BANGKOK (AP) – Shares in Asia plunged on Thursday as Chinese benchmarks raised concerns among major companies that they could lose their shares on US stock exchanges.
The Tokyo Nikkei 225 index jumped 1.1%, while Seoul and Sydney recorded modest gains. Hong Kong and Shanghai were flat.
Oil prices fell on Wednesday amid concerns over a disruption to a cargo ship the size of a skyscraper through Egypt’s Suez Canal.
The Panamanian-flagged cargo ship carrying cargo across Asia’s Europe continues to free Evergreen, which sank on Tuesday in a narrow man-made canal separating mainland Africa from the Sinai Peninsula.
The US Securities and Exchange Commission announced on Wednesday that it was adopting an interim rule that some foreign companies must submit documents to show that they are not owned by a government agency. The demand is expected to mainly affect Chinese companies listed on US stock exchanges, and the SEC statement stimulated the sale of such companies in Hong Kong.
Shares of e-commerce giant Alibaba lost 3.7%; Tencent Holdings forecast 3.7%; Search engine Baidu rejected 8.6%, while mobile phone maker Xiaomi – 4.8%.
“Tencent և Alibaba tech giants have gained momentum after US regulators resumed threats to oust China’s most prominent corporations, compounding concerns about growing domestic antitrust pressure,” said Axi’s Steven Innes :
Investors are pursuing efforts to combat the economic impact of the coronavirus epidemic. The Biden administration estimates up to $ 3 trillion in additional spending on infrastructure, green energy and education.
Treasury Secretary Ethan Yellen told the Senate he thought the U.S. government had more room for borrowing, but said higher taxes would be needed in the long run to fund future spending increases. This has affected some investors.
Meanwhile, Federal Reserve Chairman ome Jerome Powell reiterated that the recent jump in the 10-year US Treasury yield, which fell to less than 1% on Thursday at 1.63%, was largely a sign of investor confidence that the economy is improving.
The Nikkei was up 28,729.88 and the Hong Kong Hang Seng was flat at 27,919.59. The Shanghai Composite Index was also stable at 3,366.54. South Korea’s Cospin rose 0.4% to 3,008.33 and the Sydney S&P / ASX 200 rose 0.2% to 6,790.60.
India’s Sensex lost 1.8% and shares were higher in Taiwan and much of Southeast Asia except akarta.
On Wednesday, the S&P 500 was down 0.5% at 3,889.14, the second consecutive loss, while the technology-heavy Nasdaq fell 2% to 12,961,89.89.
Technology ընկեր companies provided the largest sales of financial, energy and industrial resources, dominated by profits. Apple fell 2% and Facebook lost 2.9%.
The Dow Jones Industrial Average fell less than 0.1% to 32420.06 after gaining 364 points as of late afternoon.
The company’s smaller shares were worse off than the wider market. The Russell 2000 index lost 2.4% to 2,134.27.
Bond yields have risen this year as traders looked at the potential for inflationary pressures as struggling economies were flooded with government spending. It pushed down US bond prices, prompting some to move money out of stocks.
Although rising interest rates are a major concern, the epidemic remains a major issue for investors. Shares fell on Tuesday after Germany, Europe’s largest economy, սահման the Netherlands introduced new trips ություններ trips in response to rising infection rates. This was followed by similar moves by Italy and France earlier.
The shares of the bank, which were beaten on Tuesday, were among the best performers. Banks have been volatile for the past two weeks as investors try to assess the impact of higher interest rates on the US economy. Higher interest rates may slow down the economy, but they also allow banks to charge more for loans. JPMorgan Chase added 0.8%.
GameStop shattered Wall Street forecasts by 33.8% after the release of the report, although shares have continued to rise more than six times since the beginning of the year after investing in social media for a large number of online investors.
At the New York Mercantile Exchange, US crude oil lost $ 1.14 per barrel – $ 60.04. Brent oil, the international standard for oil prices, lost $ 1.06 per barrel – $ 63.19.
The US dollar rose from 108.73 yen to 108.97 Japanese yen on Wednesday. The euro strengthened to $ 1.1819 from $ 1.1813.