MARKETS ASIA/Recession worries weigh on stock exchanges

taketonews

TOKYO/SHANGHAI (Dow Jones)–A negative sign dominates the stock markets in East Asia and Australia midweek. Traders speak of recession concerns that have flared up again. Many investors also wanted to await the US manufacturing PMIs and minutes of the most recent US Federal Reserve meeting, which are due out on Wednesday well after the Asian markets close. In addition, the official US employment market report is due to be published on Friday.

In Tokyo, the Nikkei 225 index is down 1.1 percent. In Shanghai, the composite index is down 1.3 percent, while Hong Kong’s Hang Seng index is down 1.4 percent. On the stock exchange in Seoul, South Korea, the Kospi is down 1.3 percent. The Australian stock market is faring relatively well, with the S&P ASX 200 down 0.4 percent. Here, price gains in the banking sector prevent a clearer minus.

Energy stocks have been under pressure across the region after fears of weakening demand due to the recession caused oil prices to tumble on Tuesday. On the Tokyo stock exchange, Inpex slumped by 9.2 percent. The shares of the trading houses Mitsubishi and Mitsu, which trade in energy and raw materials, lost 5.2 and 6.1 percent, respectively. In Sydney, Woodside is down 6.2 percent and Santos is down 5.4 percent. CNOOC is giving up 5.6 percent in Hong Kong and S-Oil in Seoul 7.3 percent.

In the Japanese pharmaceutical sector, meanwhile, Eisai gain 7.2 percent. The US Food and Drug Administration will review the company’s Alzheimer’s drug lecanemab in an accelerated review process.

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Index (stock market) last +/- % % YTD end

S&P/ASX 200 (Sydney) 6,604.70 -0.4% -11.3% 08:00

Nikkei-225 (Tokyo) 26,119.88 -1.1% -9.2% 08:00

Kospi (Seoul) 2,312.49 -1.3% -22.3% 08:00

Shanghai Comp. 3,358.53 -1.3% -7.7% 09:00

Hang Seng (Hongk.) 21,554.32 -1.4% -6.7% 10:00

Straits-Times (Sing.) 3,100.54 -0.1% -0.2% 11:00

KLCI (Malaysia) 1,425.73 -1.0% -8.3% 11:00

FOREX last +/- % 00:00 Tue, 9:15 % YTD

EUR/USD 1.0250 -0.1% 1.0265 1.0396 -9.9%

EUR/JPY 138.83 -0.5% 139.46 141.64 +6.1%

EUR/GBP 0.8581 -0.1% 0.8587 0.8612 +2.1%

GBP/USD 1.1947 -0.1% 1.1955 1.2077 -11.7%

USD/JPY 135.41 -0.3% 135.85 136.16 +17.6%

USD/KRW 1,306.89 -0.1% 1,308.53 1,302.45 +9.9%

USD/CNY 6.7045 -0.2% 6.7199 6.6983 +5.5%

USD/CNH 6.7096 -0.1% 6.7135 6.6993 +5.6%

USD/HKD 7.8473 +0.0% 7.8469 7.8466 +0.7%

AUD/USD 0.6796 -0.0% 0.6797 0.6827 -6.4%

NZD/USD 0.6159 -0.2% 0.6170 0.6184 -9.8%

Bitcoin

BTC/USD 20,145.05 -0.9% 20,332.23 20,248.28 -56.4%

ROHOEL last VT-Settl. +/- % +/- USD % YTD

WTI/Nymex 99.98 99.50 +0.5% 0.48 +38.5%

Brent/ICE 103.86 102.77 +1.1% 1.09 +38.7%

METALS last day before +/- % +/- USD % YTD

Gold (Spot) 1,767.87 1,764.87 +0.2% +3.00 -3.4%

Silver (Spot) 19.15 19.22 -0.4% -0.07 -17.9%

Platinum (Spot) 863.46 868.85 -0.6% -5.39 -11.0%

Copper Future 3.39 3.43 -1.1% -0.04 -23.8%

YTD at the close of the day

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DJG/DJN/cln/kla

(END) Dow Jones Newswires

July 06, 2022 00:41 ET (04:41 GMT)

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