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    Home»Business»Asia-Pacific stocks trade mixed as Japan sees core inflation at highest in 40 years
    Business

    Asia-Pacific stocks trade mixed as Japan sees core inflation at highest in 40 years

    Todd LivingstonBy Todd LivingstonNovember 18, 2022No Comments2 Mins Read
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    Japan -0.11%. Japan October headline CPI +3.7% y/y (previously +3.0%).

    China -0.19%.

    Hong Kong -0.35%.

    Australia + 0.23%.

    India -0.48%.

    Overnight on Wall Street, major US stock indexes closed down for the second day in a row. However, things could have gone much worse. The indices are closing well their intraday lows .. Dow Jones Industrial Average down -7.53 points or -0.03% at 33546.31. The S&P 500 was down -12.24 points or -0.31% at 3946.55 and the Nasdaq Composite was down -38.68 points or -0.35% at 11144.97.

    The leaders of Japan, the US, and South Korea will hold an emergency meeting on North Korea’s missile launch.

    Oil prices rose on Friday as the dollar eased but narrowed to its worst weekly loss on hopes of a U.S. interest rate cut and expectations of a lower rate of output from oil exporter China amid rising COVID-19 cases.

    Brent crude futures returned 67 cents, up 0.8% to $90.45 a barrel at 0130 GMT, but were not far from a four-week hit of $89.53 in the previous session.

    U.S. West Texas Intermediate (WTI) futures rose 70 cents, or 0.9%, to $82.34 a barrel, but were at a six-week low.

    Gold prices rose on Friday on a weaker dollar but were just shy of three weekly lows, weighed down by signs from the US central bank that interest rate hikes are coming.

    Spot gold rose 0.1% to $1,763.17 an ounce by 0303 GMT, on course for a 0.4% drop.

    US gold futures were up 0.2% at $1,765.50.

    Among other metals, silver rose 0.8% to $21.11 an ounce, platinum added 0.4% to $984.50, and palladium rose 0.7% to $2,020.21. However, they were all ready for a slow week.

    The future of the US is mixed. Dow Jones -0.21%; The value of the S&P500 -0.09%; Nasdaq +0.01%.

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    Todd Livingston

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