Nikkei, Topix and Co. Asian stock exchanges lag behind Wall Street’s recovery

Nikkei, Topix and Co. Asian stock exchanges lag behind Wall Street’s recovery

Nikkei, Topix and Co. Asian stock exchanges lag behind Wall Street's recovery
Investors in Asia are in a better mood again Source: dpa

The Asian exchanges on Monday cannot keep up with the recovery of the markets in and Europe on Friday. The virus variant Omikron continued to give investors cause for concern: The corona mutant has so far been confirmed in around a third of the US states. Investors will therefore continue to focus on the US Federal Reserve: The next week’s consumer price data could speak in favor of curbing bond purchases at an early stage.

“We believe the economy is looking much closer to full employment than previously thought,” said Michael Gapen, Barclays economist. “We therefore expect accelerated tapering at the December meeting, followed by the first rate hike in March. We continue to expect three rate hikes of 25 basis points in 2022. “

The Nikkei index, which comprises 225 values, was 0.4 percent lower at 27,922 points. The broader Topix index fell 0.4 percent and stood at 1949 points. The Shanghai Stock Exchange was up 0.4 percent. The index of the most important companies in Shanghai and Shenzen gained 0.6 percent.

In Asian foreign exchange trading, the dollar gained 0.2 percent to 112.98 yen and was down 0.1 percent to 6.3686 yuan. In relation to the Swiss currency, it was quoted 0.3 percent higher at 0.9202 francs. At the same time, the euro fell 0.2 percent to 1.1292 dollars and rose 0.1 percent to 1.0393 francs. The pound sterling stagnated at $ 1.3235.

: Omikron and inflation: Uncertainty in the markets will continue for the coming week