Updated November 28, 2022 9:53 PM ET
TOKYO’s Asian stocks were mostly higher on Tuesday as market jitters eased over protests in China sparked by growing public anger over COVID-19 restrictions.
Benchmarks rose in early trading in Australia, South Korea and China, while stocks fell in Japan. Oil prices have fallen.
Japanese government data released on Tuesday showed the unemployment rate for October was unchanged from September at 2.6%. Separately, data released by another ministry showed a slight increase in the number of jobs available per job seeker to 1.35. The increase continued for 10 months.
Hiring has increased in anticipation of the mass return of tourists to Japan. Borders that were essentially closed during the coronavirus pandemic have reopened at a time when the fall in the value of the yen against the US dollar and other currencies makes Japan an attractive destination for tourists.
The Japanese Nikkei 225 was down 0.5% in early trading at 28,016.27. Australia’s S&P/ASX 200 rose nearly 0.1% to 7,233.50. South Korea’s Kospi added 0.3% to 2,415.76. Hong Kong’s Hang Seng added 1.8% to 17,612.65, while the Shanghai Composite added 0.6% to 3,096.54.
Although market sentiment has been weighed down by recent protests in China, some analysts have noted that calm may return in the coming sessions. The world’s second-largest economy has been stifled by a “zero COVID” policy that includes lockdowns that continually threaten the global supply chain.
“The absence of any clear escalation in protests could help calm markets,” said Yeap Jun Rong, market strategist at IG.
The unrest has fueled concerns on Wall Street that if Chinese leader Xi Jinping further cracks down on dissidents there or expands lockdowns, it could slow China’s economy, hurting oil prices and global economic growth. , said Sam Stovall, chief investment strategist at CFRA.
“A lot of people worry about what the fallout will be, and basically use that as an excuse to take recent profits,” he said.
More than 90% of S&P 500 stocks closed in the red, with technology companies holding the largest weights in the broader market. Apple, which has seen iPhone production hit hard by lockdowns in China, fell 2.6%.
Banks and industrial stocks were also among the biggest drags on the market. JPMorgan fell 1.7% and Boeing 3.7%.
Several casino operators gained ground as the Chinese gambling paradise of Macau tentatively renewed their licenses. Las Vegas Sands rose 1.1% and Wynn Resorts gained 4.4%.
The fallout from the collapse of crypto exchange FTX continued. Cryptocurrency lender BlockFi is filing for Chapter 11 bankruptcy protection. Cryptocurrency exchange Coinbase Global fell 4% and the price of Bitcoin fell 2.1%.
The S&P 500 fell 62.18 points, or 1.5%, to 3,963.94. The Dow Jones lost 497.57 points, or 1.4%, to 33,849.46. The tech-heavy Nasdaq fell 176.86 points, or 1.6%, to close at 11,049.50.
Wall Street is coming off a shortened holiday week that was relatively light on business news and economic data. Investors have a busier week ahead as they continue to watch the highest inflation in decades and its impact on consumers, businesses and monetary policy.
Concern remains high about the Federal Reserve’s ability to control inflation by raising interest rates without going too far and triggering a recession. The central bank’s benchmark rate is currently between 3.75% and 4%, down from near zero in March. He warned he may eventually have to raise rates to previously unanticipated levels to rein in high prices for everything from food to clothing.
Federal Reserve Chairman Jerome Powell will speak at the Brookings Institution on Wednesday on the outlook for the US economy and labor market.
The Conference Board will release its consumer confidence index for November on Tuesday. This could shed more light on how consumers have weathered the high prices and how they plan to spend during the holiday shopping season and into 2023.
The government will release several labor market reports this week that could give Wall Street better insight into one of the economy’s strongest sectors. A job postings and labor turnover report for October will be released on Wednesday, followed by a weekly jobless claims report on Thursday. The highly watched monthly labor market report will be released on Friday.
In energy trading, benchmark U.S. crude fell 17 cents to $77.07 a barrel. Brent crude, the international standard, fell 5 cents to $83.14 a barrel.
In currency trading, the US dollar fell to 138.77 yen from 138.90 yen. The Euro traded at $1.0358, down from $1.0344 previously.
Editor’s Note: This story has been updated with the latest copy and headline from AP Markets.
Copyright 2022 NPR. To learn more, visit https://www.npr.org.
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
- Ilia Malinin wins 1st U.S. men’s skating title, Brown 2nd
- Star Wars actor connects with fans in Lawton
- China’s Baidu Plans to Launch ChatGPT-Style Bot in March – Source
- A 6.3-magnitude earthquake strikes parts of the Pakistani capital, Islamabad
- With increasing daily intrusions, China’s invasion of Taiwan is now a matter of when, not if: OPED
- Arizona Republicans pick former Trump aide Jeff DeWit to lead state party in landslide vote
- Follow India vs New Zealand 3rd T20 LIVE
- Not just Bollywood | interview with director Vasan Bala on the evolution of cinema
- He is the greatest tennis player to match Djokovic with Rafael Nadal’s 22 grand slam titles
- Shanghai shows resilience after long holiday, S&P500 futures fall and oil pulls back
- Imran Khan will run for 33 seats in the by-election of the National Assembly of Pakistan | world news
- Princess Diana’s dress sells for over $600,000 at auction – NBC10 Philadelphia