Falling Nasdaq, Japanese inflation, oil prices

Date:

Singapore — Asia Pacific markets fell on Friday and tracked the decline overnight on Wall Street. Meanwhile, oil prices fell from their 2014 highs at the beginning of the week, down about 2%.

Japanese Nikkei 225 It decreased by 1.8%, a slight step back from the previous 2 decrease. Topix decreased by 1.47%. Automobile and tech stocks fell altogether, but held back some losses. Toyota Almost 3% decrease, Mazda 4.2% lower Mitsubishi It fell by more than 4%.

In high-tech stocks Sony Almost 3% decrease, Softbank It decreased by 1.45%.

Japan’s inflation data released Friday showed that core consumer prices rose 0.5% year-on-year in December due to higher fuel and raw material costs, according to Reuters. This increase was the fastest pace in almost two years, for the second straight month, according to Reuters.

Australian ASX 200 It decreased by 1.66% due to the decrease in major miners and banks. In South Korea Kospi It decreased by 0.7%. Taiwan’s Taiex fell 1%.

Elsewhere Singapore’s first SPAC, Vertex Technology Acquisition Corporation debuted Thursday afternoon, eliciting a keen response from investors with a retail tranche of 600,000 units with 36 subscriptions. The stock price rose 1% from the asking price.

On Wall Street Stocks fell.. The Nasdaq Composite index rose 2.1% earlier in the day and then fell 1.3% to end the session at 14,154.02. This puts the index further in the correction zone, more than 10% below the November record.

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The Dow Jones Industrial Average fell 313.26 points to 34,715.39 on Thursday, falling below the 200-day moving average for the first time since December 2021. The S & P 500 fell 1.1% to 4,482.73, falling below 4,500 for the first time since October 2021.

Currency and oil

Oil prices fell on Thursday After a surge to its highest since 2014 on Wednesday as supply concerns have eased.

ANZ Research analysts Brian Martin and Daniel Hines said in a Friday memo that “the rise in oil has stopped after a modest increase in US oil reserves.”

“Nevertheless, demand remains strong … price suspensions were also triggered by reports that the United States plans to accelerate the release of strategic stockpiles, but this is global. The ongoing supply constraints will overshadow them, “they said.

Oil prices continued to fall on Friday morning during Asian time. US crude oil fell 2.2% to $ 83.68 per barrel and Brent fell 1.8% to $ 86.72.

In currency, US dollar indexTracked a greenback against a basket of peers and rose to 95.813, up from previous levels above 95.6.

The Japanese yen It traded at 113.80 per dollar and continues to strengthen from levels above 114. Australian dollar It was $ 0.7194, down from the previous level of around $ 0.72.

— CNBC’s Abigail Ng contributed to this report.

Falling Nasdaq, Japanese inflation, oil prices

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