Bulletin
Investor Alert

Associated Press Archives | Email alerts

Jan. 28, 2021, 11:38 p.m. EST

Asian markets mixed as road to pandemic recovery looks bumpy

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Shanghai Composite Index (SHCOMP)
  • X
    NIKKEI 225 Index (NIK)
  • X
    Hang Seng Index (HSI)

or Cancel Already have a watchlist? Log In

By Associated Press

BEIJING — Asian stock markets were mixed Friday after Wall Street rebounded from its biggest loss in nearly three months, while Japan reported December factory output weakened.

Shanghai and Hong Kong advanced while Tokyo and Seoul declined.

Overnight, Wall Street’s benchmark S&P 500 index gained 1%, recovering some of its loss from the previous day’s 2.6% fall after American unemployment data were better than expected.

U.S. markets were roiled by a spate of trading by small investors of video game vendor GameStop that hurt hedge funds that bet the stock would fall. Brokers suspended some options trading in that and other stocks.

Elsewhere, investors were watching coronavirus infection spikes in Europe and Asia, renewed travel curbs and negotiations in Washington over President Joe Biden’s proposed $1.9 trillion economic aid package.

“We are still moving towards a recovery from the pandemic, just a heck of a lot bumpier than anyone had expected,” said Stephen Innes of Axi in a report. “Yet the recent stock market washout may have put the path forward on a cleaner footing.”

The Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -0.92% added 0.2% while the Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK +0.20% in Tokyo shed 1.5%. The Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -1.07% in Hong Kong advanced 0.3%.

The Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.36% in Seoul slid 1.9% and the S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.05% in Sydney fell 0.9%. New Zealand /zigman2/quotes/211587880/delayed NZ:NZ50GR -0.46% and Singapore /zigman2/quotes/210597985/delayed SG:STI -0.06% advanced while Jakarta /zigman2/quotes/210597981/delayed ID:JAKIDX -0.02% declined.

The Japanese government reported December factory output fell 1.6% from the previous month in the second straight decline.

On Wall Street, the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.77% rose to 3,787.38, escaping the red for the year so far. Its decline Thursday was its biggest since October.

Investors watched wild swings in GameStop /zigman2/quotes/203755179/composite GME -6.99% , which skidded 44.3%, cinema chain AMC /zigman2/quotes/200235402/composite AMC -3.78% and other stocks that have become targets for online traders.

Several fell after Robinhood and other trading platforms restricted trading, causing an outcry by some customers.

The Dow Jones industrial average /zigman2/quotes/210598065/realtime DJIA +0.89% gained 1% to 30,603.36. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP +0.51% added 0.5% to 13,337.16.

More than 100 companies in the S&P 500 are due to report results for the final quarter of 2020.

Apple /zigman2/quotes/202934861/composite AAPL +2.02%  fell 3.5% after the iPhone maker posted a record quarterly profit, helped by big sales of iPhones and Apple Watches during the holiday season. Investors focused on the fact that Apple was conservative in its full-year outlook for 2021, citing the pandemic and economic uncertainty.

Hopes are high for Biden’s aid package, but worries grew that the plan might be scaled back under pressure from Republican legislators.

In energy markets, benchmark U.S. crude lost 4 cents to $52.30 per barrel in electronic trading on the New York Mercantile Exchange. The contract lost 51 cents on Thursday to close at $52.34. Brent crude , the price standard for international oils, rose 16 cents to $55.26 per barrel in London.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.0009% rose to 104.47 Japanese yen from Thursday’s 104.24 yen.

/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,450.68
-31.88 -0.92%
Volume: 28.01B
April 9, 2021 3:01p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
29,768.06
+59.08 +0.20%
Volume: 0.00
April 9, 2021 3:15p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
28,698.80
-309.27 -1.07%
Volume: 1.90M
April 9, 2021 4:08p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,131.88
-11.38 -0.36%
Volume: 1.82M
April 9, 2021 3:32p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,995.20
-3.60 -0.05%
Volume: 425,907
April 9, 2021 5:14p
loading...
/zigman2/quotes/211587880/delayed
NZ : New Zealand: NZX
12,574.35
-58.25 -0.46%
Volume: 0.00
April 9, 2021 5:00p
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,184.54
-1.86 -0.06%
Volume: 0.00
April 9, 2021 5:20p
loading...
/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,070.21
-1.52 -0.02%
Volume: 0.00
April 9, 2021 3:00p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,128.80
+31.63 +0.77%
Volume: 1.88B
April 9, 2021 5:15p
loading...
/zigman2/quotes/203755179/composite
US : U.S.: NYSE
$ 158.36
-11.90 -6.99%
Volume: 9.46M
April 9, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$11.09 billion
Rev. per Employee
$424,150
loading...
/zigman2/quotes/200235402/composite
US : U.S.: NYSE
$ 9.42
-0.37 -3.78%
Volume: 29.25M
April 9, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$4.24 billion
Rev. per Employee
$43,642
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
33,800.60
+297.03 +0.89%
Volume: 317.82M
April 9, 2021 5:15p
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
13,900.19
+70.88 +0.51%
Volume: 3.52M
April 9, 2021 5:16p
loading...
/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 133.00
+2.64 +2.02%
Volume: 106.69M
April 9, 2021 4:00p
P/E Ratio
35.95
Dividend Yield
0.62%
Market Cap
$2232.73 billion
Rev. per Employee
$1.86M
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
109.6650
-0.0010 -0.0009%
Volume: 0.0000
April 9, 2021 4:59p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.