Asian markets are mostly up | Nasdaq

(RTTNews) – Asian stock markets are trading mostly higher on Wednesday, despite broadly negative signals from Wall Street overnight, amid firm bullion prices and positive signals from European markets. Signs that COVID infections may have peaked in some major Chinese cities are also helping market sentiment as traders hope for a quick recovery from the post-COVID era in China. Asian markets closed mixed on Tuesday.

Traders are also eagerly awaiting Wednesday afternoon’s release of the US Fed’s minutes, which could impact the outlook for interest rates, as well as the release of the monthly US jobs report, closely monitored, Friday.

Australia’s stock market is trading significantly higher on Wednesday, recouping losses from the previous session, with the benchmark S&P/ASX 200 rising above the 7,000 mark, despite broadly negative signals from Wall Street overnight, with gains across most sectors, led by technology and gold mining stocks.

The benchmark S&P/ASX 200 gained 91.80 points or 1.32% to 7,038.00, after hitting a high of 7,046.00 earlier. The broader All Ordinaries index is up 94.10 points or 1.32% to 7,225.20. Australian stocks ended sharply lower on Tuesday.

Among the major miners, BHP Group, Rio Tinto and Fortescue Metals each gained more than 1%, while mineral resources rose nearly 3%. OZ Minerals is flat.

Oil inventories are mixed. Santos is down nearly 1% and Woodside Energy is down nearly 2%, while Beach Energy is up 0.3% and Origin Energy is up more than 1%.

In the tech space, Block and Appen, owner of Afterpay, are up more than 4% each, while Xero gains almost 3%, WiseTech Global adds almost 2% and Zip is up almost 1%.

Among the big four banks, National Australia Bank and Commonwealth Bank each earn more than 1%, while Westpac gains nearly 2%. ANZ Banking was down 0.4%.

Among gold miners, Newcrest Mining and Gold Road Resources are each up nearly 2%, while Evolution Mining, Resolute Mining and Northern Star Resources are up nearly 3% each.

In the currency market, the Australian dollar is trading at $0.677 on Wednesday.

The Japanese stock market is down sharply on Wednesday, giving up slight gains from the previous session, with the Nikkei 225 falling below the 25,800 level, following broadly negative signals from Wall Street overnight, as traders remained concerned about the rises interest rates and recession. fears even as they returned from a long New Year’s weekend.

Traders also reacted to national data that showed the manufacturing sector continued to contract at a faster pace in December.

The benchmark Nikkei 225 closed the morning session at 25,724.66, down 369.84 points or 1.42%, after hitting a low of 25,661.89 earlier. Japanese stocks ended slightly higher on Friday ahead of the extended New Year weekend holiday.

Market heavyweight SoftBank Group was down 0.3% and operator Uniqlo Fast Retailing was down 1.5%. Among automakers, Honda rose 0.5%, while Toyota lost nearly 1%.

In the tech space, Tokyo Electron is down 0.4%, Advantest is down more than 2%, and Screen Holdings is down more than 1%.

In the banking sector, Sumitomo Mitsui Financial gained nearly 2%, Mitsubishi UFJ Financial gained nearly 4% and Mizuho Financial gained nearly 2%.

Among major exporters, Sony gained nearly 2%, while Canon and Mitsubishi Electric lost nearly 1% each. Panasonic is down 0.4%.

Among the other big losers, Eisai, Kawasaki Kisen Kaisha and Nippon Yusen KK each fell nearly 6%, while Daiichi Sankyo lost more than 5%. Mitsui OSK Lines and Mitsubishi Motors fell nearly 5% each, while Tokyo Gas fell more than 4%. Sapporo Holdings, Mazda Motor and Inpex are down nearly 3% each.

Conversely, Nippon Sheet Glass gained nearly 4%.

In economic news, the manufacturing sector in Japan continued to contract in December, and at a slightly faster pace, the latest Jibun Bank survey showed on Wednesday with a manufacturing PMI score of 48.9. That’s down from 49.0 in November and is moving further below the 50 expansion or recession line that separates expansion from contraction.

In the currency market, the US dollar is trading in the upper range of 130 yen on Wednesday.

Elsewhere in Asia, Hong Kong is up 2.1%, New Zealand 1.5% and South Korea 1.1%, while China, Singapore and Taiwan are up 0.1 to 0.4 % each. Indonesia and Malaysia are down 0.2 and 0.1%, respectively.

On Wall Street, stocks ended Tuesday’s trading lower, starting the new year on a negative note. Major averages saw initial strength but came under pressure during morning trading.

Major averages were well above their worst levels late in the session, but remained in negative territory. The Dow edged down 10.88 points or less than a tenth of a percent to 33,136.37, the Nasdaq slipped 79.50 points or 0.8 percent to 10,386.98 and the S&P 500 rose. fell 15.36 points or 0.4 percent to 3,824.14.

Meanwhile, major European markets all traded higher on the day. While Britain’s FTSE 100 index jumped 1.4%, Germany’s DAX index climbed 0.8% and France’s CAC 40 index climbed 0.4%.

Crude oil prices fell on Tuesday amid worries about the outlook for energy demand due to growing fears of a recession. West Texas Intermediate crude oil futures for February ended down $3.33 or 4.2% at $76.93 a barrel, a two-week low.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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