Asian Shares Slide On Inflation Worries
CANBERA (dpa-AFX) - Asian stocks succumbed to selling pressure on Tuesday amid tech sell-off and growing concerns over inflation. As the economy heats up, it is feared that the Federal Reserve may tighten its monetary policy sooner than expected.
Chinese shares reversed early losses to close higher, with the benchmark Shanghai Composite edging up 13.85 points, or 0.40 percent, to 3,441.85. Hong Kong s Hang Seng index fell 581.85 points, or 2.03 percent, to 28,013.81.
China s consumer price inflation rose moderately at a slower-than-expected pace in April, while producer prices grew at the fastest pace in more than three years driven by higher commodity prices, official data showed today.
Asian Markets In Deep Red On Wall Street Sell-off
CANBERA (dpa-AFX) - Asian stock markets are sharply lower in deep red on Tuesday, following the broadly negative cues overnight from Wall Street as the outlook for inflation weighed on the markets amid an increase in commodities prices. Traders remain concerned that a faster price growth could lead the Federal Reserve tightening monetary policy sooner than expected. Asian stocks ended mostly higher on Monday.
Traders also continue to be cautious amid the surge in daily coronavirus cases in the region, mainly in India and Japan, and the related restrictions and lockdowns in several areas, which will impact the pace of global economic recovery from the pandemic.
Japanese Market Significantly Higher
TOKYO (dpa-AFX) - Japanese stock market is significantly higher on Monday, extending the gains of the previous two sessions, with the Nikkei 225 above the 29,600 level, following broadly positive cues from Wall Street on Friday. However, the upside is limited as traders continue to be worried about the rising daily coronavirus cases and the related third state of emergency extended in some areas.
According to reports, Japan recorded the third straight day of more than 6000 daily coronavirus infections on Sunday amid the spread of the more contagious variants.
The benchmark Nikkei 225 Index is gaining 260.44 points or 0.89 percent to 29,618.26, after touching a high of 29,685.41 earlier. Japanese shares ended marginally higher on Friday.
Asian Shares Mixed Ahead Of US Jobs Data
CANBERA (dpa-AFX) - Asian stocks ended mixed on Friday even as positive Chinese data boosted optimism about the global economic outlook.
The focus was on U.S. jobs data due tonight, with economists expecting U.S. employment to jump by 978,000 jobs in April after an increase of 916,000 jobs in May. The unemployment rate is expected to dip to 5.8 percent from 6.0 percent.
China s Shanghai Composite index dropped 22.41 points, or 0.65 percent, to 3,418.87 after a Bloomberg report suggested that the Biden administration is likely to preserve limits on U.S. investments in certain Chinese companies. Hong Kong s Hang Seng index ended down 26.81 points at 28,610.65.
Japanese Market Modestly Higher
TOKYO (dpa-AFX) - The Japanese stock market is modestly higher after recouping early losses on Friday, extending the sharp gains of the previous session, with the benchmark Nikkei 225 above the 29,400 mark, following broadly positive cues overnight from Wall Street on better-than-expected weekly labor market data. Continuing concerns about the spike in daily domestic coronavirus infections and possible lockdowns are weighing on the market.
According to media reports, Tokyo Governor Yuriko Koike said the situation in the capital has not improved enough to lift the state of emergency as plans are afloat to expand and extend the ongoing pandemic-related state of emergency.