Asian Stocks Fall Following Record Wall Street Prices | WGN 720 radio


Singapore (AP) – Wall Street’s indictment caused Asian stock prices to fall on Thursday after reaching record levels for the second day in a row.

Japan’s Nikkei 225 benchmark fell 0.1% to 27,742.29 and the Hong Kong Hang Seng index fell 1.6% to 25,293.14. The Shanghai Composite fell 1% in the afternoon session to 3,504.49.

The Australian S & P / ASX 200 lost 0.5% to 7,491.20. South Korea’s Kospi could dampen the rise in household debt, down 0.6% to 3,129.51 after the country’s central bank raised its key rate by 25 basis points.

Inventories rose in India, Singapore and Malaysia, but fell in Indonesia.

Investors are waiting for more clarity on China’s regulatory reforms and their impact on the tech sector.

Chinese tech stocks rebounded earlier this week as the share buyback of games and social media giant Tencent Holding Ltd. stimulated the feeling. The share of the Hong Kong-listed company fell 0.7% on Thursday.

“After new sentiment sparked by institutional investor bottom fishing and the Tencent share buyback, investors are looking to further clarify regulatory reforms and are currently on hold. It may look like it,” IG’s YeapJunRong said.

They also look to the Federal Reserve’s annual convention in Jackson Hall, Wyoming, which begins Thursday. Federal Reserve Board Chairman Jerome Powell will speak at the convention on Friday.

Investors are in “hold” mode from Fed officials as inflation was temporary for most policymakers earlier this year and some economists worried about the increase in COVID-19 cases. I bet it will stay.

“In fact, the market is looking to recognize that as the global economy emerges from the pandemic, Jackson Hall will move from precursors of the tightening to ensuring that it delves into accommodation,” Mizuho’s Benkateswaran Lavagna said. Bank. Declared.

On Wall Street on Wednesday, financial and energy companies raised the S&P 500 to an all-time high. The benchmark index closed at 4,496.19 on Wednesday, up 0.2%.

The Dow Jones Industrial Average rose 0.1% to 35,405.50. Meanwhile, the Nasdaq rose 0.2% to a record 15,041.86.

In the energy market, benchmark US crude fell 31 cents to $ 68.05 a barrel in e-commerce on the New York Stock Exchange. Brent crude, which served as the price standard for international oil, fell 18 cents to $ 72.07.

The dollar rose from 109.98 yen on Wednesday to 110.06 yen. The euro fell from $ 1.1776 to $ 1.1766.

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