Beijing (AP) — Asian stock markets have been mixed after Wall Street fell due to a fall in tech stocks on Tuesday.
Tokyo and Sydney have receded, while Shanghai, Hong Kong and Seoul have risen.
Overnight, Wall Street’s Benchmark S & P 500 Index fell 0.5%. Banks and energy companies that depend on personal consumption have also withdrawn.
Investor optimism is driven by increased corporate profits, US employment and consumer confidence. Still, traders are worried about inflation, rising interest rates and the new coronavirus infection, and some governments have re-imposed anti-disease measures.
“The Asian market is short-term as investors balance the impact of rising interest rates with the growing optimism that stagnant demand boosts earnings,” said Janet Tsang of JP Morgan Asset Management. I’m experiencing a lot of volatility. “
The Shanghai Composite Index rose 0.4% to 3,491.35, while the Nikkei 225 in Tokyo fell 2.1% to 29,052.11. Hong Kong’s Hang Seng Index fell, but rose 0.2% at noon to 29,173.25.
Seoul’s Kospi rose 0.5% to 3,214.99, and Sydney’s S & P-ASX 200 fell 0.7% to 7,019.20.
India’s Sensex opened 0.5% at 48,208.06. New Zealand, Singapore and Jakarta declined while Bangkok moved forward.
On Wall Street, the S & P 500 fell to 4,163.26 on Monday. The Dow Jones Industrial Average fell 0.4% to 34,077.63. Both hit highs on Friday.
Chip maker Intel was down 1.7%, Capital One was down 0.9% and Valero Energy was down 2.3%.
The high-tech Nasdaq Composite index fell 1% to 13,914.77.
Tesla fell 3.4% after one of its models crashed and two people died in Texas. Officials say there was no one in the driver’s seat at the time of the crash. It is unknown if the car driving assistance system was used.
Eighty-one of the index’s 500 members will make money on the report this week, as will 10 of Dow’s 30 members, including Johnson & Johnson, Verizon Communications and Intel.
Analysts expect overall S & P 500 quarterly profits to increase 24% year-over-year, according to FactSet.
In the energy market, electronic trading on the New York Mercantile Exchange raised benchmark US crude oil by 62 cents to $ 64.05 per barrel. In London, Brent crude, which was used to price international oil, rose 69 cents to $ 67.74 a barrel.
The dollar rose from 108.11 yen on Monday to 108.20 yen. The euro has risen from $ 1.2039 to $ 1.2063.