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Asian stocks almost fall after mixed days on Wall Street | Work

Asian stocks fell almost on Wednesday after a weak session on Wall Street, where weak employment data and pandemic concerns weighed heavily on sentiment.

Tokyo stocks rose after the April-June quarter economic growth was revised upward from an earlier estimate of 1.3% to an annual rate of 1.9%.

“It was less than half of the 4.20% decline in the first quarter, so the pleasing factors were ignored,” Oanda’s Jeffrey Halley said in a comment. -19 Waves will almost certainly put pressure on domestic consumption. “

The ruling Liberal Democratic Party is planning to elect a new prime minister to replace Yoshihide Suga, and although future policies are uncertain, new economic stimulus measures are expected in the coming weeks.

Japan’s Nikkei 225 index rose 0.5% to 30,070.19, and Hong Kong’s Hang Seng index fell 0.5% to 26,236.74. The Shanghai Composite Index gave up 0.3% to 3,666.22. In Seoul, Kospi was down 0.9% to 3,158.63. Australia’s S & P / ASX 200 fell 0.4% to 7,504.30, with benchmarks down in Taiwan and Singapore.

In New York, profits from some big tech companies pushed the Nasdaq Composite slightly higher to another record, but benchmark S & P 500 fell 0.3%, breaking two-week profits. The 30 Dow Jones Industrial Averages fell 0.8%.

Stock prices fell as traders returned to relatively light weekly economic data from Labor Day holiday weekends. The last big economic snapshot, the August employment report, was weaker than expected last Friday.

“I’m struggling to understand everything, but I’m worried that the US market is a little less vibrant than expected to recover after a pandemic,” Harry said.

The S & P 500 fell 15.40 points to 4,520.03. The Dow Jones Industrial Average fell 269.09 points to 35,100, and the technology-intensive Nasdaq Composite index rose 0.1% to 15,374.33, a record high for the fourth consecutive year.

SME stocks have fallen. The Russell 2000 Index was down 0.7% to 2,275.61.

Rising bond yields helped bank stocks. Yields on 10-year government bonds rose from 1.32% on Friday to 1.37%. Bank of America rose 0.7%.

Industrial stocks were one of the biggest declines in the S & P 500. Deere & Co. Was down 4.5% and 3M was down 8.8%.

Volatility will rise in the coming days after stocks soar throughout the summer, helped by higher-than-expected earnings from large corporations and guidance from the Federal Reserve Board, which central banks plan to maintain low interest rates. Expected to recover in a few weeks.

Investors have several economic reports on taps this week.

On Wednesday, the Ministry of Labor will report a July job offer. Employment markets are still struggling to recover from a pandemic, employers find it difficult to fill openings in protracted health concerns, and the resurgence of the virus could make it even more difficult. I feel it.

Investors will get another up-to-date on inflation when the Ministry of Labor reports on inflation at the wholesale level on Friday before costs are passed on to consumers.

In other trades, benchmark US crude rose 14 cents to $ 68.49 a barrel. It fell 94 cents to $ 68.35 a barrel on Tuesday. Brent crude, the international standard for oil prices, rose two cents to $ 71.71 a barrel.

The dollar remained almost unchanged from 110.29 yen to 110.35. The euro remained unchanged at $ 1.1842.

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Asian stocks almost fall after mixed days on Wall Street | Work

Source link Asian stocks almost fall after mixed days on Wall Street | Work

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