Beijing (AP) — Asian stock markets were mixed on Monday after Taiwan and Singapore tightened anti-coronavirus regulations and Wall Street turned to its largest weekly decline in three months.
Shanghai and Hong Kong have advanced, but Tokyo and Seoul have declined.
Wall Street’s Benchmark S & P 500 Index rose on Friday, but fell 1.4% during the week.
Taiwan and Singapore have announced weekend rallies and other regulatory restrictions following the rise of new infectious diseases, and are concerned that the region’s economic recovery may be delayed.
“Concerns about the resurgence of the virus can be protracted in the region,” IG’s Yeap Jun Rong said in a report.
The Shanghai Composite Index rose 1% to 3,524.04 after the Chinese government reported in April that retail spending, factory output and investment growth slowed from its previous explosive rate.
The Nikkei 225 in Tokyo fell 0.8% to 27,867.96, and the Hang Seng Index in Hong Kong rose 0.6% to 28,204.14.
Seoul’s Kospi was down 0.4% to 3,139.93, and Sydney’s S & P-ASX 200 was up 0.3% to 7,036.70.
India’s Sensex opened 1% at 49,207.64. New Zealand and Singapore rose, Bangkok and Jakarta retreated.
180 new coronavirus cases in Taiwan and 15 new coronavirus cases in Singapore were modest compared to the thousands in India. But the economic recovery, which seemed to control the disease, raised concerns. Malaysia, Thailand and the Philippines have re-imposed regulations early in response to increasing infections.
Thailand, which had largely controlled the outbreak by effectively closing its borders and imposing forced quarantine, reported about 10,000 newly confirmed cases on Monday. About two-thirds of them were in jail.
“We don’t have much time to put this in the bud before dealing with a situation like India,” ING’s Robert Kernel said in a report. The economic impact “depends heavily on the success of the measures currently in place.”
The rise on Wall Street on Friday was led by tech stocks. Retailers, banks and industrial stocks also rose.
The S & P 500 rose 1.5% to 4,173.85. The Dow Jones Industrial Average rose 1.1% to 34,382.13, down 1.1% this week. The Nasdaq rose 2.3% to 13,429.98, losing 2.3% each week.
It followed a three-day mass sale driven by investor concerns about the potential for rising inflation in the United States. Major indices hit record highs last week.
Apple, Microsoft, Facebook, Amazon.com And all of Google’s parent companies have risen by more than 1%.
Government data on Friday showed that US retail spending was stable in April at the level of the previous month, which was below expectations of a 1% increase compared to March.
In the energy market, electronic trading on the New York Mercantile Exchange raised benchmark US crude oil by 3 cents to $ 65.40 a barrel. The deal rose $ 1.55 on Friday to $ 65.37. In London, Brent crude, which was used to price international oil, fell three cents to $ 68.68 a barrel. The last session was $ 68.71, up $ 1.66.
The dollar was stable at 109.36 yen. The euro fell from $ 1.2143 to $ 1.2129.
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Asian stocks mixed after antivirus suppression in Taiwan and Singapore | Business
Source link Asian stocks mixed after antivirus suppression in Taiwan and Singapore | Business