News Formal

Asian benchmarks mostly decline as markets await Nvidia earnings

  • 📰 AP
  • ⏱ Reading Time:
  • 51 sec. here
  • 16 min. at publisher
  • 📊 Quality Score:
  • News: 73%
  • Publisher: 51%

Financial Markets News

Earnings,Auto Industry,General News

Asian shares are trading mostly lower, despite a record high on Wall Street, as investors awaited a closely watched earnings report from Nvidia. Benchmarks fell in Tokyo, Sydney, Seoul, Hong Kong and Shanghai in Wednesday morning trading.

A currency trader stretches while working near a screen showing the Korea Composite Stock Price Index at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 28, 2024. Currency traders work near a screen showing the Korea Composite Stock Price Index , top left, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Aug. 28, 2024.

Australia’s S&P/ASX 200 lost 0.6% to 8,024.70. Australia’s headline index of inflation for July fell less than expected, down 3.5% from the previous year.Hong Kong’s Hang Seng, which has been rising steadily in recent sessions, dipped 0.8% to 17,735.39. Analysts believe the higher-than-expected China’s industrial profits reported this week isn’t great enough to maintain the optimism. The Shanghai Composite dipped 0.3% to 2,839.34.

Also high on investors’ watch is the expectation for the Federal Reserve to cut its main interest rate at its next meeting in September. Investors are looking ahead to Friday, when the U.S. government releases its latest data on inflation with the PCE, or personal consumption and expenditures report, for July.

In a bit of positive news, the Conference Board, a business research group, said its U.S. consumer confidence index rose to 103.3 in August from 101.9 in July. Consumer spending accounts for nearly 70% of U.S. economic activity.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 728. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock futures are little changed as Wall Street looks toward Nvidia earnings: Live updatesStocks rose modestly on Tuesday, with Nvidia giving the S&P 500 and Nasdaq Composite a boost.
Source: nbcchicago - 🏆 545. / 51 Read more »

Asian stocks mixed after Wall Street rallies as 'time has come' for rate cutsAsian stocks are mixed after U.S. stocks rallied close to their records on the expectation the Federal Reserve will start cutting interest rates soon to help the economy. U.S. futures edged lower. Oil prices rose Monday. On Friday, Fed Chair Jerome Powell said the time had come to lower the main interest rate from a two-decade high.
Source: AP - 🏆 728. / 51 Read more »