ASIA MARKET / Mostly friendly – Abe’s murder attempt slows down Nikkei | News

TOKYO / SHANGHAI (Dow Jones) – East Asian and Australian equities rose on Friday mainly after the surge on Wall Street the day before. The statements of the US Federal Reserve official eased fears of American investors about recession and interest rate hikes. James Bullard, chairman of the Federal Reserve for St. Louis believes further interest rate hikes are necessary to fight high inflation, but sees no recession. This raised hopes among US investors that the Fed may not have to hike rates as aggressively as previously expected.

The US labor market report for June will show whether the situation with the data confirms the central banker’s right. It will be released on Friday long after the Asian markets close, so investors in the region behaved cautiously and the price increases were less pronounced than on Thursday in the US.

In Tokyo, action rebounded from its daily highs with the news that former Japanese Prime Minister Shinzo Abe had been fatally wounded in an election campaign. In Japan, elections to the upper house are scheduled for the weekend. The Nikkei 225 index closed 0.1 percent. higher. Energy and financial stocks led the way on the Japanese stock exchange. Among others, Inpex gained 2.7 percent and Resona Holdings 2.3 percent.

The Australian stock market also slashed its profits after Abe’s murder was revealed. The S & P / ASX-200 saved 0.5 percent of profit over the target. Commodity shares were among the major gains. Among others, St. Barbara rose 9.6 percent after the gold mine operator met its production targets.

Fresh stimulus supports China’s infrastructure stock

The prospect of economic stimulus did not provide sustained support for the Shanghai Stock Exchange. Composite index ended by 0.2 percent. lower. The Chinese government plans to support infrastructure projects and encourage the purchase of electric cars that supported actions in the relevant sectors. Among others, China Railway Group gained 2.6%, China Communications Construction 0.8% and Shanghai Construction 0.3%.

Among electric car makers Saic in Shanghai gained 5.6 percent. Nio grew 6.3 percent and Xpeng 0.3 percent in Hong Kong at the end of the trade. The Hang Seng Index tended to hold well in late trading.

In Seoul, Kospi gained 0.7 percent. We were looking for shares in car manufacturers and suppliers. Mando and Hyundai Mobis increased by 4.1 and 5.7 percent, respectively, and Hyundai Motor by 1.7 percent. Battery maker LG Energy Solution gained 3.9 percent in hopes of better performance in the third quarter. The shares of the parent company LG Chem increased by 3.1 percent. Korea Shipbuilding & Offshore Engineering has responded to the new order with an increase of 0.6 percent. The Samsung Electronics Heavyweight Index rose 0.9 percent.

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

S & P / ASX 200 (Sydney) 6,678.00 + 0.5% -10.3% 08:00

Nikkei-225 (Tokyo) 26 517.19 + 0.1% -8.0% 08:00

Kospi (Seoul) 2,350.61 + 0.7% -21.1% 08:00

Shanghai Comp. 3 356.08 -0.2% -7.8% 09:00

Hang Seng (Hong Kong) 21,713.18 + 0.3% -7.6% 10:00

Taiex (Taiwan) 14,464.53 + 0.9% -20.6% 07:30

Strait times (Sing.) 3 127.12 -0.1% + 0.1% 11:00

KLCI (Malaysia) 1,424.85 + 0.4% -9.5% 11:00

BSE (Bombay) 54,434.38 + 0.5% -6.6% 12:00

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

EUR / USD 1.0149 -0.1% 1.0163 1.0193 -10.7%

EUR / JPY 137.80 -0.3% 138.23 138.44 + 5.3%

EUR / GBP 0.8463 + 0.1% 0.8453 0.8531 + 0.7%

GBP / USD 1.1992 -0.3% 1.2023 1.1948 -11.4%

USD / JPY 135.79 -0.2% 136.03 135.79 + 18.0%

USD / KRW 1,300.86 + 0.2% 1,297.65 1,301.33 + 9.4%

USD / CNY 6.7029 + 0.0% 6.7020 6.7057 + 5.5%

USD / CNH 6.7040 + 0.2% 6.6922 6.7081 + 5.5%

USD / HKD 7.8490 + 0.0% 7.8476 7.8482 + 0.7%

AUD / USD 0.6825 -0.2% 0.6840 0.6810 -6.0%

NZD / USD 0.6165 -0.2% 0.6176 0.6174 -9.7%

Bitcoin

BTC / USD 21 774.39 + 0.5% 21 657.15 20 333.97 -52.9%

ROHL last VT-Settl. +/-% +/- USD% YTD

WTI / Nymex 102.11 102.73 -0.6% -0.62 + 41.5%

Brent / ICE 104.70 104.65 + 0.0% 0.05 + 39.8%

GAS VT close +/- EUR

Dutch TTF 173.11 184.50 -5.5% -10.08 + 41.6%

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

Gold (spot) 1 742.46 1 740.06 + 0.1% + 2.40 -4.8%

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

Platinum (Spot) 881.08 876.73 + 0.5% +4.35 -9.2%

The future of copper 3.50 3.58 -2.4% -0.08 -21.3%

YTD at the end of the day

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Contact the author: maerkte.de@dowjones.com

DJG / DJN / cln / flf

(END) Dow Jones Newswires

Jul 8, 2022 4:02 AM ET (8:02 GMT)

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