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Asian stocks are mixed, Europe rises after Wall Street falls | Business

Bangkok (AP) — Shares rose in Europe on Friday after a mixed day of trading in Asia where the risk of an increase in coronavirus cases and the risk of a pandemic recovery weighed heavily on sentiment.

Stock prices rose in Paris, Frankfurt and Hong Kong, but fell in Tokyo, Seoul and Shanghai. US futures have risen, but oil prices have fallen.

The Bank of Japan kept its policy setting on Friday, but lowered its growth forecast for the year from 3.5% -4.4% to 3.5% -4%. He said the outlook for the world’s third-largest economy was “very uncertain” and depended on how the situation at COVID-19 evolved.

Tokyo reported a number of new cases for six months on Thursday, 1,308, just over a week before the Olympics were scheduled to begin a year later than originally planned due to a pandemic. Many people in Japan are worried that the Olympics will increase the risk of further outbreaks when the delta variant of COVID-19 is causing a relapse worldwide, as most of the population is not fully vaccinated. doing.

In European trade, Germany’s DAX was up 0.2% to 15,662.78 and Paris’ CAC 40 was up 0.3% to 6,515.42. The UK’s FTSE 100 jumped 0.6% to 7,050.95.

The future of the Dow Jones Industrial Average rose 0.1%, but the future of the S & P 500 remained almost unchanged.

Tokyo’s Nikkei 225 index fell 1% to 28,003.08, and Seoul’s Kospi fell 0.3% to 3,276.91. The Shanghai Composite Index fell 0.7% to 3,539.30. Hong Kong’s Hang Seng Index rose 0.3% to 28,072.66. In Australia, the S & P / ASX 200 rose 0.2% to 7,348.10.

In addition to uncertainty, President Joe Biden told reporters Thursday that as China cracked down on political and economic freedom within its territory, the risks of his administration doing business in Hong Kong were all-out to US companies. He said he was preparing to issue a warning.

US officials say the recommendation could be issued soon this week.

On Thursday, major US stock indexes almost closed, further pulling back from record highs reached earlier in the week.

The S & P 500 fell 0.3% to 4,360.03, on track for its first weekly loss in four weeks.

Technology-intensive Nasdaq fell 0.7% to 14,543.13. The Dow Jones Industrial Average rose 0.2% to 34,987.02. Russell 2000 Index small caps fell 0.6% to 2,190.29.

Investors are watching what companies have to say about where the economy is heading as the pandemic weakens and how rising inflation is affecting businesses.

Chairman of the Federal Reserve Board on Thursday Jerome Powell testified for the second day Before the parliament. He reiterated that signs of inflation should ease or reverse over time as the United States emerges from an unparalleled economic resumption following a pandemic-induced recession.

New data on unemployment benefits applications show that the labor market continues to improve.Ministry of Labor said on Thursday Unemployment allowance Last week it fell by 26,000 to 360,000, the lowest level since last year’s pandemic.

Many companies will start reporting next week when the earnings season is in full swing.

Yields on 10-year Treasuries rose from 1.30% late Thursday to 1.33%.

In another Friday trade, US benchmark crude fell 6 cents in electronic commerce on the New York Mercantile Exchange to $ 71.59 a barrel. It gave up $ 1.48 to $ 71.65 per barrel on Thursday. Brent crude, the international price standard, fell 8 cents per barrel to $ 73.39.

The US dollar rose from 109.85 yen to 110.19 yen. The euro fell from $ 1.1813 to $ 1.1801.

Copyright 2021 AP communication. all rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.

Asian stocks are mixed, Europe rises after Wall Street falls | Business

Source link Asian stocks are mixed, Europe rises after Wall Street falls | Business

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