Asian markets are mixed as investors wait for US inflation | WGN Radio 720

On Thursday, December 9, 2021, a currency trader is walking on a screen showing the exchange rates between the US dollar and the Korean won at the Forex Trading Office in Seoul, South Korea. (AP Photo / Lee Jin-man)

Beijing (AP) — Asian stock markets were mixed Thursday as investors were waiting for US inflation data that could influence the Federal Reserve’s decision on when to roll back economic stimuli. ..

Shanghai, Hong Kong and Seoul have advanced. Tokyo and Sydney declined.

Wall Street rose on Wednesday on the third day as anxiety about the Omicron variant of the coronavirus eased.

Traders look forward to Friday’s report on US consumer inflation in November, showing whether the FRB will feel more pressure to lower prices by rolling back stimuli to boost stock prices.

The Federal Reserve Board will meet last week in 2021. They said they were ready to act as needed after inflation reached a high of 6.2% in October for the first time in 30 years.

“Friday inflation will definitely come to mind,” Fed officials said in a report, Matt Weller of StoneX Financial. The number in the headline is “expected to rise further.”

China reported Thursday that inflation in prices paid by factories for parts and raw materials in November eased from its 25-year highs last month. Due to China’s role as a global manufacturing center, traders see it as a possible guide to inflation in the United States.

The Shanghai Composite Index rose 1.1% to 3,676.71 after a drop in producer prices from 13.5% in October to 12.9% a year ago as coal and metal prices fell. This gives China’s central bank room to support economic growth with simpler credit as needed.

The Nikkei 225 in Tokyo fell 0.3% to 28,779.66, and the Hang Seng Index in Hong Kong rose 1% to 24,225.09.

Seoul’s Kospi rose 0.5% to 3,016.10 and Sydney’s S & P-ASX rose 0.2% to 7,394.60.

India’s Sensex fell 0.2% to 58,515.65. New Zealand and Bangkok decreased, but Singapore and Jakarta increased.

On Wall Street, the benchmark S & P 500 index rose 0.3% to 4,701.21. It is increasing by 25.2% annually. Approximately 62% of the index’s stock has advanced.

The Dow Jones Industrial Average rose 0.1% to 35,754.75. The Nasdaq Composite Index rose 0.6% to 15,786.99.

Markets have fallen in the last two weeks due to inflation and concerns about Omicron variants. Shares have stabilized after Dr. Anthony Fauci, White House Chief Medical Advisor, and early signs of Monday suggest that they may be less dangerous than previous Delta variants. ..

The airlines and cruise lines acquired by sign investors are unlikely to be travel bans.

Norwegian Cruise Line surged 8.2%, making the biggest profit on the S & P 500. United Airlines rose 4.2%.

Apple was up 2.3%, while other big tech companies were down. Chip maker Nvidia fell 1.9% and rival Intel fell 1.6%.

In the energy market, electronic trading on the New York Mercantile Exchange raised benchmark US crude oil by 71 cents to $ 73.07 per barrel. The deal rose 31 cents to $ 72.36 on Wednesday. Brent crude, the international oil price standard, rose 62 cents in London to $ 76.44 a barrel. In the previous session, it rose 38 cents to $ 75.82.

The dollar fell from 113.67 yen on Wednesday to 113.62 yen. The euro fell from $ 1.1349 to $ 1.1333.

Asian markets are mixed as investors wait for US inflation | WGN Radio 720

Source link Asian markets are mixed as investors wait for US inflation | WGN Radio 720

Related Articles

Back to top button