Search / 11 results found

from
to
AP
  • Updated

Asian shares are mostly declining amid a global fall in technology shares, including Japan’s SoftBank, which just reported hefty losses caused by the market downturn. Such worries are coming on top of concerns about inflation and what central banks might do to curb it. Shares fell Tuesday in Tokyo but rose in other regional markets. U.S. futures edged higher while oil prices fell. Analysts say regional tensions also remain a risk after the recent visit of U.S. House Speak Nancy Pelosi to Taiwan. Technology stocks were the biggest drag on Wall Street, where the benchmark S&P 500 edged 0.1% lower.

  • Updated

Benchmark U.S. crude oil for September delivery rose $2.20 to $98.62 a barrel Friday. Brent crude for September delivery rose 52 cents to $107.14 a barrel. Wholesa e gasoline for August delivery fell 2 cents to $3.49 a gallon. August heating oil fell 6 cents to $3.62 a gallon. September natural gas rose 10 cents to $8.23 per 1,000 cubic feet. Gold for August delivery rose $12.60 to $1,762.90 an ounce. Silver for September delivery rose 33 cents to $20.20 an ounce and September copper rose 10 cents to $3.57 a pound. The dollar fell to 133.35 Japanese yen from 134.35 yen. The euro rose to $1.021 from $1.017.

AP
  • Updated

Asian shares are mostly higher following a broad rally on Wall Street, but Hong Kong's benchmark sank more than 2%. Investors have grown more convinced that the Federal Reserve may temper its aggressive interest rate hikes aimed at taming inflation after data showed the U.S. economy contracted in the last quarter. But investors are cautiously eyeing regional tensions over China’s stance on Taiwan after President Joe Biden and China’s Xi Jinping spoke for more than two hours on Thursday. Japan's factory output in June jumped 8.9% from the previous month. The Commerce Department reported the U.S. economy contracted at a 0.9% annual pace in April-June following a 1.6% year-on-year drop in the first quarter.

AP
  • Updated

Shares are mostly higher in Asia after the Federal Reserve ratcheted up its campaign against surging inflation by raising its key interest rate three-quarters of a point. The Hong Kong Monetary Authority matched that with an increase of its own. Oil prices pushed higher while U.S. futures edged lower. The Fed’s latest hike lifts the benchmark short-term rate to its highest level since 2018. The S&P 500 gained 2.6% and the technology heavy Nasdaq jumped by the most in over two years. The Dow Jones Industrial Average also closed higher. Strong earnings from Google's owner Alphabet, Microsoft and other companies helped lift investors’ mood.

AP
  • Updated

Asian stock markets are higher as investors brace for another sharp interest rate hike by the Federal Reserve to cool inflation. Shanghai, Hong Kong and Seoul advanced. Tokyo edged lower. Oil prices rose more than $1 per barrel. Wall Street's benchmark S&P 500 index gained 0.1% ahead of this week’s Fed meeting at which officials are expected to announce a rate hike of up to three-quarters of a percentage point, triple the usual margin. Investors worry that aggressive rate hikes by the Fed and other central banks to contain surging inflation might derail global economic growth.

AP
  • Updated

Asian shares are mostly higher after another day of gains on Wall Street amid a deluge of news about the economy, interest rates and corporate profits. Tokyo, Hong Kong and Sydney advanced while Seoul and Shanghai declined. U.S. futures edged lower while oil prices rose. On Thursday, the S&P 500 climbed 1%, returning to its highest level in six weeks. The Dow rose 0.5% and the Nasdaq rose 1.4%. Much of the focus this week has been on Europe. The European Central Bank opted, as expected, Thursday to raise its key interest rate, ending a yearslong experiment with negative interest rates. Japan remains the holdover, keeping its minus 0.1% rate unchanged after years of battling deflation.

AP
  • Updated

Asian shares have mostly fallen on persistent concerns about inflation and the Chinese economy, despite an overnight rally on Wall Street. Eyes are on the Bank of Japan, set to announce a decision after a two-day policy meeting, although analysts expect no major changes. The central bank has not indicated it will follow suit with others around the world, including the U.S. Federal Reserve, in raising interest rates to curb inflation. Japan has suffered years of stagnation, when deflation was a major problem. Regional benchmarks fell in morning trading except in Seoul.

AP
  • Updated

Asian shares are mostly lower as investors weigh oil prices, inflation worries and corporate earnings. Tokyo's benchmark was higher but other major indexes declined in morning trading after an early rally evaporated on Wall Street. Oil prices edged lower and U.S. futures gained. On Monday, gains in energy producers, big retailers and other companies that rely on consumer spending were outweighed by a pullback in health care and technology stocks. The U.S. market has been lurching mostly lower for weeks on worries that the Federal Reserve and other central banks will slam the brakes too hard on the economy to counter inflation. If they’re too aggressive with their interest-rate hikes, they could cause a recession.

AP
  • Updated

Asian stock markets have climbed Thursday despite a record-setting U.S. inflation report that pointed to more possible interest rate hikes that investors worry will chill economic growth. Oil prices edged higher. Wall Street’s benchmark S&P 500 index lost 0.4% after data showed U.S. consumer inflation accelerated to 9.1% in June over a year earlier. That was despite three rate hikes this year by the Federal Reserve. Investors worry that aggressive action by central banks to cool inflation that is at four-decade highs might derail global economic growth. Traders expect another rate hike this month, probably matching last month’s 0.75-percentage-point rise, the biggest in 28 years and three times the usual margin.

AP
  • Updated

Asian stock markets are higher as investors wait for U.S. inflation data some worry might lead to more interest rate hikes. Shanghai, Tokyo, Hong Kong and Seoul rose on Wednesday. Sydney declined. Oil prices rebounded from Tuesday’s plunge but stayed below $100 per barrel. Wall Street’s benchmark S&P 500 index declined Tuesday ahead of the government’s release of data on June consumer prices and company results. Investors worry U.S. and European central bank action to cool inflation that is running at a four-decade high might derail global economic growth. The U.S. bond market is flashing warning signals of a possible recession.