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April 28, 2022, 12:14 a.m. EDT

Asian markets higher after wobbly day on Wall Street

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By Associated Press

Asian shares logged moderate gains on Thursday after Wall Street stabilized following a sell-off in tech stocks the day before.

Tokyo’s Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK +1.17% rose 1% after the Bank of Japan wrapped up a policy meeting with no major changes, maintaining its near-zero interest rate stance despite a sharp weakening of the yen against the dollar and rising costs for many imported commodities.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.1599% rose to 129.70 Japanese yen after the BOJ policy announcement, which indicated the central bank remains determined to keep lending conditions ultra-lax to help support the sluggish economy. It was trading at 128.43 yen late Wednesday.

The U.S. Federal Reserve has begun raising interest rates to counter surging inflation and investors have been selling yen to seek higher returns in dollar-denominated assets.

Chinese benchmarks recovered from sharp drops as officials highlighted efforts to counter the impact of pandemic shutdowns in many cities.

The Shanghai Composite index /zigman2/quotes/210598127/delayed CN:SHCOMP +0.53% gained 0.3% and Hong Kong’s Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -0.13% jumped 1.1%.

Strict  lockdown measures in China  have added to concerns about slowing growth because of damage to the world’s second-largest economy. The flow of industrial goods has been disrupted by the suspension of access to Shanghai, home of the world’s busiest port, and other industrial cities including Changchun and Jilin in northeast China.

Beijing has been conducting mass testing this week as it decides on what degree of controls to impose in the capital.

Elsewhere, the Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.99% in Seoul added 0.7% and Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.03% surged 0.9%. Benchmark indexes in Singapore /zigman2/quotes/210597985/delayed SG:STI +0.80% , Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.88% and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -2.28% gained.

Wall Street ended Wednesday with a lackluster finish as traders braced for more earnings reports from major U.S. companies this week.

The S&P 500 /zigman2/quotes/210599714/realtime SPX +1.06% saw most of a midday rally evaporate and wound up with a gain of just 0.2%, at 4,183.96. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.05% also added 0.2%, to 33,301.93. The Nasdaq /zigman2/quotes/210598365/realtime COMP +0.90% was barely changed at 12,488.93.

The indexes rallied to a strong finish late Monday only to slump on Tuesday. They are all down 1.5% or more so far this week.

Natural gas prices surged as much as 24% over the last day in Europe and the euro weakened after  Russia said it would cut off supplies  to Poland and Bulgaria. Natural gas and oil prices already were rising as the pandemic eased and demand increased, but the Russian invasion of Ukraine has added to price increases. Crude oil and and natural gas prices have jumped in 2022, pushing up costs for gasoline and heating.

Oil prices fell back Thursday. U.S. benchmark crude oil lost $1.27 to $100.75 per barrel in electronic trading on the New York Mercantile Exchange. It picked up 32 cents on Wednesday to $102.02 per barrel.

Brent crude , the standard for pricing international oil, shed $1.41 to $103.54 per barrel.

/zigman2/quotes/210597971/delayed
JP : Nikkei
26,459.52
+305.71 +1.17%
Volume: 0.00
July 5, 2022 9:24a
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
135.9150
+0.2170 +0.1599%
Volume: 0.0000
July 4, 2022 8:43p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,405.43
+17.79 +0.53%
Volume: 35.77B
July 4, 2022 3:00p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
21,830.35
-29.44 -0.13%
Volume: 2.20M
July 4, 2022 4:08p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,323.03
+22.69 +0.99%
Volume: 66,104
July 5, 2022 9:24a
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,610.30
-2.30 -0.03%
Volume: 51,191
July 5, 2022 10:23a
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,120.24
+24.65 +0.80%
Volume: 0.00
July 4, 2022 5:20p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
14,217.06
-126.02 -0.88%
Volume: 0.00
July 4, 2022 1:33p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,639.17
-155.16 -2.28%
Volume: 0.00
July 4, 2022 3:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,825.33
+39.95 +1.06%
Volume: 2.20B
July 1, 2022 5:45p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
31,097.26
+321.83 +1.05%
Volume: 313.35M
July 1, 2022 5:45p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
11,127.85
+99.11 +0.90%
Volume: 4.11M
July 1, 2022 5:16p
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