ASIA MARKETS / Positive conditions in the US ensure an increase in prices | News

SHANGHAI / HONG KONG (Dow Jones) – East Asian stocks gained earlier this week on positive Wall Street signals. There, after five trading days, he raised the fees again. The reason was declining fears that the US Federal Reserve may raise interest rates by 100 basis points at the upcoming meeting. At the meeting on July 27, it is considered that a further interest rate hike by 75 basis points was agreed by the majority in order to contain persistently high inflation. Additionally, there were good economic data from the US, which raised hopes that the US will not plunge into recession as a result of interest rate hikes.

Federal Reserve Chairman of St. Louis, James Bullard, recently called for a stronger one rate hike. He was in favor of raising interest rates to 3.75 to 4 percent this year. So far, he has campaigned for a raise to 3.5 percent. The Fed needs to act more aggressively this year to contain “persistently high inflation”. Bullard did not want to commit to a rate hike at the next meeting.

The Shanghai Composite and Hong Kong Hang Seng Index recorded the largest increases, by 1.5 and 2.6 percent respectively. Market watchers are also talking of a recovery from strong sell-offs on Friday as China’s unexpected economic growth in the second quarter resulted in a heavy setback. Against the backdrop of the coronavirus blockade, GDP grew by only 0.4%. compared to the previous year, but economists expected an increase of 0.9 percent. Therefore, the Beijing government’s annual target of 5.5 percent. growth is unlikely.

Also in Seoul, Kospi grew by 1.7 percent. Here it is mainly stocks from the tech and retail sectors showing significant gains. Shares of the two largest indices, Samsung Electronics and SK Hynix, rose by 2.5 and 3.9 percent, respectively. There will be no trading in Tokyo due to the public holiday on Monday.

According to the latest inflation data, New Zealand increased by 0.5%. In the second quarter, consumer prices increased by 7.3 percent. compared to the previous year, while economists only expected an increase of 7.1 percent. However, Capital Economics analysts assume that inflation is likely to have peaked. According to ANZ economists, the possibility of New Zealand’s central bank raising interest rates by 75 basis points at its mid-August meeting has become “very real”. The bank now expects interest rates to be 4.0% by the end of the year, up from 3.5%. previously. According to ANZ, this means the base scenario of increases by 50 basis points in the remaining three sessions this year.

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

S & P / ASX 200 (Sydney) 6,664.00 + 0.9% -10.5% 08:00

Nikkei-225 (Tokyo) HOLIDAY

Kospi (Seoul) 2,370.42 + 1.7% -20.4% 08:00

Shanghai Comp. 3276.17 + 1.5% -10.0% 09:00

Hang Seng (Hong Kong) 20 820.87 + 2.6% -13.2% 10:00

Strait times (Sing.) 3,116.30 + 0.6% -0.9% 11:00

KLCI (Malaysia) 1,418.75 + 0.0% -9.5% 11:00

FOREX last + / -% 00:00 Fri, 9:13% YTD

EUR / USD 1.0094 + 0.1% 1.0085 1.0014 -11.2%

EUR / JPY 139.63 -0.1% 139.72 138.77 + 6.7%

EUR / GBP 0.8490 -0.1% 0.8498 0.8475 + 1.0%

GBP / USD 1.1890 + 0.2% 1.1868 1.1816 -12.1%

USD / JPY 138.32 -0.2% 138.56 138.58 + 20.2%

USD / KRW 1,319.23 0% 1,319.23 1,329.24 + 11.0%

USD / CNY 6.7575 + 0.0% 6.7575 6.7664 + 6.3%

USD / CNH 6.7554 -0.2% 6.7657 6.7797 + 6.3%

USD / HKD 7.8500 + 0.0% 7.8498 7.8500 + 0.7%

AUD / USD 0.6804 + 0.2% 0.6791 0.6726 -6.3%

NZD / USD 0.6168 + 0.2% 0.6154 0.6128 -9.6%

Bitcoin

BTC / USD 21 178.02 + 0.8% 21 008.14 20 659.30 -54.2%

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

WTI / Nymex 97.99 97.59 + 0.4% 0.40 + 35.8%

Brent / ICE 101.89 101.16 + 0.7% 0.73 + 36.0%

GAS VT close +/- EUR

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

Gold (spot) 1,716.17 1,707.70 + 0.5% +8.47 -6.2%

Silver (Spot) 18.83 18.70 + 0.7% +0.13 -19.2%

Platinum (Spot) 862.30 848.75 + 1.6% +13.55 -11.2%

Future Miedź 3.30 3.24 + 2.0% +0.06 -25.7%

YTD at the end of the day

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Contact the author: maerkte.de@dowjones.com

DJG / DJN / ros / thl

(END) Dow Jones Newswires

July 18, 2022 00:36 ET (04:36 GMT)

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