Thursday, July 7, 2022
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Asia

Global shares edge lower on new COVID-19 outbreaks in Asia

MtR by MtR
June 30, 2021
in Asia
0


  • Banks, tech stocks propel S&P 500 to new highs
  • Investors await U.S. jobs data due on Friday
  • Delta variant pressures Asian stocks
  • Gold swoons to 11-week low on dollar, hawkish Fed

LONDON/SYDNEY, June 29 (Reuters) – Global shares edged lower on Tuesday, as new coronavirus outbreaks in Asia vied with strong U.S. consumer confidence, and as investors speculated about whether the Federal Reserve would accelerate its timetable to end easy monetary policy.

MSCI’s all country world index, which tracks shares across 50 countries, shed 0.14%, as declines in Asian equities undercut new highs in European and U.S markets.

The S&P 500 hit a record high for the fourth straight session, helped by technology and banks stocks, and a government survey that showed U.S. consumer confidence in June hit its highest since the pandemic started.

European stocks measured by the the pan-European STOXX 600 index rose 0.31%, helped by a jump in industrial, financial and mining stocks set to benefit from economic improvements.

However, MSCI’s broadest index of Asia-Pacific shares outside Japan closed 0.55% lower, while Japan’s Nikkei lost 0.81%, as some countries re-imposed lockdowns to contain the spread of the Delta variant of COVID-19.

Chinese stocks lost 0.92% as investors booked profits after a rally on the economy’s strong rebound from the pandemic.

Fears over the highly infectious Delta variant are denting sentiment in markets already on edge after the Fed appeared to take a hawkish tilt this month.

Indonesia is grappling with record-high cases, Malaysia is extending its lockdown and Thailand announced new restrictions. Spain and Portugal were imposing travel restrictions on unvaccinated British travelers.

“The outlook for policy in general and the U.S. specifically, both fiscal and monetary, is the more relevant factor in the market’s mind right now rather than the spread of the Delta variant,” said James Athey, investment director at Aberdeen Standard Investments.

“That may well prove to be naive or complacent.”

On Friday, markets will watch the U.S. jobs report for June, with economists polled by Reuters expecting a gain of 690,000 jobs this month, up from 559,000 in May.

Richmond Federal Reserve President Thomas Barkin said on Monday the U.S. central bank has made “substantial further progress” toward its inflation goal in order to begin tapering asset purchases.

Those comments and the anticipation of a strong jobs report have investors on edge that the Fed will bring forward its timeline for interest rate increases.

“Inflation is already much higher than the Fed was anticipating, so it is really the pace of improvement in the labor market that stands head and shoulders above every other indicator in terms of when the Fed will feel comfortable signaling the start of tapering,” said Ray Attrill, Head of FX Strategy at National Australia Bank in Sydney.

On Wall Street, the Dow Jones Industrial Average fell 6.68 points, or 0.02%, the S&P 500 lost 3.05 points, or 0.07%, and the Nasdaq Composite added 3.44 points, or 0.02%.

Germany’s DAX added 1%, grinding higher after data showed an easing of Germany’s annual consumer price inflation in June. The reading of 2.1% was still above the European Central Bank’s target of close to but below 2%.

Yields for benchmark 10-year U.S. Treasuries last fell 1/32 in price to yield 1.4799%, from 1.478%.

Germany’s 10-year bond yield was up 1 basis point at -0.173%.

The U.S. dollar rose to a one-week peak. The dollar index, which tracks the greenback versus a basket of six currencies, rose 0.192%, with the euro down 0.2% to $1.19.

Sterling was last $1.3848, down 0.25%. The Australian dollar, seen as a liquid proxy for risk appetite, fell 0.70% versus the greenback at $0.751.

Oil prices rose as hopes for a demand recovery persisted despite new outbreaks of the Delta variant.

Brent crude futures settled up 8 cents, or 0.11%, and U.S. crude settled up 7 cents, or up 0.10%.

Spot gold dropped 0.8% to $1,764.92 an ounce. U.S. gold futures fell 0.97% to $1,762.60 an ounce.

Reporting by Tom Arnold in London and Paulina Duran in Sydney; Editing by Shri Navaratnam and Emelia Sithole-Matarise

Our Standards: The Thomson Reuters Trust Principles.



Source link

Related articles

Japan could be about to surprise markets with monetary policy

July 7, 2022

China's cities offer evictees sweeteners to boost housing market – Nikkei Asia

July 6, 2022

Related Posts

Japan could be about to surprise markets with monetary policy

by MtR
July 7, 2022
0

Japan's national flag flies atop the Bank of Japan building on November 12, 2019 in Tokyo, Japan.Tomohiro Ohsumi | Getty...

China's cities offer evictees sweeteners to boost housing market – Nikkei Asia

by MtR
July 6, 2022
0

China's cities offer evictees sweeteners to boost housing market  Nikkei Asia Source link

Oil From US Strategic Reserve Went to Asia, Europe As Gas Prices Leapt

by MtR
July 6, 2022
0

More than 5 million barrels of oil from the US Strategic Petroleum Reserve were exported to Asia and Europe last...

Asia Pacific Solar Power Equipment Market Forecast Report to 2027: Increased Demand for Clean and Renewable Energy, Rapid Urbanization, Industrialization and Economic Growth Drive Demand – ResearchAndMarkets.com

by MtR
July 6, 2022
0

DUBLIN--(BUSINESS WIRE)--The "Asia Pacific Solar Power Equipment Market Size, Share & Industry Trends Analysis Report By Equipment, By Application, By...

Sensex rises 250 points, Nifty above 15,850; Asian Paints gains 3% – Economic Times

by MtR
July 6, 2022
0

Sensex rises 250 points, Nifty above 15,850; Asian Paints gains 3%  Economic Times Source link

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021
Fed tapering and emerging markets

Fed tapering and emerging markets

June 7, 2021
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

Online Gaming Market Size to Achieve USD 132 Billion by

July 7, 2022

SPYR, Inc. Issues Statement on Recently Identified

July 7, 2022

Japan could be about to surprise markets with monetary policy

July 7, 2022

Global Prenatal Vitamin Supplements Market is estimated to

July 7, 2022

Recent News

Online Gaming Market Size to Achieve USD 132 Billion by

July 7, 2022

SPYR, Inc. Issues Statement on Recently Identified

July 7, 2022

Japan could be about to surprise markets with monetary policy

July 7, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter