Reported 4 months ago
Asian shares traded mixed as investors evaluated recent data showing a slowing U.S. economy. Japan's Nikkei 225 dropped 1.0%, Australia's S&P/ASX 200 rose 0.3%, South Korea's Kospi surged 1.2%, Hong Kong's Hang Seng increased 1.2%, and the Shanghai Composite dipped slightly. Analysts noted that Japan's wage growth data may prompt the Bank of Japan to raise interest rates. Wall Street hopes for a slowdown to control inflation, while bond yields fell after a report revealed fewer job openings. Concerns about a contracting U.S. manufacturing sector have affected oil prices and led to losses in oil-and-gas stocks. The Russell 2000 index and cyclically sensitive companies experienced declines, while dividend-paying stocks and certain Big Tech stocks posted gains.
Source: YAHOO