Friday, 19 January 2018
Indexes in Asia increase despite Wall Street's ugly close
A vast majority of
Asian stock indexes were able to secure gains by the end of the week, although
uncertainty continues to weigh on market sentiment.
In Japan, the
Nikkei 225 remained close to its 26-year high, with financial and automakers
contributing most gains. Nintendo stocks jumped by 3.75 percent as the
videogame company announced it will be releasing a series of Nintendo Switch
accessories.
In Hong Kong, the
Hang Seng continued to strengthen following a third-consecutive record close.
The Shanghai composite added nearly half a percent.
Wall Street top
three ended in red territory on Thursday as market participants assessed the
possibility of a government shutdown later this week.
All attention is
now placed at Congress, which needs to give green light to a spending bill on
Friday to avoid a shutdown. A government shutdown tends to generate moderate
pullbacks.
So far this year,
equity indexes have added more than 4.8 percent to last year’s solid results.
According to a recent report, of S&P 500 companies reporting fourth-quarter
earnings on Wednesday, at least 78 have shown better-than-expected numbers.
On Thursday,
building permits came in at a 1.302 million units rate, above an initially
forecasted 1.290 million units. Housing starts were down by 8.2 percent in
December to a rate of 1.192 million. Initial jobless claims notched down more
than expected to 220,000.
<<< Next
in Europe >>>
Ahead in today’s
session, Germany’s producer price index for December is scheduled for release
as of 07:00 GMT. Analysts are forecasting a 0.2 percent advance.
Also, European
investors will keep an eye on UK retail sales data for December at 09:30 GMT.
Economist preview a 3.0 percent annual increase, but a 0.6 percent decline on
monthly basis.
<<< Next
in the United States >>>
The only relevant
reports will be consumer expectations and consumer sentiment for January by
Michigan University, scheduled at 15:00 GMT, with 90.6 and 97.0 points seen
respectively.
<<< Asian
Stock Indexes at 07:30 GMT >>>
Australia ASX
S&P -11.10 -0.18% 6,119.30
Shanghai
Composite +13.11 +0.38% 3,487.86
Hong
Kong Hang Seng +2.59 +0.01% 32,124.53
Japan
Nikkei 225 +44.69 +0.19% 23,808.06
Taiwan
TSEC 50 Index +79.28 +0.72% 11,150.85
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