BEIJING – Asian stock prices mixed Wednesday following a rally on Wall Street for major tech companies.
Shanghai SHCOMP Integrated Index,
rose 0.7% while the Nikkei 225 NIK,
in Tokyo it was about flat. An Hang Seng HSI,
in Hong Kong added 0.5%.
An Kospi 180721,
in Seoul fell 0.2% while Sydney had S & P / ASX 200 XJO,
slip 0.4%. New Zealand NZ50GR,
rose while Singapore STI,
back. Stocks Earned in Taiwan Y9999,
and Indonesia JAKIDX,
Wall Street Standard S&P 500 SPX index,
closed up 1.4%, led by gains for Apple AAPL,
Amazon AMZN,
and other tech majors. The Nasdaq COMP composite index,
under the control of technology sectors, it rose 3.7% for the biggest gain in four months. Nevertheless, the index is 7.2% lower than its February 12 high. On Monday it closed 10% below the so-called correction on Wall Street.
Dow Jones industrial average DJIA,
having less weight towards tech, rose 0.1% to 31,832.74.
Markets have been on the move to a rise in long-term flat rates in the bond market, which has taken money out of stocks. A reversal in bond market trends has at least sent investors back to companies they hope will thrive after the coronavirus pandemic ends.
The swing shows “the fragility of sentiment, driven by the extreme uncertainty” about the outlook for flat rates and inflation, Stephen Innes of Axi said in a report.
Bond yields, or the difference between the market price of bonds and pay at maturity, have been widening due to growing expectations for growth and the inflation that may follow. Inflation erodes the value of those bond payments in the future, prompting investors to move to stocks.
The fall in bond prices attracted investors who did not want to pay high prices for stocks, especially tech stocks that looked more expensive.
Investors are pledging that the $ 1.9 trillion in forthcoming government stimulus agreed by the U.S. Senate on Saturday will help lift the U.S. economy out of its stimulated malaise the coronavirus. It provides direct payments of up to $ 1,400 for most Americans and extends emergency unemployment benefits that help support consumer spending, the main engine of the economy. .
In energy markets, US crude CLJ21 noted,
they lost 27 cents to $ 63.74 a barrel in e-commerce on the New York Merchants Trade. The contract fell $ 1.04 Tuesday to $ 64.01. Brent crude BRNK21,
used for international oil prices, it declined 38 cents to $ 67.14 a barrel in London. It went back 72 cents in the previous session to $ 67.52.
The USDJPY dollar,
it rose to 108.82 yen from 108.47 yen on Tuesday.