Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Monday, July 7
    Facebook X (Twitter) Instagram Pinterest Vimeo
    Invest Insider News
    • Home
    • Bitcoin
    • Commodities
    • Finance
    • Investing
    • Property
    • Stock Market
    • Utilities
    Invest Insider News
    Home»Stock Market»Asia report: Most markets follow Wall Street lower
    Stock Market

    Asia report: Most markets follow Wall Street lower

    October 22, 20243 Mins Read


    Asia-Pacific markets fell on Tuesday, following a dip in major US indexes during a mixed session on Wall Street.

    Investors in the region faced a light day for domestic economic data.

    “Asian stock markets are mostly down on Tuesday, reflecting the mixed signals from Wall Street overnight as bond yields rise due to diminished expectations of US Federal Reserve interest rate cuts,” said TickMill market analyst Patrick Munnelly.

    “Traders have also taken some profits after the recent market rally.

    “The uncertainty surrounding conflicts in the Middle East and Europe, as well as the US presidential election, is weighing on market sentiment.”

    Munnelly noted that after the Fed’s 50-basis-point rate cut last month, CME’s FedWatch tool currently indicated an 87% chance of just a 25-basis-point rate cut next month.

    “Dallas Fed President Lorie Logan said she supported gradual rate cuts to help manage risks and achieve the goals.”

    Most markets in the red after lacklustre Wall Street session

    In Japan, the Nikkei 225 dropped by 1.39% to 38,411.96, while the Topix fell 1.06% to 2,651.47.

    Notable declines came from M3, which plunged 4.86%, followed by Mercari at 4.01% and TOTO down 3.94%.

    China’s markets bucked the regional trend, with the Shanghai Composite gaining 0.54% to 3,285.87 and the Shenzhen Component climbing 0.85% to 10,559.51.

    Leading gains were Orient Group and Jiangsu High Hope International Group, both surging 10.13%, alongside Shanghai Xinhua Media with a 10.09% rise.

    Hong Kong’s Hang Seng Index saw a marginal decline of 0.1% to 20,498.95, with tech giants under pressure.

    BYD Electronic International dropped 3.19%, Baidu fell 2.91%, and Lenovo Group slid 2.77%.

    In South Korea, the Kospi 100 lost 1.42%, closing at 2,576.62.

    EcoPro Materials led losses with an 8.1% drop, followed by KakaoPay, down 7.12%, and Doosan Bobcat at 7%.

    Australia’s S&P/ASX 200 was one of the worst performers, falling 1.66% to 8,205.70.

    Viva Energy Group slid 6.67%, Metcash fell 6.2%, and James Hardie Industries dropped 4.65%.

    New Zealand’s S&P/NZX 50 declined 0.85% to 12,813.15, with Pacific Edge dropping 6.71%, Eroad falling 4.21%, and Oceania Healthcare down 3.7%.

    In currency markets, the dollar was last up 0.03% on the yen to trade at JPY 150.88, while it slipped 0.35% against the Aussie to AUD 1.4966 and retreated 0.34% from the Kiwi, changing hands at NZD 1.6525.

    Oil prices rose, with Brent crude futures last up 0.66% on ICE at $74.78 per barrel, and the NYMEX quote for West Texas Intermediate gaining 1.05% to $71.30.

    Korean producer price growth slows in September

    In economic news, South Korea’s producer prices in September rose at their slowest annual pace since November 2023, increasing by 1% compared to the same period a year ago.

    On a month-to-month basis, the producer price index (PPI) declined 0.2%, marking the second consecutive monthly drop.

    Reporting by Josh White for Sharecast.com.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleZions Bancorporation reports steady Q3 growth By Investing.com
    Next Article Homebuilder PulteGroup’s profit tops estimates amid demand for new properties By Investing.com

    Related Posts

    Stock Market

    Weekly Market Wrap: Insurance, Consumer goods sectors shine as All-Share Index gains 0.83% 

    July 6, 2025
    Stock Market

    Vosges. À Saint-Dié, le supermarché Vosges Market rouvre ses portes après plusieurs semaines de fermeture administrative

    July 4, 2025
    Stock Market

    GTCO to list on London stock exchange, seeks $100mln for recapitalisation

    July 4, 2025
    Leave A Reply Cancel Reply

    Top Posts

    How is the UK Commercial Property Market Performing?

    December 31, 2000

    How much are they in different states across the US?

    December 31, 2000

    A Guide To Becoming A Property Developer

    December 31, 2000
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    Property

    The typical newly built house in the U.S. is shrinking

    June 25, 2024
    Stock Market

    Why Young Investors Are Not Worried About Stock Market Swings

    April 10, 2025
    Property

    2025 has promise to be pivotal for the UK property market – Mortgage Finance Gazette

    March 13, 2025
    What's Hot

    Does Stanley Druckenmiller Know Something David Tepper Doesn’t? The Billionaire Investor is Avoiding the China Rally and Investing in Another Foreign Market Instead.

    October 26, 2024

    Pasadena voters will vote on library bond, term limits and campaign finance caps in November – Pasadena Star News

    July 30, 2024

    La fintech locale Afribit Africa utilise le bitcoin pour payer les travailleurs communautaires dans un bidonville kenyan

    June 11, 2025
    Most Popular

    L’or réaffirme le statut de sécurité, mais le chemin de Bitcoin peut être plus lumineux: les analystes

    May 31, 2025

    Bitcoin Hash Ribbon clignote le signal «Acheter» car le prix est supérieur à 107 000 $

    June 13, 2025

    Iowa Utilities Commission issues pipeline permit for Summit Carbon Solutions • Iowa Capital Dispatch

    August 28, 2024
    Editor's Picks

    Second Bitcoin mine could be coming to Woodbury County

    July 29, 2024

    Is BTC in Danger of Another Drop to $50K

    August 11, 2024

    Stock Market Today: Dow, S&P Live Updates for August 15

    August 14, 2024
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2025 Invest Insider News

    Type above and press Enter to search. Press Esc to cancel.