Asia-Pacific markets mixed after closing the previous week with a big rally

Posted on November 14, 2022Comments Off on Asia-Pacific markets mixed after closing the previous week with a big rally

Japan -1.06%. China -0.07%. Hong Kong +1.56%. Australia -0.16%. India -0.23%. Shares in the region ended higher last week after U.S. consumer prices rose less than expected and China announced some easing of its Covid measures. Later this week, Japan is slated to report figures for gross domestic product, trade and consumer inflation, while Indonesia’s central bank holds a monetary policy meeting. New Zealand services PMI (October) to 57.4 (prior 55.9). Oil prices rose nearly 1% on Monday, extending gains from the previous session as China eased some of its strict Covid-19 protocols, fueling hopes of a recovery in economic activity and demand at the world’s top crude importer. Brent crude futures rose 87 cents, or 0.9%, to $96.86 a barrel by 0041 GMT after settling up 1.1% on Friday. U.S. West Texas Intermediate crude futures were at $89.76 a barrel, up 80 cents, or 0.9%, after closing Friday’s session 2.9% higher. Gold prices slightly retreated on Monday from a three-month peak hit in the previous session, as the dollar and U.S. bond yields rose after a top U.S. central banker warned that the Federal Reserve is not “softening” fight against inflation yet. Spot gold was 0.5% down at $1,762.70 per ounce, as of 0054 GMT, after hitting its highest since Aug. 18 on Friday. U.S. gold futures eased 0.2% to $1,766. Spot silver fell 0.5% at $21.57 per ounce. Platinum eased 0.2% to $1,026.20 and palladium was steady at $2,037.60. U.S. futures higher. Dow Jones +0.46%; S&P 500 +0.48%; Nasdaq +0.68%.

Source link

Comments Off on Asia-Pacific markets mixed after closing the previous week with a big rally