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Asian stocks have almost fallen after a modest rise on Wall Street | Associated Press

Tokyo (AP) — Asian stocks fell almost on Friday as investors saw the war in Ukraine and what the world’s central banks might do to curb inflation.

Benchmarks fell in Tokyo, Seoul, Hong Kong and Shanghai, and Sydney moved forward. Oil prices have fallen.

Investors are looking for updates from the Federal Reserve Board amid concerns about rising inflation. The Federal Reserve has shown that it is ready to continue raising interest rates and reduce its stockpile of bonds and mortgage-backed securities to curb the highest inflation in 40 years.

“The global desire for short-term risk remains uncertain, and hawkish central banks are focusing on sentiment. The situation between Ukraine and Russia continues to be headwinds, and markets are now current. We’re just looking for a big breakthrough to adjust pricing, “Activ Trades Anderson Alves said in a comment.

Japan’s benchmark Nikkei 225 fell 0.3% in the morning trading to 26,801.26. South Korea’s Kospi fell 0.2% to 2,691.41. Australia’s S & P / ASX 200 was up 0.6% to 7,490.70. Hong Kong’s Hang Seng Index fell 0.6% to 21,689.38 and the Shanghai Composite Index fell 0.1% to 3,234.54.

On Wall Street, a late afternoon rebound was led by a tech company. The S & P 500 rose 0.4% to 4,500.21, the first rise after a two-day downturn. The Benchmark Index is keeping pace with its weekly losses for the first time in four weeks.

The Dow Jones Industrial Average rose 0.3% to 34,583.57. The Nasdaq Composite Index was 13,897.30, up 0.1%.

Rob Howarth, Senior Investment Strategist at US Bankwealth Management, said:

Telecommunications services stocks were one of the largest weights on the market. Twitter was down 5.4%. Computer and printer maker HP surged 14.8% for the S & P 500’s biggest profits, second only to Warren Buffett. Berkshire Hathaway disclosed 11% stake At the company.

Yields on 10-year Treasuries rose from 2.61% late Wednesday to 2.65%.

Central banks are turning away from low interest rates and the extraordinary support they began to provide to the economy two years before the pandemic plunged the economy. It has already announced a quarter percentage increase and is expected to continue raising interest rates throughout the year.

Traders are currently pricing nearly 80 percent with the Fed’s probability of raising key overnight rates by 0.5 percentage points at its next meeting in May. This is twice as normal and the Fed hasn’t done it since 2000.

Sustainably rising inflation threatens economic growth. Business is raising prices Everything from food to clothing, and it puts more pressure on consumers. Some companies were unable to offset the effects of inflation in the face of price increases.

Wall Street is worried that consumers will eventually pull back spending, as higher prices will be too difficult to digest. Price increases were responsible for the rise in consumer spending in March, or the results revealed a setback.

A sharp rise in interest rates can also affect a company’s earnings growth, but it depends on how aggressive the Fed is.

Russia invades Ukraine Concerns about inflation have also been added. Energy prices are particularly volatile, pushing up gasoline prices.

US benchmark crude oil fell 42 cents to $ 95.61 a barrel in electronic trading on the New York Mercantile Exchange. It decreased by 0.2% on Thursday, but increased by about 31% annually. Brent crude, the international standard for pricing, gave up 61 cents to $ 99.97 a barrel.

Investors received promising updates on Thursday’s job market.The U.S. Department of Labor reported that few Americans applied Unemployment allowance Layoffs have historically remained at low levels, so last week.

In currency trading, the dollar was flat at 123.97 yen. The euro has risen from $ 1.0861 to $ 1.0882.

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.

Asian stocks have almost fallen after a modest rise on Wall Street | Associated Press

Source link Asian stocks have almost fallen after a modest rise on Wall Street | Associated Press

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