{"id":43542,"date":"2023-10-20T15:39:10","date_gmt":"2023-10-20T15:39:10","guid":{"rendered":"https:\/\/cabanesetcompagnie.com\/?p=43542"},"modified":"2023-10-20T15:39:10","modified_gmt":"2023-10-20T15:39:10","slug":"asian-markets-trading-mostly-lower","status":"publish","type":"post","link":"https:\/\/cabanesetcompagnie.com\/business\/asian-markets-trading-mostly-lower\/","title":{"rendered":"Asian Markets Trading Mostly Lower"},"content":{"rendered":"

Reflecting the mostly negative cues from global markets<\/span> on Friday, Asian stock markets are trading in the red on Monday, as traders remain cautious on renewed concerns about the outlook for interest rates after US data showed hotter-than-expected consumer price inflation and a slump in consumer sentiment. They also kept an eye on developments in the conflict in the Middle East between Israel and Hamas. Asian markets closed mostly lower on Friday.<\/p>\n

The Australian stock market is modestly lower on Monday, extending the losses in the previous session, with the benchmark S&P\/ASX 200 falling to near the 7,000 mark, following the mostly negative cues from global markets on Friday, with losses in financial and technology<\/span> stocks partially offset by gains in gold miners and energy stocks.<\/p>\n

The benchmark S&P\/ASX 200 Index is losing 24.80 points or 0.35 percent to the day’s low of 7,026.20. The broader All Ordinaries Index is down 30.20 points or 0.42 percent to 7,213.30. Australian stocks closed notably lower on Friday.<\/p>\n

Among the major miners, Rio Tinto is gaining almost 1 percent and BHP Group is edging up 0.2 percent, while Fortescue Metals is edging down 0.2 percent and Mineral Resources is losing almost 1 percent.<\/p>\n

Oil stocks are mostly higher. Woodside Energy and Santos are gaining almost 1 percent each, while Origin Energy is edging up 0.3 percent and Beach energy is adding almost 2 percent.<\/p>\n

Among tech stocks, Afterpay owner Block is losing more than 4 percent and Appen is declining almost 4 percent, while WiseTech Global Zip and Xero are down almost 3 percent each.<\/p>\n

Gold miners are mostly higher. Gold Road Resources, Newcrest Mining and Northern Star Resources are gaining almost 5 percent each, while Evolution Mining is adding more than 3 percent and Resolute Mining is advancing more than 4 percent.<\/p>\n

Among the big four banks, Commonwealth Bank, National Australia Bank and ANZ Banking are edging down 0.3 to 0.5 percent each, while Westpac is losing almost 1 percent.<\/p>\n

In the currency market, the Aussie dollar is trading at $0.632 on Monday.<\/p>\n

Declining for the second straight session, the Japanese stock market is sharply lower on Monday, mirroring the mostly negative cues from global markets on Friday. The Nikkei 225 is falling below the 31,800 level, with weakness across most sectors led by exporters and technology stocks.<\/p>\n

The benchmark Nikkei 225 Index closed the morning session at 31,786.78, down 529.21 or 1.64 percent, after hitting a low of 31,671.11 earlier. Japanese shares ended notably lower on Friday.<\/p>\n

Market heavyweight SoftBank Group is losing almost 2 percent and Uniqlo operator Fast Retailing is down almost 1 percent. Among automakers, Honda and Toyota are losing more than 1 percent each.<\/p>\n

In the tech space, Screen Holdings is plunging 4.5 percent, Advantest is declining almost 5 percent and Tokyo Electron is declining more than 3 percent.<\/p>\n

In the banking sector, Sumitomo Mitsui Financial is edging down 0.4 percent and Mizuho Financial is losing almost 1 percent, while Mitsubishi UFJ Financial is edging up 0.2 percent.<\/p>\n

The major exporters are mostly lower. Sony is declining more than 2 percent, Panasonic is slipping almost 3 percent and Mitsubishi Electric is losing almost 1 percent, while Canon is gaining almost 1 percent.<\/p>\n

Among other major losers, Mercari is plunging more than 5 percent, while Odakyu Electric Railway and Keio are losing more than 4 percent each. M3, Yaskawa Electric, Ebara and Keisei Electric Railway are down almost 4 percent each, while Tokyu Fudosan, Fuji Electric and Amada are declining more than 3 percent each. SMC and Astellas Pharma are slipping almost 3 percent each.<\/p>\n

Conversely, Inpex is gaining almost 3 percent.<\/p>\n

In the currency market, the U.S. dollar is trading in the mid-149 yen-range on Monday.<\/p>\n

Elsewhere in Asia, New Zealand, China, Hong Kong, South Korea, Singapore, Malaysia and Taiwan are lower by between 0.3 and 1.0 percent each. Indonesia is relatively flat.<\/p>\n

On Wall Street, stocks moved mostly lower over the course of the trading on day on Friday, extending the pullback seen during Thursday’s session. The tech-heavy Nasdaq showed a steep drop on the day, while the Dow managed to close modestly higher.<\/p>\n

The Nasdaq tumbled 166.98 points or 1.2 percent to 13,407.23 and the S&P 500 slid 21.83 points or 0.5 percent to 4,327.78. Meanwhile, the narrower Dow inched up 39.15 points or 0.1 percent to 33,670.29.<\/p>\n

The major European markets have also moved to the downside on the day. While the U.K.’s FTSE 100 Index fell by 0.6 percent, the French CAC 40 Index and the German DAX Index tumbled by 1.4 percent and 1.6 percent, respectively.<\/p>\n

Crude oil prices rose sharply on Friday amid rising concerns about the potential impact on global crude supplies due to the ongoing conflict between Israel and Hamas. West Texas Intermediate Crude oil futures for November spiked $4.78 or 5.8 percent at $87.69 a barrel. WTI crude futures gained 6 percent in the week. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Reflecting the mostly negative cues from global markets on Friday, Asian stock markets are trading in the red on Monday, as traders remain cautious on renewed concerns about the outlook for interest rates after US data showed hotter-than-expected consumer price inflation and a slump in consumer sentiment. They also kept an eye on developments in the conflict in the Middle […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"yoast_head":"\nAsian Markets Trading Mostly Lower - cabanesetcompagnie<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cabanesetcompagnie.com\/business\/asian-markets-trading-mostly-lower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asian Markets Trading Mostly Lower - cabanesetcompagnie\" \/>\n<meta property=\"og:description\" content=\"Reflecting the mostly negative cues from global markets on Friday, Asian stock markets are trading in the red on Monday, as traders remain cautious on renewed concerns about the outlook for interest rates after US data showed hotter-than-expected consumer price inflation and a slump in consumer sentiment. 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