Asian stocks mixed after Wall Street rebound - Albuquerque Journal

Asian stocks mixed after Wall Street rebound

BEIJING — Asian stock markets were mixed Wednesday after Wall Street rebounded and Japanese exports surged as investors tried to figure out how rising coronavirus infections will affect the global economy.

Shanghai, Tokyo and Sydney advanced. Hong Kong and Seoul declined.

Overnight, Wall Street’s benchmark S&P 500 index gained 1.5%, recovering much of the previous day’s loss.

Japan’s government reported June exports jumped 48.5% over a year earlier, beating forecasts. The increase was inflated by a plunge in trade in 2020, but still reflects strong demand overseas, especially in the U.S. and China.

“Defensive flows eased. However, gains are likely to be capped by lingering concerns over COVID-19′s Delta variant,” said Anderson Alves of ActivTrades in a report. “A new wave of infections could delay the reopening of global economies.”

Also Wednesday, South Korea reported a daily high of 1,784 new coronavirus cases, adding to a global surge blamed on the virus’s more contagious delta variant.

The Shanghai Composite Index rose 0.4% to 3,554.01 while the Nikkei 225 in Tokyo added 0.5% to 27,523.75.

The Hang Seng in Hong sank 1% to 26,997.80 and the Kospi in Seoul shed 0.4% to 3,220.64.

Sydney’s S&P-ASX 200 advanced 0.9% to 7,318.90 after the Australian government reported retail sales rose 1.3% over a year ago in the three months ending in June. New Zealand and Jakarta gained while Singapore declined.

On Wall Street, the S&P 500 rose to 4,323.06, recovering most of its 1.6% decline on Monday, its biggest in two months.

The Dow Jones Industrial Average rose 1.6% to 34,511.99. The Nasdaq composite gained 1.6% to 14,498.88.

The U.S. market has gained ground in choppy trading despite uncertain about the lingering impact of the virus on business activity and inflation.

The Centers for Disease Control has said an estimated 83% of U.S. cases in the U.S. are tied to the virus’s delta variant.

Investors have been encouraged by quarterly results from U.S. companies showing many are increasing profits.

IBM Corp. and hospital operator HCA Healthcare both advanced after reporting higher revenue and profit than expected.

In energy markets, benchmark U.S. oil lost 51 cents to $66.69 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the price basis for international oils, shed 54 cents to $68.81 per barrel in London.

The dollar gained to 109.91 yen from Tuesday’s 109.83 yen. The euro fell to $1.1773 from $1.1783.


Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

Nativo Sponsored Content

Ad Tango

taboola desktop

MORE ARTICLES LIKE THIS

1
Search warrant, 911 calls detail movie set shooting
ABQnews Seeker
911 calls released Friday morning paint ... 911 calls released Friday morning paint a picture of the film crew’s response after authorities say Alec Baldwin discharged a prop gun that killed ...
2
Alec Baldwin fires prop gun that kills 1, injures ...
ABQnews Seeker
Incident took place on movie set ... Incident took place on movie set outside Santa Fe
3
Man's death in custody of APD ruled a homicide
ABQnews Seeker
Officers found to have violated policy ... Officers found to have violated policy in use-of-force procedures
4
Navajo group claims uranium mining violates its human rights
ABQnews Seeker
Community resistance to mine license dates ... Community resistance to mine license dates back to mid-1990s
5
Booster shots cleared for more NM adults
ABQnews Seeker
The state Department of Health on ... The state Department of Health on Friday expanded eligibility for COVID-19 booster shots to more New Mexicans, though the priority remains getting first doses ...
6
Ronchetti steps down from TV job amid campaign intrigue
ABQnews Seeker
Mark Ronchetti could be inching closer ... Mark Ronchetti could be inching closer to a gubernatorial run, after abruptly resigning his job as a KRQE-TV meteorologist Thursday on the heels of ...
7
New Mexico unemployment rate drops to lowest since March ...
ABQnews Seeker
The state's unemployment rate was the ... The state's unemployment rate was the fifth-highest in the nation in September.
8
GOP, district attorney settle records lawsuit
ABQnews Seeker
The state Republican Party has reached ... The state Republican Party has reached a small financial settlement with the 2nd Judicial District Attorney's Office after accusing prosecutors of failing to turn ...
9
Police shooting in homicide probe is detailed
ABQnews Seeker
Suspected carjacking by person of interest Suspected carjacking by person of interest
10
Fatal crash nets 6 years
ABQnews Seeker
Judge sentences man who was involved ... Judge sentences man who was involved in 2017 collision