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Stock market today: Asian shares meander, tracking Wall Street's mixed finish as dollar surges

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Financial Markets Notizia

Inflation,Asia,General News

Shares are mixed in Asia after a lackluster finish on Wall Street following a report showing an uptick in inflation in the U.S. last month. The dollar was trading at 156 Japanese yen. On Wednesday, the S&P 500 ended little changed and the Dow Jones Industrial Average edged up 0.1%. The Nasdaq composite slipped 0.3%.

Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Nov. 14, 2024. A currency trader passes by a screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Nov. 14, 2024.

Japan’s Nikkei 225 index edged less than 0.1% higher, to 38,754.50 and the Kospi in South Korea advanced 0.5% to 2,429.23. Australia’s S&P/ASX 200 gained 0.4% to 8,223.20. “For Asia, particularly those economies closely linked to China, the dollar’s dominance is poised to become an economic wrecking ball,” he said in a commentary. “Countries with hefty USD-denominated debt are bracing for impact,” he added.Home Depot’s Q3 results top Wall Street as pullback in consumer spending eases a bitafter the Nov. 5 Election Day. The Dow Jones Industrial Average added 0.1% to 43,958.19, and the Nasdaq composite slipped 0.3% to 19,230.74.

Those expectations sent the yield for the two-year Treasury down to 4.27% from 4.34% late Tuesday. The yield on the 10-year Treasury, which also takes future economic growth more into account, rose to 4.45%, up from 4.43% late Tuesday.While lower interest rates can give a boost to the economy and to prices for investments, they can also fuel inflation.

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