Search / 10 results found

from
to
AP
  • Updated

Asian stock markets have followed Wall Street lower after the Federal Reserve said U.S. inflation is too high, suggesting support for more aggressive interest rate hikes. Shanghai, Tokyo, Hong Kong and Sydney declined. Oil prices edged higher. Wall Street’s benchmark S&P 500 index lost 0.7% after notes from the Fed’s July 26-27 board meeting showed members thought inflation still is “unacceptably high” despite signs U.S. economic growth is weakening. It said the board saw “little evidence” inflation pressures are subsiding. Investors worry aggressive rate hikes by the Fed and central banks in Europe and Asia to tame inflation that is running at multi-decade highs might derail global economic growth.

AP
  • Updated

Asian stocks have followed Wall Street lower ahead of U.S. inflation data traders worry will show upward pressure on prices still is too strong for the Federal Reserve to ease off interest rate hikes. Shanghai, Tokyo, Hong Kong and Seoul declined early Wednesday. Oil prices edged lower. Wall Street’s benchmark S&P 500 index lost 0.4% for its fourth daily decline. U.S. government data are expected to show headline inflation in July eased from the previous month's four-decade high of 9.1%. But traders expect core inflation, which strips out volatile food and energy, leaving rent and other expenses, to edge higher.

AP
  • Updated

Asian shares are mostly declining amid a global fall in technology shares, including Japan’s SoftBank, which just reported hefty losses caused by the market downturn. Such worries are coming on top of concerns about inflation and what central banks might do to curb it. Shares fell Tuesday in Tokyo but rose in other regional markets. U.S. futures edged higher while oil prices fell. Analysts say regional tensions also remain a risk after the recent visit of U.S. House Speak Nancy Pelosi to Taiwan. Technology stocks were the biggest drag on Wall Street, where the benchmark S&P 500 edged 0.1% lower.

  • Updated

Benchmark U.S. crude oil for September delivery rose $2.20 to $98.62 a barrel Friday. Brent crude for September delivery rose 52 cents to $107.14 a barrel. Wholesa e gasoline for August delivery fell 2 cents to $3.49 a gallon. August heating oil fell 6 cents to $3.62 a gallon. September natural gas rose 10 cents to $8.23 per 1,000 cubic feet. Gold for August delivery rose $12.60 to $1,762.90 an ounce. Silver for September delivery rose 33 cents to $20.20 an ounce and September copper rose 10 cents to $3.57 a pound. The dollar fell to 133.35 Japanese yen from 134.35 yen. The euro rose to $1.021 from $1.017.

AP
  • Updated

Asian shares are mostly higher following a broad rally on Wall Street, but Hong Kong's benchmark sank more than 2%. Investors have grown more convinced that the Federal Reserve may temper its aggressive interest rate hikes aimed at taming inflation after data showed the U.S. economy contracted in the last quarter. But investors are cautiously eyeing regional tensions over China’s stance on Taiwan after President Joe Biden and China’s Xi Jinping spoke for more than two hours on Thursday. Japan's factory output in June jumped 8.9% from the previous month. The Commerce Department reported the U.S. economy contracted at a 0.9% annual pace in April-June following a 1.6% year-on-year drop in the first quarter.

AP
  • Updated

Shares are mostly higher in Asia after the Federal Reserve ratcheted up its campaign against surging inflation by raising its key interest rate three-quarters of a point. The Hong Kong Monetary Authority matched that with an increase of its own. Oil prices pushed higher while U.S. futures edged lower. The Fed’s latest hike lifts the benchmark short-term rate to its highest level since 2018. The S&P 500 gained 2.6% and the technology heavy Nasdaq jumped by the most in over two years. The Dow Jones Industrial Average also closed higher. Strong earnings from Google's owner Alphabet, Microsoft and other companies helped lift investors’ mood.

AP
  • Updated

Asian stock markets have followed Wall Street lower as traders prepared for a possible sharp interest rate hike from the Federal Reserve to cool inflation. Shanghai, Hong Kong and Seoul declined. Tokyo advanced. Oil prices were little changed, staying below $100 per barrel. Wall Street tumbled after Walmart warned inflation that has spiked to a four-decade high of 9.1% is hurting American consumer spending. The Fed is expected to announce a rate hike of up to three-quarters of a percentage point, triple its usual margin. Investors worry aggressive action by the Fed and central banks in Europe and Asia to cool inflation might derail global economic growth.

AP
  • Updated

Asian stock markets are higher as investors brace for another sharp interest rate hike by the Federal Reserve to cool inflation. Shanghai, Hong Kong and Seoul advanced. Tokyo edged lower. Oil prices rose more than $1 per barrel. Wall Street's benchmark S&P 500 index gained 0.1% ahead of this week’s Fed meeting at which officials are expected to announce a rate hike of up to three-quarters of a percentage point, triple the usual margin. Investors worry that aggressive rate hikes by the Fed and other central banks to contain surging inflation might derail global economic growth.

AP
  • Updated

Asian shares are mostly higher after another day of gains on Wall Street amid a deluge of news about the economy, interest rates and corporate profits. Tokyo, Hong Kong and Sydney advanced while Seoul and Shanghai declined. U.S. futures edged lower while oil prices rose. On Thursday, the S&P 500 climbed 1%, returning to its highest level in six weeks. The Dow rose 0.5% and the Nasdaq rose 1.4%. Much of the focus this week has been on Europe. The European Central Bank opted, as expected, Thursday to raise its key interest rate, ending a yearslong experiment with negative interest rates. Japan remains the holdover, keeping its minus 0.1% rate unchanged after years of battling deflation.

AP
  • Updated

Asian shares have mostly fallen on persistent concerns about inflation and the Chinese economy, despite an overnight rally on Wall Street. Eyes are on the Bank of Japan, set to announce a decision after a two-day policy meeting, although analysts expect no major changes. The central bank has not indicated it will follow suit with others around the world, including the U.S. Federal Reserve, in raising interest rates to curb inflation. Japan has suffered years of stagnation, when deflation was a major problem. Regional benchmarks fell in morning trading except in Seoul.