Asian Markets Trading Mostly Lower

(RTTNews) – Asian stock markets are mostly trading lower on Monday, following broadly negative signals from Wall Street on Friday, amid growing concerns about inflationary pressures and a possible rate hike as traders await the US Federal Reserve’s latest policy decision on Wednesday. . Meanwhile, concerns about the impact of the rapidly spreading viral Omicron variant on global economic growth continue to weigh on market sentiment. Asian markets closed mostly lower on Friday.

The Australian stock market slipped slightly on Monday, extending losses in the previous session, with the S&P/ASX 200 index remaining above the 7100 level, following broadly negative signals from Wall Street on Friday, with weakness across the industry, in particular. Technology and mining stocks, amid inflation concerns and policy tightening by the US Federal Reserve.

Meanwhile, merchants remain concerned about local Covid-19 cases, even though daily new cases are steadily declining. New South Wales recorded 15,091 new cases and 24 deaths on Sunday, and Victoria also recorded 11,695 new cases and 17 deaths. Queensland recorded 10,212 new cases and 13 deaths, the ACT reported 756 new cases and Tasmania reported 619 new cases.

The benchmark S&P/ASX 200 lost 28.80 points, or 0.40 percent, to 7,147.00, after hitting a low of 7,086.80 earlier. The broader All Ordinaries index fell 40.30 points, or 0.54 percent, to 7,449.80. The Australian share market closed sharply lower on Friday.

Among the major miners, Rio Tinto and BHP Group are losing more than 1 percent each, while Mineral Resources is down more than 4 percent, Fortescue Metals is down more than 2 percent and OZ Minerals is down nearly 4 percent. Oil stocks fell, with Woodside Petroleum, Origin Energy and Santos each losing more than 1 percent, while shore energy fell more than 2 percent.

Among tech stocks, Appen is losing nearly 2 percent, Zip is down more than 2 percent, Xero is down more than 1 percent, and WiseTech Global is losing nearly 1 percent. Less gold miners. Evolution Mining is losing more than 2 percent, Gold Road Resources is down nearly 4 percent, Northern Star Resources is down more than 3 percent, Newcrest Mining is down about 2 percent, and Resolute Mining is down 6 percent. Approximately.

Shares in Regis Resources fell more than 12 percent after the gold miner cut its full-year forecast.

Among the big four banks, Commonwealth Bank rose 0.1 per cent, National Australia Bank fell 0.5 per cent, Westpac stock fell nearly 1 per cent and ANZ Bank lost more than 1 per cent.

In economic news, Australia’s manufacturing sector continued to expand in January, albeit at a slower rate, the latest survey from Markit Economics revealed on Monday with a manufacturing PMI score of 55.3. This is down from 57.7 in December, although it is still above the boom or contraction line at 50 that separates expansion from contraction. The survey also showed that the services PMI fell to 45.0 from 55.1 in December, while the composite PMI fell to 45.3 from 54.9.

In the currency market, the Australian dollar is trading at $0.718 on Monday.

The Japanese stock market fell slightly on Monday, extending losses in the previous session, with the Nikkei 225 index just below the 27,400 level, after broadly negative signals from Wall Street on Friday, with traders selling shares amid inflation concerns and policy tightening by the Reserve. US Federal Reserve.

Traders also remain concerned about the sudden rise in domestic coronavirus cases, as Japan crossed 50,000 new cases per day for the second day in a row and hit record highs for the sixth day in a row. The majority of the 47 provinces are at record levels, with 17 in place with a semi-state of emergency as of Friday and more are expected to follow.

The Nikkei 225 benchmark index closed the morning session at 27,371.11, down 151.15 points, or 0.55 percent, after recording 27,203.33 points earlier. Japanese stocks closed significantly lower on Friday.

Market heavyweight SoftBank Group is losing more than 2 percent, while operator Uniqlo Fast Retailing is up 0.5 percent. Among the automakers, Honda is losing nearly 2 percent and Toyota is losing more than 1 percent. In technology, Advantest and Tokyo Electron are up 0.5 percent, while Screen Holdings is gaining nearly 2 percent. In the banking sector, Sumitomo Mitsui Financial and Mitsubishi UFJ Financial each gained nearly 1 percent, while Mizuho Financial added more than 1 percent.

Leading issuers vary, with Panasonic down 0.2 percent, Sony gaining nearly 2 percent, Canon adding more than 1 percent, and Mitsubishi Electric up 0.3 percent.

Other major losers include Mitsui E&S Holdings, which is down nearly 12 percent, Nippon Express is down nearly 6 percent, Pacific Metals is down nearly 5 percent, and Nexon is down nearly 4 percent, while Daiwa Securities, Casio Computer and Toho are all down. Zinc more. of 3 percent each. Conversely, Kawasaki Kisen Kaisha and Inpex earn nearly 4 percent each, while Concordia Financial, Nikon and Fukuoka Financial add more than 2 percent each.

In economic news, Japan’s manufacturing sector continued to expand in January, and at a faster rate, the latest survey conducted by Jibun Bank revealed on Monday with a manufacturing PMI score of 54.6. This is up from 54.3 in December, and moves further above the boom or contraction line at 50 that separates expansion from contraction. The survey also showed that the services PMI fell to 46.6 from 51.1 in December, while the composite PMI fell to 48.8 from 51.9.

In the currency market, the US dollar is trading in a range of 113 yen higher on Monday.

Elsewhere in Asia, South Korea is down 1.8 percent and Hong Kong is losing 1.2 percent, while New Zealand, Indonesia, Malaysia, Singapore and Taiwan are down 0.2-0.9 percent each. China bucks the trend and is up 0.1%. On Wall Street, stocks fell again on Friday, hugging both sides of the unchanged line in the morning before entering into a free fall in the afternoon to finish in the red for the fourth session in a row.

For the day, the Dow Jones Index fell 450.02 points, or 1.30 percent, to close at 3,4265.37, while the Nasdaq fell 385.10 points, or 2.72 percent, to close at 13.768.92, and the Standard & Poor’s 500 Index fell 84.79 points, or 1.89 percent, to close at 4397.94.

The major European markets also closed sharply lower for the day. Britain’s FTSE 100 ended 1.2 percent lower, Germany’s DAX fell 1.94 percent and France’s CAC 40 fell 1.75 percent.

Crude oil prices closed lower on Friday for the second consecutive session, despite rising from session lows. Crude oil’s correction continued after touching a seven-year high earlier in the week on demand optimism and short-term supply turmoil. West Texas Intermediate crude futures fell 0.86% to $84.81 a barrel, after falling 3.2% earlier.

The opinions and opinions expressed here are those of the author and do not necessarily reflect the views and opinions of Nasdaq, Inc.

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