Asian Stocks Drop Due to Technical Shares Slump

Asian Stocks Drop Due to Technical Shares Slump

Asian stocks drop on Wednesday. Technology stocks echoed a similar decline in the sector on Wall Street in the region. The Nikkei 225 ended up at 29.332.16 and rose 0.1%. The S&P/ASX 200 fell to 7.565.80, down 0.3%. Kospi fell to 2,950.71, a total of 1.3%. Hang Seng also fell 1.3% to 22,985.05. The Shanghai Composite fell to 3.596.03 and was down 1.0%. At the same time, concerns about COVID-19 continue. Omicron dominance is constantly increasing in the region.

Many people in Japan do not heed warnings about taking precautions. The crowd came out in Tokyo. The use of booster doses in the country has hardly begun. Prime Minister Fumio Kishida has promised to speed up the process of additional vaccines and mobilize medical professionals. An increase in the dynamics of the Omicron virus spread in the region is still expected. The risk could be in any further restrictive measures that could obscure the prospects of the service sector; With the disruption of supply chains.

Asian Stocks in 2022

Analysts predict that the turmoil in Asian trade will continue for some time. However, the daily incidence recorded there is still tiny compared to the U.S. and Europe. However, the growth is so fast the change is coming quickly and reaches 1000 in Japan. Expert opinion is divided among those who think that Omicron can cause less severe disease; Including those who need more caution. Any restrictions on business activities will inevitably affect the recovery that every country will hope for soon.

According to ING Asia-Pacific Regional Research Director; Global markets seem to write off Omicron as an existential threat. Some suggest that the Omicron variant is the latest type of Covid. Let’s hope it becomes a reality. However, the final blow to activity in Asia may still be forthcoming; Until the world returns to everyday life.

On Tuesday, the decline in tech stocks on Wall Street left the S&P 500 slightly lower. Dow Jones Industrial Average set another record. The S&P 500 fell to 4,793.54, or 0.1% overall. The Nasdaq composite fell to 15,622.72, up 1.3% after one-day trading. The Dow rose 0.6% to 36,799.65. JPMorgan Chase and Caterpillar gained solid gains of 3.8% and 5.4%, respectively. The Russell 2000 Index fell to 2,268.87, up 0.2% overall.

Technical Shares

Banks were one of the biggest losers. Bond yields increased. This raised the 10-year treasury revenue to 1.65%. The work on Friday was 1.51%. When investors sell bonds, their prices fall, hence their returns increase. 2022 The stock started well on Monday. Dow and S&P 500 set new figures. The combination of corporate quarterly earnings reports and economic data should give investors some insight into the impact of the coronavirus pandemic; As well as ever-increasing inflation for companies and consumers.

The labor market will be the main focus for investors. Starting with the December report on the work of the Department of Labor; Which is expected to be published on Friday. Several parts of the economy are still disturbing. Supply chain problems are particularly pronounced. The rise of the construction business deferred to an 11-month small in December. The company will announce its December note for the service part on Thursday.

Meanwhile, investors are awaiting the Federal Reserve’s latest policy meeting minutes, released on Wednesday. On Thursday, Conagra, Constellation Brands, and Walgreens disclosed their most updated quarterly income.

In the New York Mercantile Exchange, the U.S. crude traded up $76.91 a barrel in electronic trading on the New York Mercantile Exchange; In total, it fell by 8 cents. On Tuesday, it rose 91 cents; And was $76.99 per barrel. The international standard Brent crude oil price fell to $79.94 and decreased by 6 cents. In currency trading, the U.S. dollar fell to 116.00 Japanese yen. The current dollar length against the yen is at a five-year huge. The cheap yen can be a plus for giant exporters of Japan. Euro, amounting to $1.1299.

The post Asian Stocks Drop Due to Technical Shares Slump appeared first on FinanceBrokerage.

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