Asian shares were trading higher Monday amid optimism over the rally that ended the week on Wall Street, although eyes were on the Federal Reserve policy meeting set for later this week.
Stephen Innes, managing partner at SPI Asset Management, said the market mood was positive after last week’s Wall Street tech-driven rally. The yen reached a new 34-year low after the Bank of Japan’s decision to keep interest rates unchanged Friday. That was in line with expectations, but what was unexpected was the central bank’s apparent lack of significant concern about the exchange rate, Innes added.
But a weak currency can hurt the economy in the long run because it reduces purchasing power and possible wage growth. Japan imports almost all its energy.
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:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today (April 23, 2024): Asian stocks track Wall Street gains ahead of earnings reportsHONG KONG — Asian benchmarks extended gains Tuesday after U.S. stocks clawed back a chunk of their losses from last week, which was the worst for the S&P 500 in more than a year, while the yen weakened further to fresh 34-year lows. U.S.
Source: BusinessMirror - 🏆 19. / 59 Read more »
Stock market today (April 25, 2024): Asian benchmarks mostly slide as investors focus on earnings📈🌏 Stock markets in Asia saw declines as investors eagerly anticipate global earnings updates, particularly from tech giants dubbed the 'Magnificent Seven.' The Bank of Japan's monetary policy meeting is also in focus. Will the strong earnings season restore market confidence? Know more about the market trends and upcoming reports.
Source: BusinessMirror - 🏆 19. / 59 Read more »
Asian stocks sink despite to track Wall St gains, earnings in focusAsian markets fell Friday as traders struggled to build on Wall Street's positive lead, with hopes for a June interest rate cut fading, while earnings season gets underway in the United States amid optimism for companies' profit outlooks.
Source: PhilstarNews - 🏆 1. / 94 Read more »
Stock market today: Asian shares gain despite Wall Street’s tech-led retreat | Elaine Kurtenbach / The Associated Press📈 Stock Market Update 📉: Asian shares rose despite Wall Street's tech-led dip. The Nikkei 225 climbed 0.3%, Hang Seng gained 1.5%, and Kospi surged 1.8%. Oil prices edged up as Treasury yields eased. KnowMore about today's market movements and what they mean for investors.
Source: BusinessMirror - 🏆 19. / 59 Read more »
Stock market today: Asian shares track Wall Street slump triggered by strong US spending data | Elaine Kurtenbach / AP Business WriterAsian shares skidded Tuesday following a slump on Wall Street after higher yields in the U.S. bond market cranked up pressure on stocks. The Shanghai Composite index lost 1.7% to 3,007.07 even though the Chinese government reported that the economy grew at a surprisingly fast 5.
Source: BusinessMirror - 🏆 19. / 59 Read more »