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Asian Stocks Dip – Trading Soft with Friday Holidays

by Carl Steward
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Asian Stocks: Panoramic evening view with the digital financial chart.Asian Stocks Dip – Trading Soft with Friday Holidays

Asian stocks fell in silent trade. Markets are closed for Good Friday and other holidays. Benchmarks dropped in Seoul, Tokyo, and Shanghai. Sydney, Manila, Bangkok, and Hong Kong were among the markets that observed the holidays on Friday. European and American markets were also closed. Closing due to the spread of the coronavirus in major Chinese cities and the war in Ukraine has aggravated sentiments.

The inflationary effects of the Russian-Ukrainian conflict are now more significant than direct military events in the market sense. These results have created an uncertain environment that could make investors wary. The head of the International Monetary Fund warned on Thursday that Russia’s war against Ukraine is hampering prospects for most countries. It also reaffirmed the threat of high inflation to the global economy.

The Nikkei 225 stood at 27,093.19 and lost 0.3%. Kospi fell to 2,696.06, for a total of 0.8%. Shanghai Composite lost 0.5% to a total of 3.211.24. The shares closed on Wall Street on Thursday. Investors have received mixed reviews on the profits of the country’s four largest banks. The S&P 500 dropped to 4,392.59, falling 1.2% overall, and ended the trading week with a 2.1% decline.

The Dow lost 0.3% to 34,451.23. The Nasdaq decreased 2.1% to 13,351.08. Small-company stocks have also lost their place. Russell 2000 fell to 2,004.98, a total of 1%. The large bank’s quartet announced a noticeable decline; In terms of their first-quarter win; Because the last revenue season is starting. Unstable markets and the war in Ukraine led to bargaining.

Asian Stocks

Citigroup rose 1.6%. Wells Fargo dropped by 4.5%. Morgan Stanley – up 0.7%, Goldman Sachs – up 0.1%. Bond yields rose again; This brought the 10-year treasury revenue to 2.83%. According to the CFRA chief investment strategist, with higher oil prices and higher bond yields, the market continues to worry about inflation in Ukraine, the Federal Reserve’s responsibility for all of this.

Technology stocks fell on Thursday. It even rewards gains in the market elsewhere. Expensive appraisals for many large technology companies give them more influence over the higher or lower management of the broader market. Microsoft fell 2.7%. Retailers and other firms that rely on customer spending still weigh on the market. Amazon was down 2.5%. Along with the price of crude oil, energy supplies have also increased. Exxon Mobil is up 1.2%.


Investors are still paying attention to the drama surrounding Elon Musk and Twitter. Musk offered to buy a social media company for $54.20 a share, two weeks after it was revealed that he had accumulated 9% of the stock. Musk criticized Twitter for not adhering to the principles of free speech; The regulatory document stated that it should be transformed into a private company. Shares of Twitter fell 1.7% to a total of $45.08. This is relatively low for the price offered by Musk.

Wall Street reviewed mixed economic data earlier in the week; After a few hot inflation reports. The Department of Commerce said retail sales rose 0.5% in March. This has led to higher prices for gasoline as consumers continue to spend despite high inflation.

According to the Department of Labor, the number of people applying for unemployment benefits increased last week; however, it remained historically low. The data reflects a strong U.S. labor market with record high jobs and being fired from several positions. Inflation in the U.S. remains at its highest level for 40 years; Economists and analysts closely monitor how consumers respond to everything at higher prices; Starting with food, clothes, and gasoline.

In energy trading, the U.S. benchmark crude traded up $2.70 on Thursday; The total was $106.95 per barrel. It even closed by almost 11% more per week. The price of Brent crude oil rose to $111.70. Friday markets were closed. The U.S. dollar rose to 126.65 against the Japanese yen in currency trading. This is approaching a maximum of 20 years. The euro depreciated to $1.0815.

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