Mixed Performance in Asian Stock Markets Ahead of Market-Moving Reports

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Asia,Stock Markets,U.S. Stock Indexes

Shares in Asian stock markets were mixed as U.S. stock indexes remained stagnant before the release of important reports. Hong Kong's Hang Seng gained 1.7% while the Shanghai Composite index lost 0.8% after Fitch Ratings lowered China's public finances outlook. Tokyo's Nikkei 225 dropped 0.5% and the S&P/ASX 200 in Sydney increased by 0.3%. The S&P 500 and Nasdaq composite had slight gains.

A cyclist moves past an electronic stock board showing Japan's Nikkei 225 index at a securities firm Wednesday, April 10, 2024 in Tokyo. – Shares were mixed Wednesday in Asia after U.S. stock indexes held at a near standstill ahead of some potentially market-moving reports.

While a jump in oil prices this year has raised worries about a feedthrough into inflation, oil would likely need to rise “well above levels seen even in the peak Russia-Ukraine commodity price spike for a meaningful impact on core inflation,” the Bank of America strategists said in a BofA Global Research report.

On Wall Street, Apple helped nudge the S&P 500 higher by rising 0.7%. It trimmed it loss for the year to a shade below 12%.

 

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