- October 24, 2022
- By: Admin1_blog
- Asia Market, Indices
Abigail Ng
Shares in the Asia-Pacific were mixed Monday after U.S. stocks soared on Friday following a Wall Street Journal report that some Fed officials are concerned about tightening policy too much.
Hong Kong’s Hang Seng index fell more than 2% in early trade, with the Hang Seng Tech index down more than 3%.
The Shanghai Composite in mainland China slipped 0.29% and the Shenzhen Component
lost 0.254%.
In Australia, the S&P/ASX 200 was 1.73% higher. The Kospi in South Korea gained 1.39%, and the Kosdaq added 2.28%.
Japan’s Nikkei 225 climbed 1.17% and the Topix was up 0.88%. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat.
Authorities in Japan reportedly intervened in the forex market on Friday, causing the yen
to strengthen sharply. But the currency continued to seesaw. On Monday in Asia, the currency briefly strengthened to 145-levels but was last at 148.82 per dollar.
Japanese yen’s wild ride
End of interactive chart.
On Friday in the U.S., the Dow Jones Industrial Average jumped 748.97 points, or 2.47%, to close at 31,082.56. The S&P 500 added 2.37% to 3,752.75. The Nasdaq Composite climbed 2.31% to 10,859.72.
The Communist Party of China’s 20th National Congress closed over the weekend, with President Xi Jinping’s loyalists tapped to form a core leadership group.
Singapore, Malaysia and India’s markets are closed for a holiday Monday. Later this week, the Bank of Japan will meet, while Singapore and Australia are expected to release inflation data.
| TICKER | COMPANY | NAME | PRICE | CHANGE | %CHANGE |
|---|---|---|---|---|---|
| .N225 | Nikkei 225 Index | *NIKKEI | 27182 | 291.42 | 1.08 |
| .HSI | Hang Seng Index | *HSI | 15894.75 | -316.37 | -1.95 |
| .AXJO | S&P/ASX 200 | *ASX 200 | 6791.6 | 114.8 | 1.72 |
| .SSEC | Shanghai | *SHANGHAI | 3034.75 | -4.18 | -0.14 |
| .KS11 | KOSPI Index | *KOSPI | 2240.63 | 27.51 | 1.24 |
| .FTFCNBCA | CNBC 100 ASIA IDX | *CNBC 100 | 6794.98 | 68.08 | 1.01 |
CNBC Pro: From copper to cybersecurity, Goldman Sachs picks less obvious stocks to play the clean energy trend
Goldman Sachs has identified four “critical” sectors in the clean energy market, beyond the usual suspects.
Dubbing them “greenablers,” Goldman says they are less appreciated by ESG investors but could be “in the framework of investors potentially looking beyond Solar/Wind/Water stocks.”
It names buy-rated stocks to play these four sectors.
— Weizhen Tan
Early trade: Where Asia-Pacific markets started the day
Japan’s Nikkei 225 climbed 1.14% in early trade and the Topix was up 0.82%.
The Kospi in South Korea gained 1.46%, and the Kosdaq added 2.05%.
In Australia, the S&P/ASX 200 was 2% higher in its second hour of trade.
MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.7% higher.
— Abigail Ng
Big tech earnings reports coming up this week
A slew of big tech names report third quarter earnings this week. Because of the size of many of these companies’ market capitalizations, any moves after earnings will likely impact the entire market.
Alphabet and Microsoft report earnings on Tuesday, followed by Meta Platforms on Wednesday. Apple and Amazon will report Friday.
—Carmen Reinicke
Source : CNBC
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