A woman wearing a face mask walked past the bank’s electronic board displaying the Hong Kong share index in Hong Kong, Thursday, Jan. 27, 2022. Asian stock markets fell by unusually wide margins on Thursday after the Federal Reserve indicated that it plans to start raising interest rates soon to cool inflation.
Kin Cheung – staff, AP
A woman wearing a face mask walked past the bank’s electronic board displaying the Hong Kong share index in Hong Kong, Thursday, Jan. 27, 2022. Asian stock markets fell by unusually wide margins on Thursday after the Federal Reserve indicated that it plans to start raising interest rates soon to cool inflation.
Mary Altaffer – staff, AP
The road sign on Wall St. is framed by American flags flying out of the New York Stock exchange, Friday, Jan. 14, 2022, in the Financial District. Stocks open with solid gains on Wall Street Wednesday, Jan. 26, which was dominated by technology stocks after Microsoft reported standout results for its most recent quarter.
Kin Cheung – staff, AP
A man wearing a face mask walked past the bank’s electronic board displaying the Hong Kong share index in Hong Kong, Thursday, Jan. 27, 2022. Asian stock markets fell by unusually wide margins on Thursday after the Federal Reserve indicated that it plans to start raising interest rates soon to cool inflation.
Mary Altaffer – staff, AP
American flags fly outside the New York Stock exchange, Friday, Jan. 14, 2022, in the Financial District of New York. Stocks are in solid start on Wall Street Thursday, Jan. 27, as markets settled following several days of whiplash moving up and down.
David L. Nemec – one -time use handout, New York Stock Exchange
In this photo provided by the New York Stock Exchange, specialist Meric Greenbaum works on her post on the trading floor, Thursday, Jan. 27, 2022. Stocks gave up early extras and became mixed in afternoon trading on Wall Street Thursday as markets struggled to settle following several days of whiplash moves.
David L. Nemec – one -time use handout, New York Stock Exchange
In this photo provided by the New York Stock Exchange, trader Americo Brunetti is working on the floor, Thursday, Jan. 27, 2022. Stocks gave up early gains and became mixed in afternoon trading on Wall Street Thursday as markets struggled to settle following several days of whiplash moves.
David L. Nemec – one -time use handout, New York Stock Exchange
In this photo provided by the New York Stock Exchange, specialist Glenn Carell, left, and businessman Sal Suarino work on the floor, Thursday, Jan. 27, 2022. Stocks gave up early extras and became mixed in afternoon trading on Wall Street Thursday as markets struggled to settle following several days of whiplash moves.
Eugene Hoshiko – staff, AP
A man wearing a protective mask looks at an electronic stock board displaying Japan’s Nikkei 225 index at a securities firm on Friday, Jan. 28, 2022, in Tokyo. Asian stock markets were mixed Friday as traders looked at data on U.S. labor costs that could influence the Federal Reserve’s decisions on planned interest increases.
Eugene Hoshiko – staff, AP
A man wearing a protective mask looks at an electronic stock board displaying Japan’s Nikkei 225 index at a securities firm on Friday, Jan. 28, 2022, in Tokyo. Asian stock markets were mixed Friday as traders looked at data on U.S. labor costs that could influence the Federal Reserve’s decisions on planned interest increases.
Eugene Hoshiko – staff, AP
A man wearing a protective mask walks in front of an electronic stock board displaying Japan’s Nikkei 225 index at a securities firm on Friday, Jan. 28, 2022, in Tokyo. Asian stock markets were mixed Friday as traders looked at data on U.S. labor costs that could influence the Federal Reserve’s decisions on planned interest increases.
Eugene Hoshiko – staff, AP
A woman wearing a protective mask walks in front of an electronic stock board displaying Japan’s Nikkei 225 index at a securities firm on Friday, Jan. 28, 2022, in Tokyo. Asian stock markets were mixed Friday as traders looked at data on U.S. labor costs that could influence the Federal Reserve’s decisions on planned interest increases.
Eugene Hoshiko – staff, AP
A woman wearing a protective mask is cycling in front of an electronic stock board showing Japan’s Nikkei 225 and New York Dow at a securities firm on Friday, Jan. 28, 2022, in Tokyo. Asian stock markets were mixed Friday as traders looked at data on U.S. labor costs that could influence the Federal Reserve’s decisions on planned interest increases.
BEIJING (AP)-Asian stock markets were mixed on Friday as traders looked at data on U.S. labor costs that could influence the Federal Reserve’s decisions on planned interest rates.
Tokyo and Seoul advanced while Shanghai and Hong Kong declined.
Wall Street fell for a third day Thursday after the U.S. government reported the economy grew 5.7% last year, its strongest annual rate since 1984.
Investors are looking to U.S. data on labor costs for indications of when and how much the Fed may raise interest rates to dampen surging inflation. Investors are expecting at least four rate increases this year after Fed officials said the stimulus boosting stock prices would subside sooner than previously planned.
The Employment Cost Index is expected to show a labor price increase of approximately 1.2% in the previous quarter in the last three months of 2021.
“Another strong wage gain could boost market expectations” of an unusually large rate increase of 0.5 percentage points in early March, Anderson Alves of ActivTrades said in a report.
The Shanghai Composite Index lost 0.7% to 3,372.26 and the Hang Seng in Hong Kong sank 1% to 23.564.09.
The Nikkei 225 in Tokyo rose 2.1% to 26,720.06, recovering most of its losses from the previous day’s 2.5% slide.
Kospi in Seoul rose 1.4% to 2,650.11 while Sydney’s S & P-ASX 200 grew 2% to 6,977.20.
New Zealand fell 1% as Southeast Asian markets rose.
On Wall Street, the benchmark S&P 500 index fell 0.5% to 4,326.51 after official data showed the U.S. economy grew 5.7% last year, its strongest rate since 1984 to jump 7.2%. .
The index is within 10 points of entering a correction, meaning a 10% drop from its January 3 high of all time.
The Dow Jones Industrial Average dropped less than 0.1% to 34,160.78. The Nasdaq composite was down 1.4% to 13,352.78.
Stocks are on a roller coaster ride this week as investors try to figure out what the Fed will do after Powell said inflationary pressures have not eased.
“The Fed has erred in inflation and the scramble to deliver interest increases this year is sending out best-performing assets during the pandemic collapse,” Oanda’s Edward Moya said in a report.
Consumer spending -dependent companies and banks have sunk. Royal Caribbean fell 6.3% and JPMorgan Chase fell 1.8%.
Technology stocks are gone. Expensive tech companies and other growth stocks are less attractive when rates rise. Nvidia fell 3.6%.
In energy markets, benchmark U.S. crude rose 61 cents to $ 87.22 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 74 cents on Thursday to $ 86.61. Brent crude, the price base for international oil, advanced 40 cents to $ 88.57 per barrel in London.
The dollar rose to 115.40 yen from 115.31 yen on Thursday. The euro advanced to $ 1.1158 from $ 1.1142.
#Asian #stocks #rallied #Wall #Street #sank #day #Source Link #Asian stocks rallied after Wall Street sank for a third day
