TOKYO – Asian stocks fell mainly on Thursday due to caution over corporate earnings reports, the recent negative exchange of technology stocks and the prospect of more economic stimulus for a pandemic-fighting world.
The Japanese Nikkei 225 NIK,
fell 0.5% in early business, while South Korean Kospi 180721,
fell 1.6%. S & P / ASX 200 XJO from Australia,
fell 0.6%. Hang Seng HSI of Hong Kong,
lost 1.2%, while the Shanghai Composite SHCOMP,
fell 1%. Shares rose in Indonesia JAKIDX,
and Malaysia FBMKLCI,
but it fell in Singapore ITS,
in Taiwan Y9999,
Also on the minds of market players is the global vaccine launch, which is increasingly being organized in the United States but has not yet been developed in much of Asia, except in China, where it began. pandemic.
“As the concentration has slowed for the US market, Asian markets may be left at their disposal during Thursday’s session and it looks like investors may be blocking some of the recent gains,” Jingyi Pan said. IG in Singapore.
Wall Street ended with modest gains, with the S&P 500 SPX,
it rose 3.86 points, or 0.1%, to 3,830.17, after oscillating between a 0.6% gain and a 0.3% loss. The small gain extended the benchmark winning streak to a third day.
The Dow Jones Industrial Average DJIA,
gained 36.12 points, or 0.1%, to 30,723.60. The NASdaq COMP
fell 2.23 points, or less than 0.1%, to 13,610.54. The index had been briefly above last week’s all-time high.
Energy, communications and financial stocks helped lift the market. These gains remained mainly controlled by declining firms that depend on consumer spending and technology stocks.
GameStop and other high-flying stocks recently made modest gains on Wednesday. GameStop GME,
increased by 2.7% and AMC AMC,
rose 14.7%. The shares have been caught in a speculative frenzy by online forum traders who want to cause damage to Wall Street hedge funds that have opted for the stock to fall. GameStop fell 60% on Tuesday and AMC Entertainment lost 41.2%.
“There’s been a tug-of-war that’s been going on for a week or so, that the markets are ready for a correction and whether last week’s events are a precipitous fact,” said Jamie Cox, managing partner of Harris Financial Group.
Stocks have mostly concentrated this week, an encouraging start in February after a fading in late January as volatility rose amid worries about time and the scope of another round of stimulus spending by the Biden administration, dissatisfaction with the effectiveness of the government’s distribution of the coronavirus vaccine and turbulent changes to GameStop and other advertising actions on social media.
That volatility has slowed this week, with Wall Street focused primarily on corporate earnings reports, while keeping an eye on Washington for signs of progress on a new aid package.
Democrats and Republicans are still a long way from supporting President Joe Biden’s $ 1.9 trillion stimulus package, but investors are betting that the administration will opt for a reconciliation process to get legislation through Congress.
In the energy trade, the US crude oil reference CLH21,
gained 15 cents to 55.84% a barrel. Brent cru BRNJ21,
the international standard, added 6 cents to $ 58.52 a barrel.
In foreign exchange trading, the US dollar USDJPY,
fell to 105.02 Japanese yen from 105.06 yen.