News Formal

Stock market today: Asian benchmarks are mixed as Tokyo sips on strong yen

  • 📰 AP
  • ⏱ Reading Time:
  • 44 sec. here
  • 17 min. at publisher
  • 📊 Quality Score:
  • News: 73%
  • Publisher: 51%

Financial Markets News

Tokyo,Japan,General News

Japan’s index has plunged, as the U.S. dollar sank against the yen, and regional investors digested the rally on Wall Street that came on hopes U.S. cuts to interest rates will be arriving soon. A strong yen is a plus for Japan’s purchases but hurts the nation’s giant exporters like Toyota by eroding the value of overseas profits.

A television screen on the floor of the New York Stock Exchange, shows the Federal Reserve rate decision, Wednesday, July 31, 2024.A bank of television screens on the floor of the New York Stock Exchange, shows Federal Reserve Chairman Jerome Powell, Wednesday, July 31, 2024.A pair of traders work at the post of specialist James Denaro, right, on the floor of the New York Stock Exchange, Wednesday, July 31, 2024.

Japan’s benchmark Nikkei 225 dipped 2.5% to 38,126.33. Australia’s S&P/ASX 200 edged up 0.3% to 8,114.70. South Korea’s Kospi rose 0.3% to 2,777.68. Hong Kong’s Hang Seng slipped less than 0.1% to 17,340.31, while the Shanghai Composite lost 0.2% to2,933.81. “We think that the time is approaching,” Powell said. “And if we do get the data that we hope we get, then a reduction in our policy rate could be on the table at the September meeting.”

Such criticism hasn’t gone away, and Microsoft fell 1.1% despite reporting profit and revenue for the latest quarter thatStronger-than-expected profit reports from companies outside the Magnificent Seven also helped lift the market. They helped offset a 3% drop for Altria Group after the maker of cigarettes and smoke-free products fell short of expectations for profit and revenue in its latest quarter.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 728. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Asian stocks are higher as Bank of Japan raises benchmark rateAsian stocks were higher Wednesday following a decision by the Bank of Japan to raise its benchmark interest rate. Policy decisions were due later in the
Source: Mynorthwest - 🏆 438. / 53 Read more »

Stock market today: Asian stocks are higher as Bank of Japan raises benchmark rateAsian stocks are higher following a decision by the Bank of Japan to raise its benchmark interest rate.
Source: wjxt4 - 🏆 246. / 63 Read more »

Stock market today: Asian stocks are higher as Bank of Japan raises benchmark rateAsian stocks are higher following a decision by the Bank of Japan to raise its benchmark interest rate.
Source: ksatnews - 🏆 442. / 53 Read more »

Stock market today: Asian shares mostly fall ahead of central bank meetingsAsian shares have mostly fallen in cautious trading ahead of central bank meetings around the world.
Source: wjxt4 - 🏆 246. / 63 Read more »

Stock market today: Asian shares mostly fall ahead of central bank meetingsAsian shares have mostly fallen in cautious trading ahead of central bank meetings around the world.
Source: ksatnews - 🏆 442. / 53 Read more »

Stock market today: Asian stocks track Wall Street gains ahead of central bank meetingsAsian stocks started the week with gains ahead of central bank policy meetings in the United States and Japan, after a broad rally on Wall Street that capped a tumultuous week. Japan's Nikkei 225 index jumped 2.1%. U.S. futures and oil prices rose. On Friday, the S&P 500 rose 1.1% for its best day in seven weeks.
Source: AP - 🏆 728. / 51 Read more »