Asian stocks fall following Wall Street runaway

After a day of volatile Wall Street, stock prices across the Asia-Pacific region fell. Stock prices receded from losses as the US central bank governor did not show immediate plans to change ultra-loose monetary policy.

Tokyo’s Tokyo Stock Price Index fell 0.5% as trading resumed after a vacation in Japan on Tuesday, while Australia’s S & P / ASX200 fell at a similar level. China’s Shanghai and Shenzhen listed stocks CSI300 rose 0.2%, while Hong Kong’s Hang Seng Index was flat.

Overnight in the United States, the benchmark S & P 500 and technology-focused Nasdaq Composite previously fell 1.8% and 3.9%, respectively. Loss recovery Following comments by Federal Reserve Board of Governors Jay Powell. The S & P 500 increased sessions by 0.1% and the Nasdaq fell 0.5%.

Powell told the Senate Banking Commission On Tuesday, the Fed intended to maintain strong support for the US pandemic-hit economy.

“The number of new cases and hospitalizations has declined in recent weeks, and continued vaccination provides hope for a return to normal later this year,” he said. “But the economic recovery is still uneven and far from perfect, and the future path is very uncertain.”

Equity futures on the S & P 500 and London’s FTSE 100 were up 0.1% on Wednesday in Asian trading.

The sovereign bond market remained largely unchanged, with 10-year Treasury yields flat at 1.35%. Yields for the last decade have risen 0.4 points. Rising inflation expectations It aroused concern that the Federal Reserve Board could raise interest rates faster than expected. Yields go up as bond prices go down.

The dollar index, which measures the US dollar against the baskets of other companies in the same industry, fell 0.1%, and most exchange rates in Asia are stable according to Powell’s comments.

Elsewhere in the currency, Sterling rose 0.4% against the dollar to $ 1.4163. Report British Prime Minister Rishi Sunak could extend the stamp duty holidays for real estate transactions by another three months.British currency Highest level After April 2018.

Crude prices fell 0.7% to $ 64.90 a barrel, along with international benchmark Brent crude. West Texas Intermediate, a US marker, fell at a price similar to $ 61.24 a barrel.

Asian stocks fall following Wall Street runaway

Source link Asian stocks fall following Wall Street runaway

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