Asian stock markets are mixed

Asian markets cautious

Asian stock markets are having a mixed session, trading mostly on the weaker side after a volatile Friday session saw Wall Street gnomes end the day almost unchanged, having unwound nasty intraday losses. The S&P 500 ended down 0.01%, the Nasdaq lost 0.30% and the Dow Jones rose just 0.03%.

For some reason, US index futures are rallying impressively today, perhaps in a delayed reaction to Friday’s easing in long-term yields, or just another act of recklessness following the leader that we have seen throughout the last week. S&P 500 futures rose 0.85%, Nasdaq futures jumped 1.05% and Dow futures climbed 0.55%.

Asia, however, is not taking the bait, with most regional markets trading smoothly after Beijing tightened virus restrictions in parts of the city, and Shanghai’s Jingan district shut down stores. stores and told residents to stay home. Japan’s Nikkei 225, still a slave to Nasdaq moves, posted a reluctant 0.63% gain today, but South Korea’s Kospi was unchanged, while Taipei rose 0.38% with Bangkok climbing 0. .40%.

Otherwise, it’s a sea of ​​red. Mainland China’s Shanghai Compositae fell 0.50%, while the CSI 300 fell 1.05%. Hong Kong’s Hang Seng fell 1.90%, with Singapore down 0.50%, Kuala Lumpur unchanged, Jakarta down 0.60% and Manila down 0.40%. Australian markets also quickly unwound the post-election rebound this morning, with the All Ordinaries now unchanged, while the ASX 200 plunged into the red, down 0.10%.

With no positive developments around the situation in Ukraine over the weekend, and everyone important probably reducing their carbon footprint in Davos anyway, negative price action in Asia should see European markets start the day weaker. A slight German IFO investigation could darken the mood. US markets remain a full flurry of mind-boggling intraday sentiment swings.

This article is for general information purposes only. It is not investment advice or a solution for buying or selling securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for everyone. You could lose all your deposited funds.

With over 30 years of experience in the foreign exchange market – from spot/margin trading and NDFs to currency options and futures – Jeffrey Halley is OANDA’s Senior Market Analyst for Asia -Pacific, responsible for providing timely and relevant macroeconomic analysis covering a wide range of asset classes. He has previously worked with leading institutions such as Saxo Capital Markets, DynexCorp Currency Portfolio Management, IG, IFX, Fimat Internationale Banque, HSBC and Barclays. A highly sought-after analyst, Jeffrey has appeared on a wide range of global news channels including Bloomberg, BBC, Reuters, CNBC, MSN, Sky TV, Channel News Asia, as well as prominent print publications including the New York Times and The Wall. Street newspaper, among others. He was born in New Zealand and holds an MBA from Cass Business School.

Jeffrey Halley
Jeffrey Halley

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