Stock market today: Asian shares shrug off Wall St blues as China leaves lending rate unchanged

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Financial Markets,General News,COVID-19 Pandemic

Markets in Asia apart from Shanghai’s are broadly higher, shrugging off the blues on Wall Street after big technology stocks logged their worst week since the COVID crash in 2020. Oil prices fell while U.S. futures advanced. Shares fell in Shanghai after China's central bank left its 1 and 5-year lending rates unchanged.

A person walks in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Monday, April 22, 2024, in Tokyo. A person stands in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Monday, April 22, 2024, in Tokyo. A person walks in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Monday, April 22, 2024, in Tokyo.

The Dow Jones Industrial Average rose 0.6% to 37,986.40, and the Nasdaq composite fell 2% to 15,282.01. The larger threat was a dawning, dispiriting acknowledgement sweeping Wall Street that interest rates may likely stay high for longer.for a while. That’s a letdown for traders after the Fed had signaled earlier that three cuts to interest rates could be possible this year.

 

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