Asian markets have mixed
Overnight, Wall Street looked for the winners in an inflationary environment and as a result, loaded on the Dow Jones at the expense of the Nasdaq, mostly on the premise that the Fed inflation chase will resume while the global recovery will dismiss omicron. The S&P 500 was virtually unchanged at -0.06%, but the Nasdaq fell 1.33%, while the Dow Jones added 0.58%. In Asia, all three indices retreated, down 0.25%. A fire at the world’s most critical semiconductor manufacturer, Dutch company ASML, could weigh on sentiment.
Extreme ultraviolet lithography systems aside, Asian markets have dispersed in about the same direction as New York City today. The Nikkei 225 is unchanged, reversing earlier losses, but the South Korean Kospi is 1.30% lower and Taipei is down 0.35%. The ASML fire may be heavier on the latter two.
Chinese markets are also shrinking due to pre-Chinese New Year financial fears, Chinese property developers, U.S. listed technology groups and Huarong with no signs of the PBOC that it intends to alleviate the financial crisis as it keeps money tight on a daily basis. repo. The Shanghai Composite is down 0.85% and the CSI 300 is down 0.65%. Hong Kong is down 0.75% today.
In ASEAN, however, Singapore fell 0.25%, but Kuala Lumpur is 0.20% higher and Bangkok is up 0.30%, with Jakarta and Manila unchanged. Most exchanges returned intraday gains. Australian markets are lower after jumping the gun on the stock market earlier this week with some stellar gains so far. The relaxation of the S&P 500 and Nasdaq overnight and today has caused some profit down. The ASX 200 and All Ordinaries are 0.35% lower.
Europe is likely to find gains hard to come by at first with Asia’s mixed momentum declining and turning to a more generally cautious note. If the fire damage at ASML’s Berlin factory is minimal, that might be enough to push the bulls back because no one likes the thought of a long lack of semiconductors.