Current:Home > reviewsStock market today: Asian shares trade mixed after Wall Street closes near record finish -Prosperity Pathways
Stock market today: Asian shares trade mixed after Wall Street closes near record finish
View
Date:2025-04-12 21:51:26
TOKYO (AP) — Asian shares were trading mixed on Monday, as investors awaited further indications the Federal Reserve might begin cutting interest rates.
Japan’s Nikkei 225 shed 1.2% to 40,414.12, as investors sold shares to lock in profits after the benchmark recently hit record highs.
Hong Kong’s Hang Seng climbed 0.2% to 16,535.89, while the Shanghai Composite gained 0.3% to 3,056.52.
The Chinese yuan, or renminbi, fell to a four-month low of 7.2282 to the U.S. dollar.
Australia’s S&P/ASX 200 rose 0.5% to 7,811.90. South Korea’s Kospi lost 0.2% to 2,743.04.
A top Japanese finance official expressed reservations about the recent surge in the U.S. dollar against the Japanese yen, fueling speculation about possible intervention in the market. The dollar has risen to nearly 152 yen, a jump from slightly above 130 yen a year ago. It was trading at 151.23 yen on Monday, down from 151.41 yen. The euro cost $1.0818, up from $1.0810.
The Bank of Japan raised a key interest rate for the first time in 17 years last week, to barely above zero from below zero, or negative interest rates. That means borrowing rates in Japan still remain below those of the U.S. and many other nations.
“The recent Bank of Japan meeting added another layer of complexity to the dollar’s trajectory. Despite the BOJ’s decision to hike rates, cautious communication failed to stimulate demand for the Japanese yen,” said Luca Santos, currency analyst ACY Securities.
On Friday, the S&P 500 slipped 0.1% from an all-time high to close at 5,234.18. The Dow Jones Industrial Average fell 0.8% to 39,475.90 and the Nasdaq composite rose 0.2% to 16,428.82, adding to its record.
In the bond market, U.S. Treasury yields pulled back. The yield on the 10-year Treasury fell to 4.21% from 4.27% late Thursday.
The U.S. Federal Reserve has indicated it may deliver three cuts to interest rates this year, as long as inflation keeps cooling. The Fed’s main interest rate is at its highest level since 2001.
In energy trading, benchmark U.S. crude added 51 cents to $81.14 a barrel. Brent crude, the international standard, rose 50 cents to $85.93 a barrel.
veryGood! (72217)
Related
- Nearly half of US teens are online ‘constantly,’ Pew report finds
- Nevada's Washoe County votes against certifying recount results of 2 local primaries
- BMW recalling more than 390,000 vehicles due to airbag inflator issue
- Beat the Heat With These Cooling Beauty Products From Skin Gym, Peter Thomas Roth, Coola, and More
- FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
- Beat the Heat With These Cooling Beauty Products From Skin Gym, Peter Thomas Roth, Coola, and More
- Orioles' Jordan Westburg, Reds' Hunter Greene named MLB All-Stars as injury replacements
- 5 boaters found clinging to a cooler in Lake Erie are rescued by a Coast Guard helicopter crew
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Police investigate shooting of 3 people in commuter rail parking lot in Massachusetts
Ranking
- FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
- Chicago woman gets 58-year prison term for killing and dismembering her landlord
- Lindsay Hubbard Defends Boyfriend's Privacy Amid Rumors About His Identity
- A gunman killed at a Yellowstone dining facility earlier told a woman he planned a mass shooting
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Hi Hi!
- John Corbett regrets becoming an actor, says it's 'unfulfilling' and 'boring'
- Missing Michigan mother and baby found walking barefoot at Texas ranch
- Clippers star Kawhi Leonard withdraws from US Olympic basketball team
Recommendation
All That You Wanted to Know About She’s All That
Cheetos fingers and red wine spills are ruining couches. How to cushion your investment.
American mountaineer William Stampfl found mummified 22 years after he vanished in Peru
Seeking carbon-free power, Virginia utility considers small nuclear reactors
Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
Argentina trolls Drake with Kendrick Lamar's 'Not Like Us' diss for $300K bet against them
What's the best temperature to set your AC on during a summer heat wave?
New Mexico village ravaged by wildfire gets another pounding by floodwaters