Asian Shares Mixed As China's COVID Cases Hit Record

RTTNews | 979 dagar sedan
Asian Shares Mixed As China's COVID Cases Hit Record

(RTTNews) - Asian stocks slipped on Friday but posted weekly gains on optimism over a less hawkish Fed. A cautious undertone prevailed amid concerns over record-high domestic daily COVID-19 cases in China.

China's Shanghai Composite index rose 0.40 percent to 3,101.69 after a choppy session as the country grappled with increasing lockdowns that have fueled frustration among the population.

Videos posted on social media showed violent clashes in "iPhone City" Zhengzhou, which plays a key role in the technology supply chain.

Property developers topped the gainers list after China's biggest commercial banks pledged at least $162 billion in fresh credit to the beleaguered sector.

Hong Kong's Hang Seng index closed 0.49 percent lower at 17,573.58, dragged down by tech firms.

Japanese shares fell and yields on the benchmark 10-year bond rose 0.5 basis points to 0.25 percent after data showed Tokyo's inflation outpaced forecasts to hit its fastest clip since 1982.

The Nikkei average slipped 0.35 percent to close at 28,283.03 but gained 1.37 percent for the week on hopes for slower interest-rate hikes in the United States. The broader Topix index finished marginally lower at 2,018.

Dentsu Group shares fell 2.7 percent after reports that prosecutors raided the headquarters of the advertising company in connection with possible bid-rigging for Tokyo Olympics test events.

Seoul stocks ended a volatile session slightly lower on concerns about China's worsening COVID-19 situation. The Kospi average eased 0.14 percent to settle at 2,437.86. LG Chem, Naver, SK Hynix and KakaoTalk fell 1-2 percent.

Australian markets rose for the fourth day running, with financials and technology stocks leading the surge. Mining and energy stocks fell on profit taking after recent strong gains.

The benchmark S&P/ASX 200 gained 0.24 percent to settle at 7,259.50 while the broader All Ordinaries index closed 0.21 percent higher at 7,447.60.

Across the Tasman, New Zealand's benchmark S&P/NZX 50 index rose 0.54 percent to 11,382.56.

U.S. markets were closed on Thursday for the Thanksgiving holiday and will close early today.

read more
Bank Of Japan Keeps Rate On Hold; Lifts Inflation Forecast On Rising Food Prices

Bank Of Japan Keeps Rate On Hold; Lifts Inflation Forecast On Rising Food Prices

The Bank of Japan maintained its interest rate but lifted its inflation outlook due to rising food prices, which had added expectations of an rate hike as soon as in October. The policy board unanimously decided to hold the uncollateralized overnight call rate to remain at around 0.5 percent.
RTTNews | 32 minuter sedan
Yen Rises After BoJ Rate Decision

Yen Rises After BoJ Rate Decision

The Japanese yen strengthened against other major currencies in the Asian session on Thursday, following the Bank of Japan's decision to increase its inflation forecast for the fiscal year while maintaining steady interest rates.
RTTNews | 44 minuter sedan
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Thursday.
RTTNews | 1h 9minuter sedan
European Economic News Preview: German Inflation, Unemployment Data Due

European Economic News Preview: German Inflation, Unemployment Data Due

Flash inflation and unemployment from Germany are due on Thursday, headlining a busy day for the European economic news. At 2.00 am ET, Destatis releases Germany's ILO unemployment data and import price figures. Import prices are forecast to fall 1.6 percent on a yearly basis in June, following a 1.1 percent drop in May.
RTTNews | 3h 10minuter sedan
Australian Market Trims Early Losses In Mid-market

Australian Market Trims Early Losses In Mid-market

The Australian market is trimming early losses in mid-market moves on Thursday, reversing some of the gains in the previous three sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,750 level, with weakness cross most sectors led by mining and energy stocks.
RTTNews | 4h 34minuter sedan
Asian Markets Mostly Lower On Tariff Worries

Asian Markets Mostly Lower On Tariff Worries

Asian stock markets are trading mostly lower on Thursday, following the mixed cues from Wall Street overnight, as traders remain cautious ahead of the final deadline of August 1 set by the US President Donald Trump for reaching trade deals with its trading partner countries. Trump hinted at higher tariffs on certain countries after the deadline. Asian markets closed mixed on Wednesday.
RTTNews | 4h 59minuter sedan