street were tepid, as investors considered the possibility of a trade deal being struck between the U.S. and China. Officials from Washington and Beijing will continue talks this week with a focus on intellectual property.
"I think the most likely scenario is a deal with no more tariffs being imposed going forward," David Cui, head of China equity strategy at Bank of America Merrill Lynch, told CNBC's "Street Signs" on Tuesday.
"There's a possibility they keep existing tariffs imposed last year for a while to monitor performance, but I think (it is) highly unlikely there will be more tariffs imposed. It's also possible to delay the negotiation for a couple of more months to nail down some of the details. I think the least likely scenario is a ... complete breakdown of the negotiation," he added.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.012 after seeing a high around 97.1 yesterday.
The Japanese yen traded at 110.49 against the dollar after seeing an earlier low of 110.64. The Australian dollar was at $0.7084 after touching an earlier low of $0.751.
Oil prices gained in the afternoon of Asian trade. The international benchmark Brent crude futures contract rose 0.47 percent to $61.80 per barrel. U.S. crude futures advanced 0.34 percent to $52.59 per barrel.
— Reuters and CNBC's Fred Imbert contributed to this report.

SOURCE: CNBC

Feb 1, 2019

Asian Markets Closing Report: Chinese stocks jump amid trade optimism; manufacturing data disappoints

Eustance Huang



Stocks in China saw strong gains on the first trading day of February as hopes rise for a U.S.-China trade deal. However, the country’s manufacturing data came in below expectations.
Mainland Chinese markets saw gains on the day, as the Shanghai composite rose 1.3 percent to close at around 2,618.23 while the Shenzhen component jumped 2.738 percent to finish its trading day at about 7,684.00. The Shenzhen composite also climbed higher by 2.765 percent to close at approximately 1,309.99.
Hong Kong’s Hang Seng index slipped 0.23 percent, in the final hour of trade.
A private survey on China’s manufacturing sector on Friday showed that factory activity contracted in January. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 48.3 in January, compared to 49.7 in December. Analysts polled by Reuters had expected the Caixin PMI to be 49.5 last month.
“The terrible decline in the Caixin PMI index from 49.7 in December to only 48.3 in January shows just how important it is for China and the US to secure a trade deal. If nothing else, a deal should prevent the near-term imposition of higher tariffs,” Robert Carnell, ING’s chief economist and head of research for Asia Pacific, said in a note.
Elsewhere in Asia, the mood appeared more cautious.
Japan’s Nikkei 225 closed slightly higher at 20,788.39 while the Topix index shed 0.18 percent to finish its trading day at 1,564.63, as shares of Fast Retailing advanced 1.97 percent. Nintendo, however, plunged 9.19 percent after the company cut its sales forecast for the Switch game console in the fiscal year ending March 2019.
South Korea’s Kospi closed slightly lower at 2,203.46.
In Australia, the ASX 200 ended its trading day largely flat at 5,862.8. The materials subindex advanced 0.34 percent as shares of major miners rose. Rio Tinto was up 0.6 percent, Fortescue Metals Group jumped 3.36 percent and BHP Billiton gained 0.49 percent.

Asia-Pacific Market Indexes Chart


TICKERCOMPANYNAMEPRICECHANGE%CHANGE
NIKKEINikkei 225 IndexNIKKEI20788.3914.900.07
HSIHang Seng IndexHSI27930.74-11.73-0.04
ASX 200S&P/ASX 200ASX 2005862.80-1.90-0.03
SHANGHAIShanghaiSHANGHAI2618.2333.661.30
KOSPIKOSPI IndexKOSPI2203.46-1.39-0.06
CNBC 100CNBC 100 ASIA IDXCNBC 1007830.84-11.09-0.14
US-China trade hopes
U.S. President Donald Trump told reporters in the Oval Office on Thursday that he hoped to strike a deal with China before the March deadline. Trump also said Chinese President Xi Jinping told him in a letter that he hopes both sides will be able to meet each other halfway on a trade agreement before the deadline.
The comments came on the same day that the U.S. and China concluded two days of high-level negotiations in Washington.
Two sources also told CNBC on Thursday that U.S. and Chinese officials are talking about arranging a meeting between Trump and Xi for late February.
Meanwhile, stocks stateside closed out their best January in three decades amid strong earnings. The S&P 500 jumped 7.87 percent, its best January performance since 1987, while the Dow Jones Industrial Average soared 7.17 percent in the month — its biggest January gain in 30 years.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 95.591 after seeing lows above 95.1 yesterday.
The Japanese yen traded at 108.93 against the dollar after seeing highs around 108.5 yesterday. The Australian dollar changed hands at $0.7242 after touching an earlier high of $0.7278.
Oil prices saw some gains in the afternoon of Asian trade. The international benchmark Brent crude futures contract rose 0.18 percent to $60.95 per barrel while U.S. crude futures was largely flat at $53.81 per barrel.
— CNBC’s Fred Imbert and Yen Nee Lee contributed to this report.

Source: CNBC

Jan 11, 2019

How did Asia Closed Today? Asian Markets Closing Report: Asia stocks mostly higher amid improving investor sentiment following US gains

I ' am going to take advantage of the few hours I have Left to inform most relevance news I have before the maintenance takes place, as I announced to you yesterday night.

Thank you very much for your comprehension.


                                                FGC /.                        
                                            
     


                                                                     ASIA

Eustance Huang




Asia stocks mostly gained Friday amid improved investor sentiment following overnight gains on Wall Street.
The mainland Chinese markets, watched in relation to the ongoing trade war between Beijing and Washington, were higher on the day. The Shanghai composite was up about 0.74 percent to close around 2,553.83 while the Shenzhen composite gained 0.758 percent to about 1,313.36. The Shenzhen component also rose 0.611 percent to close around 7,474.01.
Meanwhile, Hong Kong’s Hang Seng index gained about 0.5 percent, as of its final hour of trade.
The moves followed after officials from Washington and Beijing met for trade talks earlier this week — details about the progress were sparse. U.S. and China have halted an ongoing trade war to try and resolve sticking issues on a number of areas. Analysts who spoke to CNBC on Friday were divided whether a deal between the two economic powerhouses would be forthcoming.
“I think (U.S. President Donald) Trump wants to have a win and (Chinese leader) Xi Jinping desperately needs to have a win. So, I think they’re gonna come to some agreement ... probably in the first quarter, ” Andrew Collier, managing director at Orient Capital Research, told CNBC’s “Street Signs ” on Friday.
Collier said, however, trade frictions between Washington and Beijing are unlikely to end as “China clearly ... is a threat to the United States and plus it has done many things that many countries disagree with.”
Others did not agree.
“There are some that would argue that the Trump administration needs a deal, given that they’re walking into an election cycle in 2020 ... I would respectfully disagree,” James Sullivan, head of equity research ex-Japan at J.P. Morgan, said. “What the Trump administration needs to do is incite his base. A deal, by definition, means compromise. Compromise doesn’t incite.”
Rest of Asia mostly gains
Elsewhere in Asia, Japan’s Nikkei 225 rose 0.97 percent to close at 20,359.70 while the Topix index gained 0.51 percent to finish its trading week at 1,529.73.
Shares of Fast Retailing, the company behind the Uniqlo chain of apparel stores, surged 6.19 percent despite reporting a more than 8 percent decline in its year-on-year operating profit for the three months ended Nov. 30.
“The results were terrible ... probably the worst in the sector and it’s the most expensive stock in the sector ... and it’s going up,” Michael Allen, senior vice president of research of Japanese retailers at Jefferies, told CNBC on Friday about Fast Retailing.
He said the company “made horrible mistakes,” beyond just poor weather, which it attributed to explain the lackluster sales figures.
“They knew the weather was gonna be a problem going into this quarter and they picked up massive amounts of inventory and now they’re having to discount it and the second quarter’s going to be worse domestically,” he warned.
Meanwhile, former Nissan Chairman Carlos Ghosn was indicted on two new charges of financial misconduct on Friday. The former auto industry giant had denied earlier charges that had been laid against him during a court appearance this week. Shares of Nissan gained 0.86 percent on the day.
The upward moves in Japan followed even as government data revealed Japanese household spending for November declined more than expected. It fell 0.6 percent compared to a year earlier — economists in a Reuters poll were expecting a drop of 0.1 percent.
South Korea’s Kospi also rose 0.6 percent to close at 2,075.57.
Australia’s ASX 200, however, closed 0.36 percent lower at 5,774.60.
Data released by the Australian Bureau of Statistics Friday morning showed that seasonally adjusted retail sales in the country was up 0.4 percent in November from a month earlier, beating a Reuters poll that predicted a 0.3 percent gain.
Shares of retailers in the country were mixed on the back of that data release; Wesfarmers was marginally lower and Woolworths slipped 0.77 percent. JB Hi-Fi, on the other hand, added 2.57 percent.
“Retail Sales data around this time of year are particularly interesting as consumer spending patterns have been shifting,” Ray Attrill, head of foreign exchange strategy at National Australia Bank, said in a morning note.
He cited the rise of sales days such as Black Friday and Cyber Monday as resulting in households pushing their Christmas and Boxing Day expenditure forward into November.

Asia-Pacific Market Indexes Chart

TICKERCOMPANYNAMEPRICECHANGE%CHANGE
NIKKEINikkei 225 IndexNIKKEI20359.70195.900.97
HSIHang Seng IndexHSI26667.27145.840.55
ASX 200S&P/ASX 200ASX 2005774.60-20.70-0.36
SHANGHAIShanghaiSHANGHAI2553.8318.730.74
KOSPIKOSPI IndexKOSPI2075.5712.290.60
CNBC 100CNBC 100 ASIA IDXCNBC 1007582.7743.500.58
Dow and S&P 500 on a five-day winning streak
Overnight on Wall Street, the Dow Jones Industrial Average and S&P 500 both notched gains, putting them on a five-day winning streak. The Dow added 122.80 points to close at 24,001.92 while the S&P 500 advanced 0.4 percent to finish its trading day at 2,596.64. The Nasdaq Composite also rose 0.4 percent to close at 6,986.07.
The U.S. moves came despite Federal Reserve Chairman Jerome Powell voicing concern over increasing U.S. debt.
“I’m very worried about it,” Powell said at The Economic Club of Washington, D.C. “From the Fed’s standpoint, we’re really looking at a business cycle length: that’s our frame of reference. The long-run fiscal, nonsustainability of the U.S. federal government isn’t really something that plays into the medium term that is relevant for our policy decisions.”
However, “it’s a long-run issue that we definitely need to face, and ultimately, will have no choice but to face,” he added.
The Fed chief’s comments came as the annual U.S. deficit reaches new sustained highs above $1 trillion, a fact many economists worry could spell trouble for future generations. Annual deficits have topped $1 trillion before, but never during a time of sustained economic growth such as now, raising concern about what would happen if a recession hits.
Currencies
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 95.365 after seeing an earlier low around the 95 handle yesterday.
The Japanese yen, widely viewed as a safe-haven currency, traded at 108.38 to the dollar after seeing highs below 108 yesterday. The Australian dollar was at $0.7212 after seeing lows above $0.714 in the previous session.
— Reuters and CNBC’s Thomas Franck contributed to this report.

Source: CNBC

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