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Asian shares gain as BOJ defends but oil price fall for Shanghai lockdown
On Tuesday, Japanese stocks led advances in Asian stocks as the Bank of Japan defended its ultra-easy monetary policy, while oil fell on expectations of decreased demand from China as Shanghai implemented a "zero-COVID" approach by shutting down despite a small caseload.
In early trading, Japan's Nikkei 225 surged 0.91 percent, while MSCI's broadest index of Asia-Pacific equities outside Japan rose 0.64 percent.
The Bank of Japan (BOJ) promised to keep monetary policy ultra-loose, willing to buy government bonds indefinitely.
Wall Street recovers from a midday fall to finish higher
Despite persistent concerns about the global economy's endurance amid growing inflation and geopolitical tensions, stock indexes on Wall Street recovered from a midday slide to finish higher Monday, adding to the market's recent winning run.
After falling as low as 0.6 percent, the S&P 500 gained 0.7 percent. After being in the red for much of the day, the Dow Jones Industrial Average managed a 0.3 percent gain, while the Nasdaq composite rose from a 0.5 percent deficit to close 1.3 percent ahead. The indices had been up for two weeks in a row.
S&P/TSX composite index is down to start the week due to oil and materials losses
A decline in the oil and resources industries, sparked by a COVID lockdown in China's financial capital, pushed Canada's main stock index lower to begin the fourth quarter's final trading week.
"After two weeks of increasing markets, the market is certainly due for a breather," said Vincent Tonietto, portfolio manager at Fiduciary Trust Canada.
After touching an intraday low of 21,871.62, the S&P/TSX composite index fell 28.11 points to 21,977.83.
The Dow Jones industrial average was up 94.65 points at 34,955.89 in New York. The S&P 500 index was 32.46 points higher at 4,575.52, while the Nasdaq composite was 185.60 points higher at 14,354.90.
Asian stocks drop after the United States vows to impose more sanctions on Russia
Asian financial markets tumbled on Friday as Western nations threatened fresh sanctions against Russia, and President Vladimir Putin attempted to shore up the ruble by threatening to force Europe to pay for gas exports in rubles.
Shanghai, Tokyo, Hong Kong, and Sydney all saw a drop in business. Oil prices remained stable, at about $110 per barrel.
The S&P 500 index gained 1.4 percent after the number of Americans filing for jobless benefits fell to a 52-year low.
Asian stocks rise as investors focus on Ukraine, inflation, and energy costs
Tuesday, Asian stocks were generally higher as investors focused on the Ukraine conflict, inflationary threats, and rising energy prices.
In the morning, benchmarks increased in Japan, South Korea, Australia, and Hong Kong, but fell in Shanghai.
Concerns over energy supply for Europe, rising prices, and progress toward economic recovery from the epidemic are being exacerbated by Russia's war on Ukraine and Western sanctions against Russia.
