Reaction to Fed, Russia, Ukraine
SINGAPORE — Asia-Pacific markets mostly traded higher on Friday, following a volatile session on Wall Street overnight where investors reacted to comments from the Federal Reserve and U.S. GDP data.
Australia’s ASX 200Advanced 1.97%
The mainland Chinese market grew: Shanghai Composite rose marginally, and Shenzhen Component rose by 0.54%.
The Hang Seng Index in Hong Kong fell by 0.84%
The MSCI’s Asia-Pacific share index outside Japan was 0.25 percent higher.
On Friday, the Taiwan market will be closed due to a holiday. The fourth quarter GDP report from Hong Kong is scheduled to be released on Friday afternoon.
SoftBank Group shares rose by 3.18% following the announcement of Marcelo Claure, Chief Operating Officer at the Japanese conglomerate. Marcelo will be leaving the company after nine-years. Claure also served as CEO of SoftBank Group International. Claure was right-hand to SoftBank boss Masayoshi Sohn. Claure took over WeWork’s management after Adam Neumann retired.
CNBC reported on Claure’s departure on Thursday,Citing sources who are familiar with this matter.
Michel Combes was appointed SoftBank Group International CEO. He will be responsible for the investment and operating portfolios of the company.
After the announcement, Apple supplier shares in Asia rose a lot. tech giant beat earnings estimatesOn Thursday, stateside
Stocks were volatile overnight on Wall StreetAs investors responded to Fed news and the latest GDP numbers, corporate earnings were also discussed.
U.S. gross domestic product grew 6.9%In the fourth quarter, 2021 saw a decrease in Omicron cases compared with the year prior. This beat analyst expectations.
Both the S&P 500 and Nasdaq retraced earlier gains to close lower, while the Dow Jones Industrial Average was up over 600 points at during intra-day trade, but closed almost flat at 34,160.78.
So far, all three indexes have been in negative territory this month.
Spot goldSlide to a two-week low of $1,790.20 on ThursdayReuters reported that after Fed signs of an imminent increase in interest rates, the U.S. currency rallied. Since then, it has rebounded and is currently trading at $1.798 in Asia.
It U.S. dollar index,This monitors the greenback’s performance against its peers and was last traded at 97.163. It is a decrease of 97.225.
— CNBC’s Saheli Roy Choudhury, Hannah Miao, Tanaya Macheel, Jeff Cox and Holly Ellyatt contributed to this report.