Stock Market News

Asian Stocks Up, Investors Keep an Eye on Central Banks’ Rate Decisions

2022.07.20 05:53

Asian Stocks Up, Investors Keep an Eye on Central Banks' Rate Decisions

By Zhang Mengying

Investing.com – Asia Pacific stocks were up on Wednesday morning. Investors speculated that the worst of 2022’s equity rout is over.

Japan’s Nikkei 225 rose 2.35% by 10:26 PM ET (2:26 AM GMT).

South Korea’s KOSPI was up 0.90%. US Treasury Secretary Janet Yellen started her two-day visit to South Korea.

In Australia, the ASX 200 was up 1.72%. Reserve Bank of Australia signaled the need for higher interest rates to contain rising inflation, even after recent rate hikes, as unemployment drops to its lowest level in nearly 50 years, according to minutes of its July policy meeting on Tuesday.

Hong Kong’s Hang Seng Index rose 1.97%.

China’s Shanghai Composite was up 0.67% while the Shenzhen Component rose 0.71%. China is reported to fine ride-hailing giant Didi Global Inc. more than $1 billion after a year-long probe into the firm. Investors remained concerned about China’s crackdown on the tech industry.

Also on investor’s radar is that the U.S. Federal Reserve will avoid very aggressive monetary tightening.

“Stocks have been beaten down,” Kristina Hooper, chief global market strategist at Invesco, wrote in a note. “That doesn’t mean we won’t see more downside for some stock markets around the world, especially given that earnings expectations are likely to be adjusted downward. But I believe we are far closer to the bottom than the top.”

Across the Atlantic, Gazprom PJSC (OTC:OGZPY) is poised to restart gas exports to Europe on Thursday at reduced capacity through its Nord Stream pipeline which is scheduled to reopen following maintenance.

On the data front, the Bank of Japan and the European Central Bank are due to release their interest rate decisions on Thursday.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,643.43 0.54%
ethereum
Ethereum (ETH) $ 3,475.06 2.01%
tether
Tether (USDT) $ 1.00 0.10%
solana
Solana (SOL) $ 255.68 0.50%
bnb
BNB (BNB) $ 674.16 0.56%
xrp
XRP (XRP) $ 1.51 4.63%
dogecoin
Dogecoin (DOGE) $ 0.435446 1.00%
usd-coin
USDC (USDC) $ 0.999798 0.07%
cardano
Cardano (ADA) $ 1.06 1.65%
staked-ether
Lido Staked Ether (STETH) $ 3,479.92 2.17%
avalanche-2
Avalanche (AVAX) $ 46.74 12.21%
tron
TRON (TRX) $ 0.211663 1.27%
stellar
Stellar (XLM) $ 0.53927 5.38%
the-open-network
Toncoin (TON) $ 6.23 0.82%
shiba-inu
Shiba Inu (SHIB) $ 0.000026 1.04%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,093.46 1.48%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,431.37 0.48%
polkadot
Polkadot (DOT) $ 9.14 3.16%
chainlink
Chainlink (LINK) $ 18.59 6.91%
bitcoin-cash
Bitcoin Cash (BCH) $ 524.00 3.29%
weth
WETH (WETH) $ 3,473.58 2.09%
sui
Sui (SUI) $ 3.47 0.92%
pepe
Pepe (PEPE) $ 0.00002 0.43%
near
NEAR Protocol (NEAR) $ 6.90 5.59%
leo-token
LEO Token (LEO) $ 8.20 5.76%
litecoin
Litecoin (LTC) $ 98.45 1.06%
uniswap
Uniswap (UNI) $ 11.75 6.39%
aptos
Aptos (APT) $ 12.76 1.37%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,664.18 2.15%
internet-computer
Internet Computer (ICP) $ 12.29 6.73%
hedera-hashgraph
Hedera (HBAR) $ 0.147277 2.25%
usds
USDS (USDS) $ 1.00 0.03%
crypto-com-chain
Cronos (CRO) $ 0.192832 1.11%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.58235 2.40%
ethereum-classic
Ethereum Classic (ETC) $ 30.12 2.23%
render-token
Render (RENDER) $ 8.20 3.22%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.54 1.74%
bittensor
Bittensor (TAO) $ 537.44 0.32%
kaspa
Kaspa (KAS) $ 0.156641 2.66%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.16%
arbitrum
Arbitrum (ARB) $ 0.889458 2.35%
vechain
VeChain (VET) $ 0.044069 1.79%
bonk
Bonk (BONK) $ 0.000047 2.44%
whitebit
WhiteBIT Coin (WBT) $ 24.44 1.21%
filecoin
Filecoin (FIL) $ 5.79 0.71%
dai
Dai (DAI) $ 0.999161 0.14%
cosmos
Cosmos Hub (ATOM) $ 8.80 1.88%
celestia
Celestia (TIA) $ 8.05 11.62%
blockstack
Stacks (STX) $ 2.25 7.52%
okb
OKB (OKB) $ 56.15 0.90%