Asian markets bounce back from Wall Street slide

0
90


Asian stock markets were mostly higher on Friday after Wall Street closed due to uncertainty over the US economic outlook.
Overnight, the Wall Street benchmark, the S & P-500, lost 0.3% after reports including one showing more layoffs.
“This may indicate nothing more than a short break for repositioning, or a minor correction before the next step up,” said ING’s Robert Carnell in a report.

Le Nikkei 225 NIK,
-0,42%
in Tokyo increased by 0.1%. The Shanghai SHCOMP composite index,
-0,36%
slipped by 0.5% while the Hang Seng HSI in Hong Kong,
+ 0,34%
added 0.5% a day after falling back on weak data on Chinese retail spending.

The Kospi 180721,
+ 0,63%
in Seoul gained 0.8% and S & P / ASX 200 XJO in Sydney,
+ 0,13%
was down 0.1%. New Zealand NZ50GR,
+ 0,68%
and Singapore STI,
-0,13%
advanced while Jakarta JAKIDX,
-0,21%
decreases.
World markets have recovered most of this year’s losses, buoyed by optimism about reports of work on a possible coronavirus vaccine. But economists warn that the increase may be too rapid to be sustained by uncertain economic activity as infections in the United States and some other countries increase.
On Wall Street, the S&P 500 SPX,
-0,34%
fell to 3,215.57 on Thursday for its first loss in three days. The Dow Jones Industrial Average DJIA,
-0,50%
lost 0.5% to 26,734.71. The Nasdaq COMP composite,
-0,72%
, which set a record last week, lost 0.7% to 10,473.83.
US investors have been encouraged by signs of increased business activity as anti-virus controls are relaxed. But California and some other regions have reimposed orders to close bars and other businesses after a spike in infections.
Enthusiasm was dampened on Thursday by data showing that 1.3 million people applied for unemployment benefits last week.
Tech stocks were among the hardest hit in the market, a resilient turnaround during much of the pandemic. Microsoft MSFT,
-1,98%
fell 2% and Apple AAPL,
-1,23%
lost 1.2%. The two are still up about 30% this year from expectations that they can continue to grow despite the pandemic.
On the energy markets, benchmark for American crude oil CLQ20,
-0,14%
lost 1 cent to $ 40.74 a barrel in ecommerce on the New York Mercantile Exchange. The contract fell 45 cents on Thursday to $ 40.75. Brent crude BRNU20,
-0,27%
, the international oil price ranking, fell 6 cents to $ 43.31 a barrel in London. It fell 42 cents the previous session to $ 43.37.
Le dollar USDJPY,
-0,05%
fell to 107.23 yen from 107.26 yen on Thursday.

LEAVE A REPLY

Please enter your comment!
Please enter your name here