Saturday, January 28, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home News World News

Asian markets plunge after Wall St battering

AFPbyAFP
May 19, 2022, 11:37 am
in World News
Reading Time: 3 mins read
A A
Share on FacebookShare on TwitterShare on Email

Asian markets posted big early losses Thursday, after Wall Street suffered one of its worst batterings in two years in the previous session.

Downcast earnings reports from retailers had exacerbated worries about consumer resilience and corporate profitability Wednesday, sparking a rough day’s trade.

On Thursday morning, Hong Kong was down by more than three percent, while Tokyo was down by about 2.5 percent.

Among the biggest losers in Hong Kong was Chinese tech giant Tencent, whose stocks fell more than eight percent on lacklustre first-quarter results.

Elsewhere in the region, Australia posted its lowest jobless rate in 48 years, in a potential boost to Prime Minister Scott Morrison two days ahead of tightly contested federal elections.

ADVERTISEMENT

The unemployment rate dipped to 3.9 percent, the official statistics body said, the lowest rate since 1974.

But stocks in Sydney were still down, as were those in Singapore, Shanghai, Seoul and Taipei, though Jakarta was up by more than two percent.

Stephen Innes at SPI Asset Management called Wednesday’s losses “the most significant daily decline since June 2020”.

“The weakness came as Target’s quarterly earnings added fuel to the recession risk narrative,” he added.

Target, the North American-focused big-box retailer, plunged around 25 percent after earnings missed expectations despite higher sales.

The company pointed to the hit from higher operating costs in results that echoed those of bigger rival Walmart.

The retailers said profits were under pressure and some consumers were avoiding discretionary purchases as prices for food, gasoline and other household staples rise.

All three major US indices dove, with the Dow sinking more than 1,150 points or 3.6 percent, and the Nasdaq plunging 4.7 percent.

European bourses were also down.

“The big falls in shares of these retails… highlights the damage inflation is inflicting on the sector’s profit margins,” said Fawad Razaqzada at City Index.

“What’s more, consumers are getting squeezed as well and if they now start to cut back on spending then retailers could suffer even further,” he added.

In some of his most hawkish remarks to date, Federal Reserve Chair Jerome Powell said Tuesday that the US central bank would raise interest rates until there is “clear and convincing” evidence that inflation is in retreat. 

— Bloomberg News contributed to this report —

– Key figures at around 0215 GMT –

Hong Kong – Hang Seng Index: DOWN 3.07 percent at 20,009.68 

Shanghai – Composite: DOWN 0.89 percent at 3,058.44 

Tokyo – Nikkei 225: DOWN 2.63 percent at 26,202.70 (break)

Brent North Sea crude: UP 1.08 percent at $110.19 per barrel

West Texas Intermediate: UP 0.62 percent at $110.21 per barrel

Euro/dollar: DOWN at $1.0487 from $1.0533

Pound/dollar: DOWN at $1.2349 from $1.2476

Euro/pound: UP at 84.93 pence from 84.43 pence

Dollar/yen: DOWN at 128.54 yen from 129.18 yen

New York – Dow: DOWN 3.6 percent at 31,490.07 (close)

London – FTSE 100: DOWN 1.1 percent at 7,438.09 (close)

Tags: Asian marketsmarkettradeWall Street
ADVERTISEMENT
AFP

AFP

Related Posts

‘Cali shooter admits guilt, mentally ill’

byAFP
January 27, 2023, 6:25 pm
0
8
‘Cali shooter admits guilt, mentally ill’

Los Angeles—The man accused of killing seven fellow farmworkers in California told a US reporter Thursday that he was guilty...

Read more

Spain port reels after man kills 1, hurts 1 at church

byAFP
January 27, 2023, 6:20 pm
0
8
Taliban govt resumes issuing Afghan passports in Kabul

Algeciras, Spain—The city of Algeciras was united in mourning Thursday, a day after a machete-wielding man stormed two churches, killing...

Read more

German parliament spotlights Nazis’ LGBTQ victims

byAFP
January 27, 2023, 6:15 pm
0
8
Taliban govt resumes issuing Afghan passports in Kabul

Berlin—The German parliament will for the first time on Friday focus its annual Holocaust memorial commemorations on people persecuted and...

Read more

Ex-paratrooper set to sweep
Czech prexy vote vs. ex-PM

byAFP
January 27, 2023, 6:10 pm
0
8
Taliban govt resumes issuing Afghan passports in Kabul

Prague—Retired NATO general Petr Pavel looks a clear favourite to beat billionaire former prime minister Andrej Babis in the Czech...

Read more

Tough new rules for Myanmar political parties

byAFP
January 27, 2023, 6:05 pm
0
8
Taliban govt resumes issuing Afghan passports in Kabul

Yangon -- Myanmar’s junta on Friday gave political parties two months to re-register under a strict new electoral law written...

Read more

Thai ruling party names deputy PM as main poll bet

byAFP
January 27, 2023, 6:00 pm
0
8
Taliban govt resumes issuing Afghan passports in Kabul

Bangkok—Thailand’s ruling party on Friday named Deputy Prime Minister Prawit Wongsuwan as its candidate to be premier in the kingdom’s...

Read more

Print Edition

View More

Recent Posts

  • SEARCA supports digitizing access to agricultural supply
  • Crosta Pizzeria co-owner shares her brand of leadership
  • Globe holds assisted SIM registration in 30 Puregold branches across PH
  • InLife Sheroes #InAko campaign wins 3 Canopus Awards in 2022 Vega Digital Awards
  • #PursueYourGIGIL: GIGIL Agency creatives by day, musicians by night launch album
  • Shopee, DLSU team up to educate future tech talents on e-commerce industry
  • Get your special someone an early Valentine’s gift this Infinix Payday Sale on Shopee and Lazada
  • Philippine halal-certified food products set to steal the spotlight at Gulfood 2023

Advertisement

Latest News

Shopee, DLSU team up to educate future tech talents on e-commerce industry

byMST Tech
January 28, 2023, 3:38 pm
0
8
Shopee, DLSU team up to educate future tech talents on e-commerce industry

The Philippines e-commerce industry continues to grow rapidly and is poised to reach a Gross Market Value of $22B by...

Read more

Get your special someone an early Valentine’s gift this Infinix Payday Sale on Shopee and Lazada

byMST Tech
January 28, 2023, 3:34 pm
0
8
Get your special someone an early Valentine’s gift this Infinix Payday Sale on Shopee and Lazada

This coming month of hearts, Infinix offers its much-loved smartphones and laptops at more affordable prices!  Get up to 15%...

Read more

Philippine halal-certified food products set to steal the spotlight at Gulfood 2023

byManila Standard
January 28, 2023, 12:31 pm
0
8
Philippine halal-certified food products set to steal the spotlight at Gulfood 2023

A delegation of 18 Philippine companies will showcase premium halal-certified food products through a country exhibit at the Gulf Food...

Read more

Blackwater banks on Glover to edge Phoenix

byManila Standard Sports
January 28, 2023, 11:15 am
0
8
Blackwater banks on Glover to edge Phoenix

By Peter Atencio Returning import  Shaun Glover propelled the Blackwater Elite Bossings past Phoenix Super LPG, 108-105, for their first...

Read more

Sneakers for Makati : AB4.0

byManila Standard
January 28, 2023, 2:10 am
0
288
Sneakers for Makati : AB4.0

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App