Home News Asian Stocks Mixed, U.S. Chinese Shares Cool Rally By Investing.com

Asian Stocks Mixed, U.S. Chinese Shares Cool Rally By Investing.com

by WOOWinvest
0 comment
Asian Stocks Mixed, U.S. Chinese Shares Cool Rally



© Reuters.

by Gina Lee

Investing.com – Asia-Pacific shares were mixed on Friday morning, as a rebound in Chinese stocks cooled in the United States. Investors continued to digest mixed signals of peace talks to end the conflict in Ukraine.

Japan was up 0.28% at 10:36pm ET (2:36am GMT) after an announcement on monetary policy earlier in the day. The data also showed that in February 2022 (CPI) rose 0.6% year-on-year. National CPI rose 0.9% and 0.4%.

South Korea edged down 0.02%, Australia rose 0.32%

Hong Kong stocks fell 1.7%.

China edged up 0.02%, while falling 0.64%. A historic rally in U.S.-traded Chinese stocks slowed as investors waited for the government to follow up on its pledge to stabilize the market.

Ceasefire talks to resolve the conflict over Russia’s February 24 invasion of Ukraine were also on investors’ radar. However, Russia has expressed doubts about the progress of the talks, and the Pentagon has warned that Russian President Vladimir Putin could threaten the use of nuclear weapons if the conflict continues.

Global stock markets have rallied in recent days and are on track for their best week since November 2020. That suggests some of the worst fears about a commodity inflation shock and the conflict in Ukraine are easing.

However, the ongoing struggle and tightening of Fed monetary policy could mean more cross-asset volatility ahead.

“I don’t necessarily think the rest of the year will be that easy,” Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets LLC, told Bloomberg.

“Volatility is likely to remain elevated for quite some time,” even as sentiment indicators “have been a screaming buy in some respects for quite some time.”

Later in the day, he will discuss the situation in Ukraine with Chinese President Xi Jinping. U.S. Secretary of State Anthony Blinken said Biden would warn of “costs” if China backs Russia.

The U.S. House of Representatives voted to end Russia’s most-favored-nation status, leading to a sharp increase in tariffs on Russian goods. S&P Global (NYSE: ) Ratings also downgraded Russia’s credit score to CC, saying its debt is “extremely vulnerable to defaults.”

However, JPMorgan Chase & Co. handled the funding of interest maturing on Russian government dollar bonds, which eased fears of a default.

US data showed building permits stood at 1.859 million, after contracting 1.9% in February. The number of reads was 1.769 million, an increase of 6.8%.

The data also showed that industrial production increased by 7.45% and 0.5% respectively. This supports the view of U.S. Federal Chairman Jerome Powell that the economy can withstand monetary tightening.

Investors are now gearing up for a quarterly three witch event later in the day, with roughly $3.5 trillion in single-stock and index-level options due to expire, according to Goldman Sachs Group Inc.

Disclaimer: Fusion Media reminds you that the data contained on this website is not necessarily real-time or accurate. All CFD (Shares, Indices, Futures) and Forex prices are not provided by exchanges, but by market makers, so prices may not be accurate and may differ from actual market prices, which means prices are indicative, Not suitable for trading purposes. Therefore, Fusion Media is not responsible for any transaction losses you may incur as a result of your use of these data.

Neither Fusion Media nor anyone associated with Fusion Media shall be liable for any loss or damage arising from reliance on information such as data, quotes, charts and buy and sell signals contained on this website. Please fully understand the risks and costs associated with trading in financial markets, which is one of the riskiest forms of investing.

You may also like

Leave a Comment

Our Mission is to help you make better trading decisions by providing actionable investing content, comprehensive tools, educational resources and assist you in making more money in the stock market.

Latest News

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

@2022 – All Right Reserved. Designed and Developed by WOOW Invest

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy