Stock market today: Asian shares trade mixed as investors look ahead to economic data

📆 31.10.2023 9:30:00
📰 AP

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Asian shares are trading mixed as investors look ahead to a week that could see more swings in financial markets, including key reports on U.S. consumer confidence and the job market. On Tuesday, shares fell in Seoul, Hong Kong and Shanghai, while gaining in Tokyo and Sydney.

A currency trader passes by the screens showing the Korea Composite Stock Price Index , center, and the foreign exchange rate between U.S. dollar and South Korean won, right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, Oct. 31, 2023. Asian shares were trading mostly lower Wednesday as investors looked ahead to a week that could see more swings in financial markets, including key reports on U.S. consumer confidence and the job market.

“The Bank judges that it is appropriate to increase the flexibility in the conduct of yield curve control so that long-term interest rates will be formed smoothly in financial markets in response to future developments,” the Bank of Japan said in a statement.Biden’s Cabinet secretaries will push a divided Congress to send aid to Israel and UkraineAt the end of its two-day policy meeting, the Bank of Japan maintained its monetary policy that takes a different track from the U.S.

The Dow Jones Industrial Average rose 511.37, or 1.6%, to 32,928.96 points. The Nasdaq composite rose 146.47, or 1.2%, to 12,789.48. The second big factor dragging on the stock market since its high point for the year on July 31 has been a. When bonds are paying higher yields, investors have less appetite for pricey stocks and other investments. They also make borrowing more expensive for everyone from huge corporations to home buyers, which puts the brakes on the economy.

On Wednesday will come the latest monthly update on the number of job openings across the country. One way the Fed could pull off the delicate balancing act of slowing the economy without creating a recession would be if the number of job openings cools without requiring waves of layoffs.

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Stock market today: Asian shares slip after S&P 500 slips ahead of Fed interest rate decisionAsian shares are mostly lower ahead of a Federal Reserve decision this week on interest rates. U.S. futures gained while oil prices fell more than $1 a barrel. On Friday, stocks stumbled on Wall Street. The S&P 500 fell 0.5% and is now in what's called a correction, down 10% from the peak for this year that it hit in July. The Dow fell 1.
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