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Jan. 25, 2021, 11:22 p.m. EST

Asian markets pull back as investors seek direction

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By Associated Press

BANGKOK — Shares fell in Asia on Tuesday after a choppy session on Wall Street yielded mixed results as the market struggled to find direction.

Hong Kong /zigman2/quotes/210598030/delayed HK:HSI -2.42% led other regional markets lower, dropping 2.4%. Markets in Australia and India were closed for holidays.

Traders are keeping a wary eye on rising coronavirus infections in various countries and a bumpy rollout of vaccinations in the U.S. Markets also are awaiting a meeting of the Federal Reserve which ends Wednesday.

Investors are still jittery over the still-raging pandemic, delayed COVID-19 vaccine rollouts in some places and Washington’s ability to deliver stimulus to blunt the resulting economic pain.

Japan’s Nikkei 225 index /zigman2/quotes/210597971/delayed JP:NIK -2.09% declined 0.7% , while the Shanghai Composite index /zigman2/quotes/210598127/delayed CN:SHCOMP -1.58% dropped 1.2%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.40% lost 1.8%, while stocks fell in Singapore /zigman2/quotes/210597985/delayed SG:STI +0.31% , Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -1.92% and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.74% .

Stocks swerved to a mixed finish on Wall Street on Monday, ahead of a deluge of corporate earnings reports scheduled to arrive this week.

The S&P 500 /zigman2/quotes/210599714/realtime SPX -1.31% rose 0.4% to 3,855.36 as gains for influential Big Tech stocks offset losses for most companies. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.39% dipped 0.1% to 30,960.00. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP -2.70% , which is packed with tech stocks, rose 0.7% to 13,635.99 and another record.

The yield on the 10-year Treasury sank to 1.03% from 1.07% late Friday.

Besides Apple /zigman2/quotes/202934861/composite AAPL -2.45% , more than 100 companies in the S&P 500 are scheduled to tell investors this week how they fared during the last three months of 2020.

As a whole, analysts expect S&P 500 companies to say their fourth-quarter profit fell 5% from a year earlier. That’s a milder drop than the 9.4% they were forecasting earlier this month, according to FactSet.

President Joe Biden has proposed a $1.9 trillion plan to send $1,400 to most Americans and deliver other support for the economy. But his party holds only the slimmest possible majority in the Senate, raising doubts about how much can be approved. Several Republicans have already voiced opposition to parts of the plan.

The coronavirus pandemic is also worsening and doing more damage by the day. A UN agency said Monday that  four times as many jobs were lost last year as in 2009 , during the global financial crisis.

The Federal Reserve will begin a  two-day meeting on interest-rate policy Tuesday , and the wide expectation is for it to keep the accelerator floored on its stimulus for the economy and markets. It has said it plans to keep interest rates low even if inflation rises above its 2% target.

In other Tuesday trading, U.S. benchmark crude oil lost 27 cents to $52.50 per barrel in electronic trading on the New York Mercantile Exchange. It gained 50 cents to $52.77 per barrel on Monday.

Brent crude , the international standard, shed 37 cents to $55.31 per barrel.

The U.S. dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0514% slipped to 103.69 Japanese yen from 103.76 yen late Monday.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
29,157.71
-722.71 -2.42%
Volume: 1.16M
March 4, 2021 11:39a
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/zigman2/quotes/210597971/delayed
JP : Nikkei
28,940.52
-618.58 -2.09%
Volume: 0.00
March 4, 2021 12:34p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,520.24
-56.66 -1.58%
Volume: 24.72B
March 4, 2021 11:39a
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,039.92
-43.07 -1.40%
Volume: 842,572
March 4, 2021 12:34p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,009.73
+9.36 +0.31%
Volume: 0.00
March 4, 2021 11:39a
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
15,899.73
-312.00 -1.92%
Volume: 0.00
March 4, 2021 11:34a
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,329.68
-47.08 -0.74%
Volume: 0.00
March 4, 2021 10:44a
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/zigman2/quotes/210599714/realtime
US : S&P US
3,819.72
-50.57 -1.31%
Volume: 2.72B
March 3, 2021 5:03p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
31,270.09
-121.43 -0.39%
Volume: 411.61M
March 3, 2021 5:03p
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/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
12,997.75
-361.04 -2.70%
Volume: 4.84M
March 3, 2021 5:16p
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 122.06
-3.06 -2.45%
Volume: 112.97M
March 3, 2021 4:00p
P/E Ratio
33.00
Dividend Yield
0.67%
Market Cap
$2100.53 billion
Rev. per Employee
$1.86M
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
107.0790
+0.0550 +0.0514%
Volume: 0.0000
March 3, 2021 10:54p
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