Bulletin
Investor Alert

Associated Press Archives | Email alerts

Jan. 14, 2022, 2:35 a.m. EST

Asian shares pressured following Wall Street retreat

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
    Hang Seng Index (HSI)
  • X
    NIKKEI 225 Index (NIK)

or Cancel Already have a watchlist? Log In

By Associated Press

BANGKOK (AP) — Asian shares slipped Friday after a retreat on Wall Street that left the Nasdaq composite down 2.5%.

Tokyo fell nearly 2% and Hong Kong, Shanghai and Seoul also were lower.

China reported its global trade surplus surged nearly 30% in 2021 to $676.4 billion. The trade surplus in December swelled 20.8% over a year earlier to a monthly record of $94.4 billion, customs data showed Friday.

Exports rose to $3.3 trillion in 2021 despite shortages of processor chips for smartphones and other products as global demand rebounded from the pandemic. Manufacturers also were hampered by power rationing imposed in some areas.

The Shanghai Composite index /zigman2/quotes/210598127/delayed CN:SHCOMP +0.23% lost 0.9% and the Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +2.89% in Hong Kong lost 3% . Tokyo’s Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK +0.66% lost 1.2%.

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.98% declined 1.3%. In Sydney, the S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +1.08% shed 1%.

Technology companies led a sell-off on Wall Street Thursday that pulled the major indexes into the red for the week.

The S&P 500 /zigman2/quotes/210599714/realtime SPX +2.47% fell 1.4% to 4,659.03. The tech-heavy Nasdaq /zigman2/quotes/210598365/realtime COMP +3.33% slumped 2.5% to 14,806.81. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.76% fell 0.5% to 36,113.62.

Smaller company stocks also fell. The Russell 2000 /zigman2/quotes/210598147/delayed RUT +2.70% slid 16.62 points, or 0.8%, to 2,159.44.

The selling came as investors gauged company earnings reports and new data pointing to rising prices at the wholesale level. Inflation has been a key focus for investors as they try to gauge how rising prices will impact businesses, consumers and the Federal Reserve’s policy on interest rates in 2022.

“Investors are continuing to be concerned that the worst is yet to be seen in terms of inflation,” said Sam Stovall, chief investment strategist at CFRA.

The yield on the 10-year Treasury /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y 0.00% slipped to 1.71% from 1.73% from late Wednesday.

The Labor Department on Thursday reported that its producer price index, which measures prices at the wholesale level, surged by a record 9.7% for all of 2021. The increase set an annual record and provides further evidence that inflation is still present at all levels of the U.S. economy. The report follows Wednesday’s release of consumer price data for December, which showed that inflation jumped at its fastest pace in nearly 40 years last month.

Many of the big tech companies with solid revenue and profits, such as Apple /zigman2/quotes/202934861/composite AAPL +4.08% and Microsoft /zigman2/quotes/207732364/composite MSFT +2.76% , will suffer less than their counterparts that have little revenue, but rosy projections, he said.

Even so, those big tech names also lost ground Thursday. Apple fell 1.9% and Microsoft fell 4.2%.

Health care stocks, communication services firms and a mix of companies that rely on direct consumer spending were among the decliners. Pfizer /zigman2/quotes/202877789/composite PFE -0.15% fell 2%, Facebook parent Meta Platforms /zigman2/quotes/205064656/composite FB +1.83% dropped 2% and Amazon /zigman2/quotes/210331248/composite AMZN +3.66% slid 2.4%.

Industrial companies were among the few gainers. Delta Air Lines /zigman2/quotes/200327741/composite DAL +3.43% rose 2.1% after reporting surprisingly good fourth-quarter financial results. Other airlines also got a boost. American Airlines /zigman2/quotes/209207041/composite AAL +5.16% rose 4.5% and United Airlines /zigman2/quotes/205037281/composite UAL +5.08% rose 3.5%.

U.S. benchmark crude oil /zigman2/quotes/209723049/delayed CL00 +0.86% rose 9 cents to $82.19 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude , the basis for pricing international oil, rose 46 cents to $84.88 per barrel.

The dollar /zigman2/quotes/210598269/delayed DXY -0.19% weakened to 113.75 Japanese yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0094% from 114.18 yen. The euro /zigman2/quotes/210561242/realtime/sampled EURUSD +0.0559% rose to $1.1463 from $1.1457.

/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,130.24
+7.13 +0.23%
Volume: 35.95B
May 27, 2022 3:00p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
20,697.36
+581.16 +2.89%
Volume: 2.57M
May 27, 2022 4:09p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
26,781.68
+176.84 +0.66%
Volume: 0.00
May 27, 2022 3:15p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,638.05
+25.60 +0.98%
Volume: 590,813
May 27, 2022 3:30p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,182.70
+76.80 +1.08%
Volume: 562,131
May 27, 2022 5:01p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,158.24
+100.40 +2.47%
Volume: 2.17B
May 27, 2022 5:49p
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
12,131.13
+390.48 +3.33%
Volume: 4.20M
May 27, 2022 5:16p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
33,212.96
+575.77 +1.76%
Volume: 331.19M
May 27, 2022 5:49p
loading...
/zigman2/quotes/210598147/delayed
US : US Composite
1,887.90
+49.66 +2.70%
Volume: 1.74M
May 27, 2022 7:02p
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
2.75
0.00 0.00%
Volume: 0.00
May 27, 2022 2:04p
loading...
/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 149.64
+5.86 +4.08%
Volume: 90.98M
May 27, 2022 4:00p
P/E Ratio
24.32
Dividend Yield
0.61%
Market Cap
$2421.95 billion
Rev. per Employee
$2.51M
loading...
/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 273.24
+7.34 +2.76%
Volume: 26.91M
May 27, 2022 4:00p
P/E Ratio
28.51
Dividend Yield
0.91%
Market Cap
$2043.57 billion
Rev. per Employee
$1.06M
loading...
/zigman2/quotes/202877789/composite
US : U.S.: NYSE
$ 53.91
-0.08 -0.15%
Volume: 21.41M
May 27, 2022 4:03p
P/E Ratio
12.37
Dividend Yield
2.97%
Market Cap
$302.48 billion
Rev. per Employee
$1.17M
loading...
/zigman2/quotes/205064656/composite
US : U.S.: Nasdaq
$ 195.13
+3.50 +1.83%
Volume: 22.56M
May 27, 2022 4:00p
P/E Ratio
14.75
Dividend Yield
N/A
Market Cap
$528.12 billion
Rev. per Employee
$1.66M
loading...
/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 2,302.93
+81.38 +3.66%
Volume: 4.68M
May 27, 2022 4:00p
P/E Ratio
55.54
Dividend Yield
N/A
Market Cap
$1171.55 billion
Rev. per Employee
$297,107
loading...
/zigman2/quotes/200327741/composite
US : U.S.: NYSE
$ 42.23
+1.40 +3.43%
Volume: 10.73M
May 27, 2022 4:00p
P/E Ratio
53.44
Dividend Yield
0.00%
Market Cap
$27.07 billion
Rev. per Employee
$422,868
loading...
/zigman2/quotes/209207041/composite
US : U.S.: Nasdaq
$ 18.13
+0.89 +5.16%
Volume: 27.62M
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$11.78 billion
Rev. per Employee
$281,791
loading...
/zigman2/quotes/205037281/composite
US : U.S.: Nasdaq
$ 48.41
+2.34 +5.08%
Volume: 11.00M
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$15.82 billion
Rev. per Employee
$344,578
loading...
/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 115.07
+0.98 +0.86%
Volume: 203,136
May 27, 2022 4:59p
loading...
/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
101.64
-0.19 -0.19%
Volume: 0.00
May 27, 2022 4:59p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
127.1050
+0.0120 +0.0094%
Volume: 0.0000
May 27, 2022 4:59p
loading...
/zigman2/quotes/210561242/realtime/sampled
US : Tullett Prebon
1.0736
+0.0006 +0.0559%
Volume: 0.0000
May 27, 2022 4:59p
loading...

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

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.