Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, May 4, 2021. Asian shares were mixed Tuesday after strong corporate earnings and economic data lifted stocks on Wall Street.
Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, May 4, 2021. Asian shares were mixed Tuesday after strong corporate earnings and economic data lifted stocks on Wall Street.
A currency trader passes by screens showing foreign exchange rates at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, May 4, 2021. Asian shares were mixed Tuesday after strong corporate earnings and economic data lifted stocks on Wall Street.
Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, May 4, 2021. Asian shares were mixed Tuesday after strong corporate earnings and economic data lifted stocks on Wall Street.
FILE – In this Jan. 27, 2021 file photo, pedestrians pass the New York Stock Exchange in New York. Stocks were solidly lower in early trading Tuesday, May 4, dragged down by banks and big technology companies like Apple and Google.
BEIJING (AP) — Major Asian stock markets advanced Wednesday after Wall Street fell, while Chinese and Japanese markets were closed for holidays.
Overnight, Wall Street’s benchmark S&P 500 index lost 0.7%, dragged down by more declines for tech stocks including Apple and Microsoft.
The Hang Seng in Hong Kong was little changed at 28,561.70 while the S&P-ASX 200 in Sydney added 0.4% to 48,453.94.
New Zealand’s benchmark lost 1.1%, Singapore was down 0.8% and Bangkok fell 0.7%.
“With relatively light news flow and macro data, price action in the region was subdued in holiday-thinned conditions,” Anderson Alves of ActivTrades said in a report.
Investors are watching corporate earnings and looking ahead to Friday’s U.S. jobs data.
Most economic data point to improving conditions but markets worry about renewed coronavirus outbreaks and a possible uptick in inflation.
Remarks by Treasury Secretary Janet Yellen on Tuesday appeared to stoke those worries. Selling on Wall Street accelerated after Yellen said interest rates may have to rise to keep the economy from overheating. She later downplayed her comments during an interview with The Wall Street Journal after markets closed.
On Monday, Federal Reserve Chairman Jerome Powell said the economic outlook has “clearly brightened” in the United States but the recovery is uneven.
About the Author
