Connect with us

Business

Asia Stocks Fall, Led by China; Treasuries Rally: Markets Wrap

News Agencies

Published

on

(Bloomberg) — A gauge of Asian equities fell amid a subdued tone in markets on Friday after Thanksgiving in the US. Treasuries rose as trading resumed after the holiday.

Most Read from Bloomberg

Hong Kong-listed technology stocks led declines in Chinese shares as investors weighed recent gains against an upswing in Covid-19 infections and lockdown-like restrictions affecting swathes of Beijing.

US stock futures advanced following commentary from Federal Reserve officials that supports the case a slower pace of interest-rate increases. The dollar fluctuated after a three-day losing streak.

Malaysia’s ringgit extended gains as the appointment of a new prime minister cleared the political gridlock that has gripped the nation since recent elections.

The won steadied within sight of this month’s high after the central bank governor said he needs to see strong signs that inflation is under control before discussing any prospect of a pivot away from policy tightening.

Yields on Japan’s benchmark 10-year bond rose to 0.245%, near the top of the central bank’s target band, after Tokyo’s inflation picked up more speed to hit its fastest pace in 40 years. The yen fell slightly.

US markets were closed Thursday and will have a shortened session on Friday.

Oil headed for a third weekly loss as the European Union weighs a higher-than-expected price cap on flows of Russian crude and slowdown concerns threaten the outlook for energy demand.

Gold was little changed but poised for a modest weekly gain.

The outlook for Chinese markets is improving, despite the current flareup in virus cases, according to Jun Bei Liu, a portfolio manager at Tribeca Investment Partners.

“In the next 12 months things will get better. We have seen this playbook before across other economies,” she said on Bloomberg Television. “We’ll begin to see outperformance very soon in the next few quarters.”

Some of the main moves in markets:

Stocks

  • S&P 500 futures rose 0.2% as of 11:34 a.m. in Tokyo.

  • Nasdaq 100 futures rose 0.4%.

  • The Topix Index fell 0.1%

  • The S&P ASX Index rose 0.3%

  • The Hang Seng Index fell 1%

  • The Shanghai Composite Index rose 0.5%

  • Euro Stoxx 50 futures were little changed

Currencies

  • The Bloomberg Dollar Spot Index was little changed

  • The euro was little changed at $1.0411

  • The Japanese yen was little changed at 138.63 per dollar

  • The offshore yuan was little changed at 7.1648 per dollar

Cryptocurrencies

  • Bitcoin fell 0.3% to $16,493.98

  • Ether fell 0.9% to $1,185.33

Bonds

  • The yield on 10-year Treasuries declined three basis points to 3.66%

  • Japan’s 10-year yield was at 0.245%

  • Australia’s 10-year yield advanced four basis points to 3.58%

Commodities

  • West Texas Intermediate crude rose 0.5% to $78.31 a barrel

  • Spot gold rose 0.2% to $1,758.35 an ounce

This story was produced with the assistance of Bloomberg Automation.

Most Read from Bloomberg Businessweek

©2022 Bloomberg L.P.

Continue Reading
Advertisement

Breaking News

Advertisement

Editor Pick’s

Latest Entertainment

Entertainment14 hours ago

George Clooney says he was ‘objectified’ in early roles

George Clooney walks the red carpet at the Ticket to Paradise premiere at Regency Village Theatre in Los Angeles on...

Entertainment15 hours ago

Oscar Predictions: Best Supporting Actor – Ke Huy Quan Is a Story Worth Honoring This Season

Rank Name Film Distributor 1 Ke Huy Quan “Everything Everywhere All at Once” A24 An aging Chinese immigrant is swept...

Entertainment17 hours ago

Sally Field reveals that Burt Reynolds was her worst onscreen kiss: ‘Just a lot of drooling’

Turns out, Sally Field didn’t exactly have a field day when it came time to kiss her Smokey and the...

Entertainment18 hours ago

New Trailer For Miss Cleo Documentary Hints At ‘Web Of Stories’ Surrounding Her Life

Youree Dell Harris, aka Miss Cleo, is pictured on Feb. 24, 2009, in Lake Worth, Florida. Youree Dell Harris, aka...

Entertainment18 hours ago

Jury begins deliberations in Harvey Weinstein rape trial

LOS ANGELES (AP) — Jurors began deliberating Friday in the Los Angeles rape and sexual assault trial of Harvey Weinstein,...

Entertainment19 hours ago

Man arrested in fatal shooting of Migos rapper Takeoff

HOUSTON (AP) — Police have arrested a 33-year-old man in the fatal shooting of rapper Takeoff, who was killed last...

Entertainment19 hours ago

John Krasinski says his kids think he works in an office and when he showed them episodes of his show “The Office,” his youngest didn’t believe it was him on TV

John Krasinski, left, and right, as Jim Halpert in “The Office.”Jason Howard/Bauer-Griffin/GC Images; NBCUniversal/Getty Images John Krasinski’s kids think he...

Entertainment19 hours ago

‘Midnight Club’ Creator Mike Flanagan Reveals All Answers to Unresolved Mysteries After Show’s Cancellation, Including Mirror Man and Cataract Woman

Mike Flanagan kept his word and has revealed the answers to burning questions from the cliffhanger ending of “The Midnight...

Latest Sports

Sports1 hour ago

Michigan football vs. Purdue: Big Ten title game predictions

Free Press sports writers share their predictions for the Big Ten title game Saturday between Michigan football and Purdue in...

Sports1 hour ago

Uruguay Players Angrily Follow Refs Into Tunnel After World Cup Elimination

Players from Uruguay let out their frustration, yelling at refs as they exited Al Janoub Stadium amid the Sky Blue's...

Sports2 hours ago

World Cup Round of 16 scores, updates: United States vs. Netherlands

The first of the Round of 16 games are upon us.

Sports2 hours ago

Jordan Poole baffled by ‘controlling’ refs calling celebration technical fouls

Jordan Poole reacted postgame after receiving a technical foul for celebrating on the bench.

Sports3 hours ago

Photo Gallery: Nebraska outlasts Kansas to advance to Sweet 16

Jansen Coburn/Inside Nebraska Nebraska defeated Kansas in a four-set, grind-it-out match on Friday night to advance to an 11th straight...

Sports3 hours ago

All Georgia’s Stetson Bennett does is deliver, even if he’s not a tantalizing NFL prospect

Stetson Bennett may not be high on NFL draft radar, but all he's done at Georgia is win.

Sports4 hours ago

Michigan DL Mazi Smith facing felony weapons charge, will continue to play

The charge against Smith was filed on Wednesday stemming from an alleged Oct. 7 incident in Ann Arbor.

Sports4 hours ago

What Draymond Green learned about himself after Jordan Poole altercation

In an interview with Marc J. Spears, Draymond Green shares what he learned from his altercation with Jordan Poole.

Technology Hot News

Is Elon Musk Really Going to Buy Twitter? Is Elon Musk Really Going to Buy Twitter?
Technology1 month ago

Is Elon Musk Really Going to Buy Twitter?

Elon Musk, the owner of the electric car company Tesla, CEO of SpaceX, and the richest man in the world,...

WhatsApp services were affected across Pakistan, restored after 2 hours WhatsApp services were affected across Pakistan, restored after 2 hours
Technology1 month ago

WhatsApp services were affected across Pakistan, restored after 2 hours

WhatsApp services were affected in various countries of the world, including Pakistan, and India due to this users were facing...

Bitcoin vs Litecoin: A guide to understanding cryptocurrencies Bitcoin vs Litecoin: A guide to understanding cryptocurrencies
Technology2 months ago

Bitcoin vs Litecoin: A guide to understanding cryptocurrencies

Cryptocurrencies currently occupy an odd place in society. They are no longer the super niche bizarre currency beloved by tech...

Personal data of people is selling on Google Play and Google Ads Personal data of people is selling on Google Play and Google Ads
Editor Picks3 months ago

Personal data of people are sold on Google Play and Google Ads

It’s been two to three years since Google has been unknowingly hosting multiple apps from malicious actors who sell personal...

Protonmail is down a second time in the past 24 hours Protonmail is down a second time in the past 24 hours
Technology5 months ago

Protonmail is down a second time in the past 24 hours

An end-to-end encrypted email service Protonmail is down a second time in the past 24 hours, netizens reported on social...

What's better for the student: a tablet or a laptop What's better for the student: a tablet or a laptop
Technology6 months ago

What’s better for the student: a tablet or a laptop

Some analysts argue that computers have outlived their usefulness. There is some truth in this: PC and laptop sales are...

Tesla founder Elon Musk holds the Twitter deal temporary Tesla founder Elon Musk holds the Twitter deal temporary
Technology7 months ago

Tesla founder Elon Musk holds the Twitter deal temporary

USA: Elon Musk, the founder of companies like Tesla and SpaceX, can actually buy anything in the world. Last month,...

How Zafar Supari is utilizing his ability on Snapchat? How Zafar Supari is utilizing his ability on Snapchat?
Technology7 months ago

How Zafar Supari is utilizing his ability on Snapchat?

Pakistan: Zafar Supari a public figure, businessman, and social media sensation has crossed one hundred thirty-three thousand 133k subscribers on...