Monday, April 15, 2024
HomeBusinessAs China's technology shares fall, Asia's stocks decline: Markets wrap (groww us...

As China’s technology shares fall, Asia’s stocks decline: Markets wrap (groww us stocks).

groww us stocks of stricter regulations on the gaming industry and concerns about the inadequacy of government efforts to boost the economy caused Asian stocks to decline, with a selloff in technology shares in Hong Kong leading the decline.

With a decline of up to 3.3%, the “Hang Seng Tech Index” is headed for its lowest closing since November 2022. Gains in Australia and South Korea were also reversed by benchmark stock indexes. For a holiday, the financial markets in Japan are closed. groww us stocks

Early this month, a slew of new regulations from China’s gaming regulator caught investors off guard and caused a widespread selloff in tech. In Hong Kong, the heavy weight Tencent Holdings Ltdhttps://thedailynewszw.com/the-stock-price-of-rvnl-stock-rises-175/?amp=1. saw a 2.4% decline, despite JPMorgan Chase & Co. stating that its current valuation is attractive.

Willer Chen, an analyst at Forsyth Barr Asia, stated that the industry is still vulnerable since investors are still waiting for the final regulation following Beijing’s release of draft gaming regulation rules. Capital is still leaving Hong Kong.

groww us stocks futures saw little movement after the S&P 500 ended the day slightly higher due to reports that job growth exceeded forecasts but the service sector contracted. On Monday, the dollar appreciated versus the majority of its Group-of-10 counterparts, but Treasury 10-year futures marginally declined. Due to the Japanese holiday, there is no cash Treasury trading in Asia.

This week, investors will be closely monitoring China’s inflation data, which could provide a more accurate picture of the outlook for central bank policy. Although China is predicted to report lower deflation, Marc Chandler, chief market strategist at Bannockburn Global, believes that the country’s economy still needs more help and that a reduction in the “benchmark” “one-year Medium Term” Lending Facility later this month is becoming more likely.

groww us stocks

Even though groww us stocks rose on Friday, worldwide stocks dropped last week to their lowest level since October as a flurry of corporate issuance unsettled markets and the Fed signaled it was not in a rush to lower interest rates.

With a two-thirds chance of a decrease in March, swaps traders eventually reformed bets on “roughly 140 basis points” of easing this year after the US jobs report from last week initially dampened expectations for faster and deeper rate cuts from the Fed. On Wall Street, some continued to believe that the central bank could contain the economy and avoid a downturn.

According to a Bloomberg survey, the underlying measure of US inflation is predicted to further decline to 3.8% year-over-year in December from 4% in the previous month in Thursday’s inflation report.

In other news, when Wall Street opens, attention will be focused on Boeing Co. shares. This is because worldwide groundings of the 737 Max 9 aircraft have intensified since a fuselage section on a recently delivered Alaska Airlines jet blew out during flight.

Oil fell in value as a result of Saudi Arabia lowering official selling prices for all regions, highlighting a deteriorating outlook and outweighing worries about supply disruptions in Libya and tensions in the Red Sea.

Important happenings this week: groww us stocks.

Monday’s consumer confidence, retail sales, and economic confidence in the eurozone

Monday’s speech by Atlanta Fed President Raphael Bostic
Monday is the US House’s return from recess.

Tuesday’s retail sales in Australia
Tokyo CPI, household expenditure, Japan, Tuesday
Tuesday’s unemployment rate in the Eurozone
Global risks report from the World Economic Forum published on Wednesday

US wholesale stockpiles, Wednesday
Wednesday is the deadline for the US Securities and Exchange Commission to vote on applications for Bitcoin ETFs.
John Williams, President of the New York Fed, speaks on Wednesday.

Initial jobless claims and US CPI on Thursday
China trade, PPI, and CPI on Friday
France’s CPI on Friday

Industrial production in the UK, Friday
US PPI on Friday

American Bank BlackRock Bank of New York Mellon Wells Fargo, JPMorgan Chase, and Citigroup release their fourth-quarter results on Friday.

President of the Minneapolis Fed Neel Kashkari’s speech on Friday
The S&P 500 futures for stocks had not moved much as of 11:44 a.m. Tokyo time. On Friday, the S&P 500 gained 0.2%.
The Nasdaq 100 futures showed minimal movement. Nasdaq 100 increased by 0.1%.

The Hang Seng Index in Hong Kong dropped 1.8%.
The Shanghai Composite Index of China dropped 0.9%.
The S&P/ASX 200 Index in Australia dropped 0.3%.
Currency

The (Bloomberg Dollar Spot) Index did not significantly change.
The euro was barely moved, trading at $1.0940.

Little changed, the value of the Japanese yen was 144.49 per dollar.

With the offshore yuan at 7.1622 per dollar, not much changed.

The value of the Australian dollar remained relatively unchanged at $0.6716.
1.6% decline in Bitcoin to $43,532.51
Ether dropped $2,196, or 2%.

The 10-year yield on Australian bonds increased by three basis points to 4.16%.

West Texas Intermediate (WTI) crude dropped 0.9% to $73.15 per barrel in commodities.

An ounce of spot gold dropped by 0.1% to $2 043.03.

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