Search / 10 results found

from
to
AP
  • Updated

Shares have advanced in Asia after a rally on Wall Street spurred by the chair of the Federal Reserve's comments on easing the pace of interest rate hikes to tame inflation. Benchmarks in Tokyo and Hong Kong surged more than 1%. While citing some signs that inflation is cooling, Fed Chair Jerome Powell stressed that the Fed will push rates higher than previously expected and keep them there for an extended period. The S&P 500 jumped 3.1% Wednesday. The tech-heavy Nasdaq rose 4.4% and the Dow Jones Industrial Average rose 2.2%. Treasury yields fell broadly and crude oil prices rose. Major indexes ended November with their second straight month of gains.

AP
  • Updated

Asian shares are trading mostly lower ahead of a closely watched speech by the Federal Reserve chief that may give clues about future interest rate hikes. Markets are also eyeing developments in China, where protests have erupted recently over the “zero-COVID” strategy that has confined millions of people to their homes, sometimes for months. Shares fell in Tokyo but were higher in Sydney, Seoul, Hong Kong and Shanghai. Authorities in China have eased some controls after demonstrations in at least eight mainland cities and Hong Kong. Security forces have detained an unknown number of people. Wall Street finished mixed.

AP
  • Updated

Asian shares are trading mostly higher as market jitters decline over protests in China set off by growing public anger over COVID-19 restrictions. Benchmarks rose in early trading in Australia, South Korea and China, while shares fell in Japan. Oil prices fell. Japanese government data showed that the unemployment rate for October was unchanged from September at 2.6%, while the available jobs per job seeker increased. China's economy has been stifled by a “zero COVID” policy which includes lockdowns that continually threaten the global supply chain. Stocks fell broadly on Wall Street.

AP
  • Updated

Asian stock markets are mixed after Wall Street sank and Chinese anti-virus controls fueled concern about an economic slowdown. Shanghai and Hong Kong declined while Tokyo advanced. Oil prices gained. Wall Street declined for another day after a Federal Reserve official rattled investors last week by saying already-elevated interest rates might have to go higher than expected to stop surging inflation. Traders worry repeated rate hikes by the Fed and other central banks might tip the global economy into recession. In China, expanding restrictions on millions of people in multiple cities to fight virus outbreaks are adding to concern the world’s second-largest economy might weaken.

AP
  • Updated

Asian stocks are mixed after Wall Street declined following indications the Federal Reserve plans to raise interest rates higher than expected to cool inflation. Shanghai declined while Tokyo and Hong Kong advanced. Oil prices gained. Wall Street’s benchmark S&P 500 index declined after a Fed official indicated its benchmark lending rate might have to be raised sharply to stop price rises. Officials have said this previously but traders hoped signs that economic activity was weakening might prompt the U.S. central bank to ease off. Traders worry large rate hikes this year by the Fed and central banks in Europe and Asia to stop multi-decade-high inflation might tip the global economy into recession.

AP
  • Updated

Asian shares mostly declined amid concerns about the impact of China’s “zero-COVID” strategy mixed with hopes for economic activity and tourism returning to normal. Benchmarks fell in Tokyo, Seoul, Hong Kong and Shanghai, while gaining in Sydney. Oil prices fell. Market watchers noted worries about how the Federal Reserve might not ease on its aggressive interest rate hikes, which are aimed at curbing inflation pressures. Retailers and technology companies led a broad slide on Wall Street. China is maintaining its “zero-COVID” approach to eliminate the coronavirus entirely. The localized lockdowns and other restrictions have caused a supply crunch for some of Asia’s biggest manufacturers, denting economic growth.

AP
  • Updated

Asian shares were mostly lower Wednesday, as investors got jittery over global risks after Poland said a Russian-made missile killed two people there. Benchmarks fell in morning trading in Tokyo, Sydney, Seoul and Hong Kong, while shares were little changed in Shanghai. Details were unclear, including who fired the missile and from where. President Joe Biden, in Indonesia for the Group of 20 summit, promised “full U.S support for and assistance with Poland’s investigation.” Wall Street closed higher, boosted by more signs the nation’s high inflation may be falling off faster than expected. Oil prices fell back.

AP
  • Updated

Asian stock markets have surged after U.S. inflation eased by more than expected, spurring hopes the Federal Reserve might scale down plans for more interest rate hikes. Hong Kong jumped 5.4%. Shanghai, Tokyo and Sydney also advanced. Oil prices edged higher. Wall Street had its best day in 2 1/2 years after the government reported consumer prices rose 7.7% over a year ago in October. That was lower than the 8% expected by economists and the fourth month of decline. Investors worry the Fed and other central banks might tip the world into recession as they try to cool inflation. Forecasters warned it was too early to be certain prices are under control.

AP
  • Updated

Asian shares are mixed as investors await the outcome of the U.S. midterm elections and a major inflation update due later in the week. Benchmarks rose in Shanghai, Sydney and Seoul but fell in Tokyo and Hong Kong. On Tuesday, the S&P 500 rose 0.6% in its third straight gain. Trading was tentative through the day, and Wall Street’s benchmark index flipped between an even bigger gain and a modest loss during the afternoon. Analysts say investors appear to be betting that Republicans will gain control of at least one house of Congress, which could mean relatively little change for economic policies.

AP
  • Updated

Asian stocks are mixed ahead of the U.S. midterm elections with trading likely to stay bumpy in a week that brings new inflation data and other events that could shake markets. Tokyo, Seoul and Sydney rose early Tuesday while Hong Kong and Shanghai declined. U.S. futures were mixed and oil prices fell. On Monday, the S&P 500 rose 1%, the Dow Jones Industrial Average gained 1.3% and the Nasdaq composite added 0.9%. This week brings various big events, including U.S. inflation data and the election, which brings the risk of a U.S. government split between Democrats and Republicans and potentially snarled in gridlock.