TOKYO – Asian stocks fell mostly on Thursday as caution came in reporting earnings on the company, the recent turbulent trading of technology stocks and the prospect of a greater economic stimulus for a pandemic world .
Japanese Nikkei 225 NIK,
decreased by 0.5% in early trading, while Kospi 180721 in South Korea,
decreased by 1.6%. S & P / ASX 200 XJO from Australia,
decreased by 0.6%. Hang Seng HSI in Hong Kong,
lost 1.2%, while Shanghai Composite SHCOMP,
decreased by 1%. Stocks rose in Indonesia JAKIDX,
and Malaysia FBMKLCI,
but fell into the Singapore STI,
and Taiwan Y9999,
Also on the minds of market players is the global launch of vaccines, which is increasingly organized in the US, but which is not yet taking place in much of Asia, except in China, where the pandemic began.
“As the rally has fallen for the US market, Asian markets can be seen left to their own devices in Thursday’s session and it looks like investors could block some of the recent gains,” said Jingyi Pan, a senior market strategist for IG in Singapore.
Wall Street ended modestly with the S&P 500 SPX,
it increased by 3.86 points, or 0.1%, to 3,830.17, after oscillating between a gain of 0.6% and a loss of 0.3%. The small gain extended the winning series of the benchmark to the third day.
Dow Jones Industrial Average DJIA,
gained 36.12 points, or 0.1%, to 30,723.60. Nasdaq COMP, a heavy technology
decreased by 2.23 points, or less than 0.1%, to 13,610.54. The index was briefly above the all-time high last week.
Energy, communications and financial stocks contributed to the rise of the market. These gains were mainly kept under control by decreases in companies that rely on consumer spending and technology stocks.
GameStop and other cutting-edge stocks posted modest gains on Wednesday. GameStop GME,
increased by 2.7% and AMC AMC,
increased by 14.7%. The shares have been caught in a speculative frenzy by traders in online forums trying to cause damage to Wall Street hedge funds who have bet that the shares would fall. GameStop fell 60% on Tuesday, and AMC Entertainment lost 41.2%.
“There’s been a tug of war that’s been brewing for about a week now, that markets are ripe for a correction and whether last week’s events are a rushed event,” said Jamie Cox, managing partner at Harris Financial Group.
Stocks rose largely this week, an encouraging start for February, after a late blurring in January as volatility rose amid concerns about the timing and scope of another round of stimulus spending by the administration. Biden, concerned about the effectiveness of the government’s distribution of the coronavirus vaccine and turbulent changes in GameStop and other actions posted on social networks.
This volatility has eased this week, with Wall Street focusing mainly on corporate revenue reports, while Washington is looking for signs of progress on a new aid package.
Democrats and Republicans remain aloof in support of President Joe Biden’s $ 1.9 trillion stimulus package, but investors bet the administration will opt for a reconciliation process to get legislation through Congress.
In energy trading, US gross reference CLH21,
gained 15 cents at 55.84% barrel. Brent gross BRNJ21,
the international standard, added 6 cents to $ 58.52 a barrel.
In foreign exchange, the US dollar USDJPY,
reduced to 105.02 Japanese yen from 105.06 yen.