Bulletin
Investor Alert

New York Markets Close in:

Associated Press Archives | Email alerts

Aug. 19, 2022, 1:46 a.m. EDT

Asian markets mixed after Wall St gains on jobs data

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 (AP) — Asian stock markets were mixed Friday after Wall Street rose as investors analyzed conflicting economic signals ahead of a Federal Reserve conference next week.

Shanghai and Seoul declined while Tokyo and Hong Kong advanced. Oil prices edged lower but stayed above $90 per barrel.

Wall Street rose, rebounding from Wednesday’s tumble, after corporate results and fewer unemployment claims than expected suggested the U.S. economy has pockets of resiliency despite repeated interest rate hikes.

Investors worry the Fed and central banks in Europe and Asia might derail global economic growth as they hike rates to cool inflation that is running at multi-decade highs.

The latest U.S. data “might keep the door open for aggressive Fed tightening,” said Edward Moya of Oanda in a report.

The Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP -1.58% was flat at 3,276.13 while the Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK -1.50% in Tokyo was flat at 28,924.18. The Hang Seng /zigman2/quotes/210598030/delayed HK:HSI -3.41% in Hong Kong added 0.3% to 19,837.46.

The Kospi /zigman2/quotes/210598069/delayed KR:180721 -2.45% in Seoul shed 0.5% to 2,495.28 while Sydney’s S&P-ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.53% fell 0.5% to 7,111.40.

New Zealand and Singapore retreated while Jakarta gained.

Investors looked ahead to the Fed’s annual Jackson Hole conference in Wyoming next week for indications of when and how much the U.S. central bank might raise rates.

Minutes on the Fed’s July meeting released this week said inflation still is too high and made clear the central bank will keep raising interest rates.

The Fed has raised interest rates twice this year by 0.75 percentage points, triple its usual margin. Forecasters expect a hike at the board’s September meeting, but say pressure for a similarly large increase has declined as economic growth cooled.

On Wall Street, the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.39% rose 0.2% to 4,283.74 after the Labor Department reported fewer Americans filed for unemployment benefits last week.

“Initial jobless claims dipped, easing concerns a little bit that the labor market was starting to head in the wrong direction,” said Moya.

That followed data Wednesday that showed July retail sales held steady with the previous month despite concern inflation might depress consumers’ willingness to spend.

The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.34% gained 0.1% gain to 33,999.04. The Nasdaq /zigman2/quotes/210598365/realtime COMP +1.24% added 0.2% to 12,965.34.

Technology companies gained. Cisco Systems /zigman2/quotes/209509471/composite CSCO +2.05% rose 5.8% after reporting solid results.

Energy stocks also climbed as U.S. crude oil prices rose. Devon Energy /zigman2/quotes/209479244/composite DVN +3.93% rose 5.9%. Department store Kohl’s /zigman2/quotes/210414114/composite KSS +3.11% fell 7.7% after issuing a disappointing financial forecast.

In energy markets, benchmark U.S. crude /zigman2/quotes/211629951/delayed CL.1 +4.27% lost 40 cents to $90.10 per barrel in electronic trading on the New York Mercantile Exchange. The contract surged $2.39 to $90.50 on Thursday. Brent crude , the price basis for international trading, shed 30 cents to $96.29 per barrel in London. It jumped $2.94 the previous day to $96.59.

The dollar rose to 136.27 yen /zigman2/quotes/210561789/realtime/sampled USDJPY -0.3605% from Thursday’s 135.91 yen. The euro /zigman2/quotes/210561242/realtime/sampled EURUSD +0.9796% fell to $1.0076 from $1.0091.

/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,045.07
-48.80 -1.58%
Volume: 23.01B
Sept. 28, 2022 3:00p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
26,173.98
-397.89 -1.50%
Volume: 0.00
Sept. 28, 2022 3:15p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
17,250.88
-609.43 -3.41%
Volume: 2.95M
Sept. 28, 2022 4:08p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,169.29
-54.57 -2.45%
Volume: 596,136
Sept. 28, 2022 3:32p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,462.00
-34.20 -0.53%
Volume: 973,102
Sept. 28, 2022 5:28p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,697.96
+50.67 +1.39%
Volume: 2.22B
Sept. 28, 2022 12:27p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
29,524.93
+389.94 +1.34%
Volume: 320.97M
Sept. 28, 2022 12:27p
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
10,963.66
+134.15 +1.24%
Volume: 2.34B
Sept. 28, 2022 12:27p
loading...
/zigman2/quotes/209509471/composite
US : U.S.: Nasdaq
$ 41.35
+0.83 +2.05%
Volume: 10.36M
Sept. 28, 2022 12:27p
P/E Ratio
14.70
Dividend Yield
3.67%
Market Cap
$166.49 billion
Rev. per Employee
$618,932
loading...
/zigman2/quotes/209479244/composite
US : U.S.: NYSE
$ 58.38
+2.21 +3.93%
Volume: 4.94M
Sept. 28, 2022 12:27p
P/E Ratio
7.45
Dividend Yield
7.96%
Market Cap
$36.78 billion
Rev. per Employee
$11.97M
loading...
/zigman2/quotes/210414114/composite
US : U.S.: NYSE
$ 26.50
+0.80 +3.11%
Volume: 1.99M
Sept. 28, 2022 12:27p
P/E Ratio
5.23
Dividend Yield
7.53%
Market Cap
$3.00 billion
Rev. per Employee
$190,919
loading...
/zigman2/quotes/211629951/delayed
US : U.S.: Nymex
$ 81.85
+3.35 +4.27%
Volume: 226,188
Sept. 28, 2022 12:17p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
144.2860
-0.5220 -0.3605%
Volume: 0.0000
Sept. 28, 2022 12:27p
loading...
/zigman2/quotes/210561242/realtime/sampled
US : Tullett Prebon
0.9690
+0.0094 +0.9796%
Volume: 0.0000
Sept. 28, 2022 12:27p
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.