Nixse
0

Bank of Japan’s Decision Affected Stocks in Asia-Pacific

Stocks in Asia-Pacific declined on Thursday as the Bank of Japan decided not to change its monetary policy. 

In Japan, the Nikkei 225 dropped 0.96% to end its trading day at 28,820.99. The Topix index fell 0.7% to 1,999.66. Retail sales in the country declined 0.6% from a year earlier, according to data released on Thursday.

The country’s central decided to keep interest rate targets unchanged. The Bank of Japan reduced its real gross domestic product (GDP) growth outlook and consumer inflation forecasts for fiscal 2021.

Mainland Chinese stocks also suffered losses on Thursday. The Shanghai composite fell 1.23% to finish its trading day at 3,518.42. The Shenzhen component dropped 1.033% to close at 14,244.82.

In Hong Kong, the Hang Seng index fell 0.28% to close at 25,555.73.

In Australia, the S&P/ASX 200 shed 0.25% to 7,430.40. South Korea’s Kospi dropped 0.53% to 3,099.55. 

 

U.S. stocks on Wednesday 

U.S. stocks fell one day earlier on Wednesday. The S&P 500 declined from a record high as the momentum created by the strong earnings season started to decline.  

The Dow Jones Industrial Average fell 266.19 points to 35,490.69. The Dow Jones declined for the first time in four days, dragged down by Visa. The S&P 500 declined 0.5% to 4,551.68, for its first down day in three. The Nasdaq Composite was flat on Wednesday. It closed at 15,235.84. The Nasdaq Composite was flat despite a jump in Microsoft as well as Alphabet shares.

Shares of Microsoft jumped 4.2% after Microsoft reported earnings that surpassed expectations and the fastest revenue growth since 2018. Google’s parent company Alphabet gained 4.9% following a stronger-than-expected quarterly report.

Visa’s stock plunged 6.9% on Wednesday. Its stock declined after it issued a revenue outlook that some analysts considered conservative. Besides, the Justice Department is investigating the company’s relationship with financial-technology firms, accordion to sources familiar with the matter. 

Shares of General Motors dropped 5.4% even after the GM surpassed Wall Street’s earnings and revenue estimates for the third quarter. Boeing’s stock fell 1.5% after the company posted a wider-than-expected loss.

Robinhood’s shares dropped 10.4% the day after it reported revenue well below expectations due to weakness in crypto trading. Shares of Twitter fell 10.7% on concerns about the expense guidance, despite strong earnings. 

Enphase Energy jumped 24.6% after reporting record revenue in the face of supply chain headwinds.  

Coca-Cola gained 1.9% after the company posted a beat on the top and bottom lines and raised its outlook.

  • Support
  • Platform
  • Spread
  • Trading Instrument
Comments Rating 0 (0 reviews)


You might also like

Leave a Reply

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spread
    Sending
  • Trading Instrument
    Sending