ASIA MARKETS / Pregnancy fears of recession – energy sector follows fall in oil prices | News

TOKYO / SHANGHAI (Dow Jones) – A negative sign dominated East Asian and Australian stock exchanges in the middle of the week. Traders spoke of renewed fears of recession fueled by high inflation and rising interest rates. In addition, new blockades in China due to the rising number of corona infections could exacerbate existing supply bottlenecks. Many investors also wanted to wait for the manufacturing PMI indices in the US and the minutes of the last US Federal Reserve meeting, which are to be released on Wednesday, long after the Asian market close. In addition, the official report on the US labor market is to be published on Friday.

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In Tokyo, the Nikkei 225 index fell by 1.2 percent. In Shanghai, the composite index fell 1.4 percent, while in Hong Kong (late trading) the Hang Seng index fell 1.9 percent. On the South Korean stock exchange in Seoul, Kospi closed 2.1 percent. below. The Australian stock market was doing relatively well and the S&P ASX 200 was down 0.4%. In this case, price increases in the heavily weighted banking sector prevented a more pronounced negative. Some financial institutions responded to rate hike the australian central bank raised lending rates the day before.

Falling oil prices are causing the sector’s share prices to plummet

Across the region, energy and commodity equities came under pressure after concerns about a weakening in demand amid the recession that drove oil prices sharply on Tuesday. Inpex fell 10 percent on the Tokyo Stock Exchange. Mitsubishi and Mitsui malls, which trade energy and commodities, lost 4.9 and 5.5 percent. In Sydney, Woodside was down 6.9 percent and Santos was down 5.7 percent. CNOOC gave up about 6 percent. in Hong Kong, and S-Oil in Seoul 9.3 percent. The course of the shipyard operator Hyundai Heavy Industries, which also builds tankers, collapsed by 10 percent.

Fear of the consequences of subsequent blockades weighed heavily on the actions of Chinese catering companies. Among others, Yum China Holdings in Hong Kong fell by more than 7 percent, and Haidilao by about 6 percent.

Meanwhile, in the Japanese pharmaceutical sector, Eisai gained 5.9 percent. The US Food and Drug Administration will review the Alzheimer’s disease drug lecanemab as part of an accelerated review process.

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Index (stock market) last +/-%% YTD end

S & P / ASX 200 (Sydney) 6,594.50 -0.5% -11.4% 08:00

Nikkei-225 (Tokyo) 26 107.65 -1.2% -8.2% 08:00

Kospi (Seoul) 2,292.01 -2.1% -23.0% 08:00

Shanghai Comp. 3 355.30 -1.4% -7.8% 09:00

Hang Seng (Hong Kong) 21,430.56 -1.9% -6.7% 10:00

Taiex (Taiwan) 14,015.83 -2.3% -23.1% 07:30

Strait times (Sing.) 3,099.25 -0.2% -0.7% 11:00

KLCI (Malaysia) 1,425.20 -1.1% -8.1% 11:00

BSE (Bombay) 53,475.52 + 0.6% -8.2% 12:00

FOREX last + / -% 00:00 Tue 9:15% YTD

EUR / USD 1.0259 -0.1% 1.0265 1.0396 -9.8%

EUR / JPY 138.85 -0.4% 139.46 141.64 + 6.1%

EUR / GBP 0.8581 -0.1% 0.8587 0.8612 + 2.1%

GBP / USD 1.1957 + 0.0% 1.1955 1.2077 -11.6%

USD / JPY 135.34 -0.4% 135.85 136.16 + 17.6%

USD / KRW 1,303.56 -0.4% 1,308.53 1,302.45 + 9.7%

USD / CNY 6.7062 -0.2% 6.7199 6.6983 + 5.5%

USD / CNH 6.7093 -0.1% 6.7135 6.6993 + 5.6%

USD / HKD 7.8470 + 0.0% 7.8469 7.8466 + 0.7%

AUD / USD 0.6802 + 0.1% 0.6797 0.6827 -6.3%

NZD / USD 0.6170 -0.0% 0.6170 0.6184 -9.6%

Bitcoin

BTC / USD 20 139.27 -0.9% 20 332.23 20 248.28 -56.4%

ROHOEL the last VT-Settl. +/-% +/- USD% YTD

WTI / Nymex 101.02 99.50 + 1.5% 1.52 + 40.0%

Brent / ICE 104.87 102.77 + 2.0% 2.10 + 40.0%

GAS VT close +/- EUR

Dutch TTF 153.00 163.64 -7.3% -12.08 + 37.9%

METALS last day before +/-% +/- USD% YTD

Gold (spot) 1,768.80 1,764.87 + 0.2% + 3.93 -3.3%

Silver (Spot) 19.22 19.22 -0.0% -0.00 -17.6%

Platinum (Spot) 867.65 868.85 -0.1% -1.20 -10.6%

The future of copper 3.38 3.43 -1.2% -0.04 -23.9%

YTD at the end of the day

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Contact the author: maerkte.de@dowjones.com

DJG / DJN / cln / once

(END) Dow Jones Newswires

July 6, 2022 3:24 AM ET (7:24 GMT)

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