After a wobble day on Wall Street, Asia’s share is almost high | Associated Press

Asian stocks recorded a modest rise on Thursday after tech stocks sold the day before and Wall Street stabilized.

Tokyo’s Nikkei 225 rose 1% to 26,642.88 after the Bank of Japan closed its policy meeting without major changes, zero despite the sharp depreciation of the yen against the dollar and rising costs of many imported commodities. Maintained a stance close to interest rates.

After the BOJ’s policy announcement, the dollar rose to 129.70 yen. This shows that the central bank remains determined to keep lending conditions very slow to support the economic downturn. It was trading at 128.43 yen late Wednesday.

The Federal Reserve has begun raising interest rates to counter rising inflation, and investors are selling yen to seek higher returns on dollar-denominated assets.

China’s benchmark has recovered from a sharp dip as authorities highlighted efforts to counter the effects of a pandemic shutdown in many cities.

The Shanghai Composite Index rose 0.6% to 2,975.28, and the Hang Seng Index in Hong Kong rose 1.4% to 20,218.39.

Strict China’s blockade measures There is growing concern about slowing growth due to the impact on the world’s second-largest economy. Access to Shanghai, home of the world’s busiest port, and other industrial cities such as Changchun and Jilin in northeastern China has been suspended, disrupting the flow of industrial products.

Beijing is conducting a mass test this week to determine how much regulation it will impose on its capital.

Elsewhere, Kospi in Seoul added 0.5% to 2,953.09. Australia’s S & P / ASX 200 surged 1% to 7,333.50.

Wall Street ended poorly on Wednesday as traders prepared for more earnings reports from major US companies this week.

The S & P 500 saw most of the noon rally evaporate, ending with a rise of only 0.2% at 4,183.96. The Dow Jones Industrial Average also rose 0.2% to 33,301.93. The Nasdaq was barely changed at 12,488.93, while the Russell 2000 was down 0.3% to 1,884.04.

The index recovered to a strong finish at the end of Monday and fell on Tuesday. So far this week, everything has fallen by more than 1.5%.

Software giant Microsoft has risen 4.8% after reporting strong profits in the last quarter.Payment processing giant visa It increased by 6.5% after reporting a surge in profits due to a significant increase in spending on the credit and debit card networks of the same name.

Google’s parent company AlphabetDecreased 3.7% after recording the slowest quarterly revenue growth since 2020. Facebook’s parent company Meta PlatformsAfter the latest quarterly earnings, which exceeded Wall Street estimates, after-hours trading surged 14.6%.

Investors also focused on returns from industrial companies and various retailers. Boeing It fell 7.5% after reporting a much worse loss than Wall Street expected. After reporting strong performance, Chipotle rose 2.6%.

Twitter, Apple and Amazon will report results on Thursday.

The latest corporate profits are expected as central banks plan to raise interest rates to mitigate the impact of rising costs on businesses and consumers amid prolonged concerns over rising inflation. Investors see how businesses have progressed in the face of supply chain problems and rising costs, and how consumers are dealing with higher prices for everything from food to clothing to gas. I am studying.

In Europe, natural gas prices soared 24% from the previous day, after which the euro fell. Russia said it would cut off supply To Poland and Bulgaria. Natural gas and oil prices had already risen as the pandemic eased and demand increased, but Russia’s invasion of Ukraine has increased prices. Crude oil and natural gas prices soared in 2022, pushing up gasoline and heating costs.

Crude oil prices fell on Thursday. US benchmark crude fell from $ 1.27 to $ 100.75 per barrel in electronic trading on the New York Mercantile Exchange. It was $ 102.02 a barrel, up 32 cents on Wednesday.

Brent crude, the international oil price standard, fell from $ 1.41 to $ 103.54 per barrel.

The euro fell from $ 1.0560 to $ 1.0540.

Contributed by AP business writers Damian J. Troise and Alex Veiga.

Copyright 2022 AP communication. all rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.

After a wobble day on Wall Street, Asia’s share is almost high | Associated Press

Source link After a wobble day on Wall Street, Asia’s share is almost high | Associated Press

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