2023-06-21 14:04:39
(Photo: The Canadian Press)
MARKET REVIEWS. Global markets were mixed Wednesday morning, the day after a significant decline on Wall Street.
Stock market indices at 7:30 a.m.
London, Frankfurt and Paris fluctuated by just 0.1% at the start of the session in Europe, in one direction or the other.
In New York, before the markets open, the average Dow Jones industrial stocks and the S&P 500 were stable.
In Asia, the Nikkei 225 added 0.3% in Tokyo. The Shanghai stock market plunged 1.3% and the Hang Seng 2% in Hong Kong. Sydney lost 0.6% and Seoul 0.9%. The Bangkok stock exchange lost 1.1%, but the Sensex if a pris 0,3%.
On the New York Commodity Exchange, the price of oil dropped 13 US cents to US$71.06 a barrel.
The context
The Tokyo Stock Exchange closed higher on Wednesday despite the decline on Wall Street the day before in a climate of caution before the hearing of the boss of the American Central Bank (Fed) before the American Congress.
“The stock markets are in a wait-and-see attitude before the hearing (of Fed Chairman Jerome) Powell,” commented Mitsushige Akino of Ichiyoshi Asset Management, quoted by the Bloomberg agency.
Mr. Powell is due to speak later on Wednesday on the state of the US economy before the US House of Representatives, before a visit to the Senate on Thursday, the opportunity for investors to learn more about the Fed’s intentions .
However, Japanese stocks were supported by a positive climate in Tokyo, especially after the Bank of Japan maintained its ultra-accommodating monetary policy last Friday, which caused the yen to retreat, a positive factor for Japanese exporting companies.
SoftBank Group “in offensive mode”
The title of the Japanese giant of investments in new technologies SoftBank Group gained 3.67% to 6,937 yen. The CEO-founder of the group, Masayoshi Son, who has been rather discreet in recent months, spoke at length on Wednesday during SBG’s ordinary general meeting, judging that the time had come “to go into offensive mode”, a year after having judged that the economic conditions (and the heavy losses he suffered) encouraged him to “be on the defensive” when it came to investments.
The yen retreats
The dollar rose against the yen, at a rate of one dollar for 141.96 yen around 3:15 a.m. against 141.47 yen on Tuesday.
The euro also progressed to 154.94 yen against 154.45 yen on Tuesday, while remaining stable against the dollar, at 1.091 5 dollar against 1.091 8 dollar the day before.
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