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    Home»Business»Asia-Pacific markets mostly higher as China relaxes some virus rules
    Business

    Asia-Pacific markets mostly higher as China relaxes some virus rules

    Todd LivingstonBy Todd LivingstonDecember 5, 2022No Comments2 Mins Read
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    Japan + 0.15%. Japan data – Jibun Bank PMI Services for November, last at 50.3 (previously 53.2).

    China +1.49%. China Caixin Services PMI for November 46.7 (previously 48.4).

    Hong Kong + 3.40%.

    Australia + 0.33%. Australia’s monthly inflation rate. Headline +1% m/m and Kore +0.7% m/m.

    Australia Q3 Inventories 1.7% q/q (est 1.0%, advance 0.3%).

    Australia’s S&P / Markit Services PMI for November remains flat at 47.6 (previously 47.2).

    Australia’s construction sector PMI rises in November but remains subdued at 48.2.

    The RBA is expected to raise the Australian dollar by 25bp on Tuesday – a policy preview

    India -0.26%.

    In the US on Friday, stocks fell after a strong jobs report but later markets refocused on the possibility of a Fed hike, with major indexes closing slightly lower. The Dow Jones Industrial Average closed down just 34.87 points, or 0.1%, to 34,429.88 points after hitting a 350-point low. The S&P 500 fell 0.1% to 4,071.70, recovering an earlier loss of 1.2%. The Nasdaq Composite also made room to settle down about 0.2% at 11,461.50 points. The tech-heavy index fell as much as 1.6% earlier in the day.

    Oil prices rose 2% on Monday after OPEC+ countries kept their bid to avoid the European Union ban and Russia’s price cut.

    At the same time, in a positive sign for oil demand, many Chinese cities have reduced Covid-19 over the weekend.

    Brent crude futures rose $1.84, or 2.2%, to $87.41 a barrel at 0142 GMT, while US West Texas Intermediate (WTI) crude futures gained $1.64, or 2%, to $81.62 a barrel.

    Gold prices rose on Monday and rose near the key $1,800-level, as a weak US dollar made bullion worth the greenback cheaper for buyers with other currencies.

    Spot gold rose 0.1% to $1,800.02 an hour as of 0027 GMT. Prices have risen sharply since Aug. 10 at $1,804.46 in the previous quarter.

    US gold futures were up 0.2% at $1,812.60.

    Spot silver gained 0.5% to $23.25, platinum rose 0.8% to $1,022.74 and palladium rose 0.5% to $1,908.32.

    The future of the US is down. Dow Jones -0.12%; S&P 500 -0.17%; Nasdaq -0.19%.

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    Todd Livingston

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