Asia stocks mixed after Wall St slips, China travel curbs

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A pistillate walks past a bank's physics committee showing the Hong Kong stock scale astatine Hong Kong Stock Exchange successful Hong Kong Monday, Oct. 25, 2021. Asian banal markets were mixed Monday aft Wall Street slipped and China tightened question controls successful immoderate areas successful effect to coronavirus infections. (AP Photo/Vincent Yu)

BEIJING – Asian banal markets were mixed Monday aft Wall Street slipped and China tightened question controls successful immoderate areas successful effect to coronavirus infections.

Shanghai, Hong Kong and Sydney precocious portion Tokyo declined.

Wall Street’s S&P 500 scale declined 0.1% connected Friday, weighed down by losses for tech companies aft a seven-day streak of gains.

In China, Gansu state successful the northwest closed tourer sites Monday aft coronavirus cases were recovered and the capital, Beijing, banned visitors from areas with infections successful the past 14 days. China has reported lone a fewer twelve cases, but Beijing’s effect of curbing question prompted interest that they mightiness measurement connected economical enactment that already is weakening.

“One whitethorn expect assertive measures to power microorganism spreads, which whitethorn enactment a headdress connected growth,” said Yeap Jun Rong of IG successful a report.

The Shanghai Composite Index roseate 0.3% to 3,594.32 portion the Nikkei 225 successful Tokyo mislaid 1% to 28,520.35. The Hang Seng successful Hong Kong added 0.1% to 26,157.11.

The Kospi successful Seoul precocious 0.2% to 3,013.13 and Sydney’s S&P-ASX 200 gained 0.4% to 7,444.00.

New Zealand, Singapore and Jakarta declined.

On Wall Street, the S&P 500 ended astatine 4,544.90 connected Friday aft losses for large tech companies aft a time of choppy trading.

The Dow Jones Industrial Average gained 0.2% to 35,677.02, exceeding its Aug. 15 high. The Nasdaq composite slid 0.8% to 15,090.20.

Some 65% of stocks successful the S&P 500 closed higher, led chiefly by fiscal and wellness attraction companies, but losses successful connection and exertion companies held the S&P 500 down. Chipmaker Intel slumped 11.7% aft reporting disappointing revenue.

Snapchat’s genitor company, Snap, plunged 26.6% aft reporting anemic gross and disclosing that its advertisement income are being wounded by a privateness crackdown that rolled retired connected Apple’s iPhones earlier this year. Facebook fell 5.1% and Twitter mislaid 4.8%. Google’s parent, Alphabet, declined 3%.

The 3 large indexes station their 3rd play summation aft investors were encouraged by mostly coagulated firm results.

Also Friday, Federal Reserve Chair Jerome Powell said concern proviso concatenation problems person gotten worse and volition apt support ostentation elevated good into adjacent year.

Investors are looking for clues arsenic to however companies are navigating proviso concatenation problems and rising costs for materials, proscription and different goods and services. Many companies person warned higher costs volition wounded operations.

Powell besides said the Fed isn’t prepared to assistance its benchmark involvement complaint from adjacent zero. But helium suggested the system mightiness beryllium acceptable fo ra complaint hike adjacent year.

In vigor markets, benchmark U.S. crude roseate 95 cents to $84.71 per tube successful physics trading connected the New York Mercantile Exchange. The declaration roseate $1.26 to $83.76 connected Friday. Brent crude, utilized arsenic the terms ground for planetary oils, mislaid 4 cents to $85.49 per tube successful London. It roseate 92 cents the erstwhile league to $85.53.

The dollar gained to 113.75 yen from Friday’s 113.44 yen. The euro roseate to $1.1661 from $1.1637.

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