Current:Home > InvestStock market today: Asian shares mostly decline, while Tokyo again touches a record high-InfoLens
Stock market today: Asian shares mostly decline, while Tokyo again touches a record high
View Date:2024-12-23 21:15:10
TOKYO (AP) — Asian shares mostly declined Monday, although Tokyo’s benchmark Nikkei 225 index touched another record high in morning trading.
The Nikkei 225 gained 0.5% to 39,309.76. Trading was closed in Tokyo for a holiday on Friday. The benchmark surged to an all-time high on Thursday.
In currency trading, the dollar edged up to 150.49 Japanese yen from 150.47 yen. The euro cost $1.0818, down from $1.0823.
The weakness of the yen is one factor attracting many foreign investors to Japanese shares, said Stephen Innes of SPI Asset Management.
He said investors were selling to lock in profits from recent gains in Chinese markets, which have rallied slightly after a months-long slump.
Hong Kong’s Hang Seng dipped 0.7% to 16,606.31, while the Shanghai Composite dropped 0.7% to 2,984.74.
Elsewhere in Asia, Australia’s S&P/ASX 200 was little changed, inching down less than 0.1% to 7,641.50. South Korea’s Kospi slipped 0.8% to 2,647.34.
On Friday, Wall Street finished the week with a record high, mostly on the back of a strong technology sector. But some technology company shares weakened, or stood little changed, such as Nvidia.
The S&P 500 index rose less than 0.1% to 5,088.80. That marks another record high for the benchmark index and its sixth winning week in the last seven.
Dow Jones Industrial Average rose 0.2% to 39,131.53. The Nasdaq slipped 0.3% to 15,996.82.
Earnings remain the big focus this week, as a key indicator on where the U.S. and global economies are headed. Among the U.S. companies reporting results are home improvement retailer Lowe’s, discount retailer Dollar Tree , computer maker HP and electronics retailer Best Buy.
More economic data are also upcoming on consumer sentiment, inflation and the U.S. economy. An update on the pace of growth in the United States in the October-December quarter is due on Wednesday.
The Federal Reserve has been trying to tame inflation back to its target of 2%. Previous data on consumer and wholesale prices came in hotter than Wall Street expected. Traders now expect the Fed to cut rates in June instead of March.
In energy trading, benchmark U.S. crude lost 42 cents to $76.07 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, lost 40 cents to $80.40 a barrel.
veryGood! (54637)
Related
- 'He's driving the bus': Jim Harbaugh effect paying dividends for Justin Herbert, Chargers
- Anthony's Coal Fired Pizza & Wings parent company BurgerFi files for bankruptcy
- A mystery that gripped the internet for years has been solved: Meet 'Celebrity Number Six'
- Miss Switzerland Finalist Kristina Joksimovic's Remains Allegedly Pureed in Blender by Husband
- Mechanic dies after being 'trapped' under Amazon delivery van at Florida-based center
- Utility ordered to pay $100 million for its role in Ohio bribery scheme
- Target’s Latino Heritage Month Collection Has Juan Gabriel & Rebelde Tees for $16, Plus More Latino Faves
- Gracie Abrams mobilizes 'childless cat or dog people,' cheers Chappell Roan at LA concert
- BITFII Introduce
- US consumer watchdog moves to permanently ban Navient from federal student loan servicing
Ranking
- Georgia lawmaker proposes new gun safety policies after school shooting
- Nikki Garcia Shares Official Date of Separation From Artem Chigvintsev Amid Divorce
- Alabama university ordered to pay millions in discrimination lawsuit
- WNBA and Aces file motions to dismiss Dearica Hamby’s lawsuit
- Michigan soldier’s daughter finally took a long look at his 250 WWII letters
- The seven college football games you can't miss in Week 3 includes some major rivalries
- Testimony begins in civil case claiming sexual abuse of ex-patients at Virginia children’s hospital
- Ewan McGregor and Wife Mary Elizabeth Winstead Hit Red Carpet With 4 Kids
Recommendation
-
'Climate change is real': New York parks employee killed as historic drought fuels blazes
-
Will Ferrell reflects on dressing in drag on 'SNL': 'Something I wouldn't choose to do now'
-
1 person shot during scuffle at pro-Israel rally in Boston suburb, authorities say
-
The Glossier Hot Cocoa Balm Dotcom Sold Every 5 Seconds Last Winter: Get Yours Before It Sells Out
-
Harriet Tubman posthumously named a general in Veterans Day ceremony
-
Gulf Coast residents still reeling from Hurricane Ida clean up mess left by Francine
-
Influencer Suellen Carey Divorces Herself After Becoming Exhausted During One-Year Marriage
-
Why Billie Eilish Skipped the 2024 MTV VMAs