Analytics

Following mixed trading on Wall Street, Asian equities were mostly higher on Wednesday, with risk sentiment staying mixed amid persisting uncertainty surrounding banks, the economy, and the Fed policy. Japan’s benchmark Nikkei 225 rose 0.57%, Australia’s S&P/ASX 200 added 0.47% while South Korea’s Kospi edged up 0.11%. Hong Kong’s Hang Seng index lost 0.95% and the Shanghai Composite index added 0.41%. In his latest remarks, BOJ deputy governor Uchida said the central bank will continue monetary easing to achieve price stability target.

Asian stock markets rose at the start of the week as Friday’s US report showed resilience in the country’s jobs market. The data showed American employers added 236,000 jobs last month, a slowdown from February’s 326,000 and almost in line with expectations. Wages grew 0.3% from February, in line with projections. The US stock market was closed in observance of Good Friday.

US stocks dipped overnight as market players were upset despite a dovish rate hike by the Fed. As expected, the central bank raised rated by just 0.25%, while at the same time acknowledging issues in the banking sector, thus spooking investors.

Asian stocks surged on Friday after a series of sharp losses earlier this week. Investor sentiment was helped by government support to stem a potential banking crisis. Also, traders continue to price in a less hawkish Federal Reserve. China’s Shanghai Composite index ended up 0.73% after Goldman Sachs hiked its Chinese GDP outlook for the year. Hong Kong’s Hang Seng index jumped 1.8% amid gains in technology stocks. In Japan, the Nikkei 225 added 1.20% while South Korean Kospi added 0.75%.

Wall Street markets closed higher on Friday as Treasury yields retreated from multi-month highs. The yield on benchmark 10-year Treasury note dipped below the 4% threshold, thus triggering some improvement in risk sentiment. As such, the Dow Jones Industrial Average rose 1.17%, the S&P 500 climbed 1.61%, and the Nasdaq Composite gained 1.97%. For the week, the Dow posted a 1.75% gain, the S&P 500 closed up 1.90%, and the Nasdaq ended 2.58% higher.

Wall Street equities slipped overnight as investors digested another hotter-than-expected inflation report showed the economy remains resilient despite the Federal Reserve’s rate hikes. January’s producer price index rose 0.7% on the month versus the expected increase of 0.4%. As such, the Dow Jones shed 1.26%, the Nasdaq Composite fell 1.78% and the S&P 500 Index gave up 1.38%.

Asian equities saw a bearish session on Friday to register the second weekly loss in a row, with MSCI's broadest index of Asia-Pacific shares shedding 0.91%. The index suffered a 1.36% weekly decline, after losing 1.16% in the previous week. The Shanghai Composite Index fell 0.30% after the data showed that China's January factory gate prices fell more than expected. Bucking the trend, Japan’s Nikkei 225 added 0.31% due to upbeat earnings reports.

Asian stock markets were mostly lower on Monday as investors digested a stronger-than-expected US jobs report. The data showed that the US economy added 517,000 jobs in January, exceeding estimates of a jobs gain of 187,000. The sentiment in the region was also dented by fears of worsening Sino-US relations after the shooting down of a suspected Chinese spy balloon over the weekend. Against this backdrop, the Shanghai Composite index lost 0.76%. Meanwhile, Hong Kong’s Hang Seng index slumped 2.1% while South Korean Kospi lost 1.7%. Bucking the trend, Japan’s Nikkei 225 gained 0.67% at the start of the week.

Wall Street stocks finished mostly lower overnight amid mixed corporate earnings reports and more signs that the economy is slowing. The S&P 500 dipped 0.07%, while the Nasdaq Composite dropped 0.27%. Bucking the trend, the Dow Jones added 0.31% to register the third consecutive day of gains. Shares of General Electric rallied 1.7% after the company delivered an upbeat profit forecast. Microsoft shares were up more than 3% in after-hours trading even as the tech giant missed revenue expectations.