Japanese stock markets records major falls

Lola Evans
19 Jan 2022, 18:58 GMT+10

Stocks in Asia were mixed on Wednesday.
Higher interest rates, exacerbated by a rise in inflation in the UK to a three-decade high saw sellers out in force.
Chinese markets were less impacted with the key Hong Kong index in fact managing a rise.

SYDNEY, NSW, Australia - Stocks in Asia were mixed on Wednesday. The biggest move was the Japanese market which saw its benchmark index fall nearly three percent.

Higher interest rates, exacerbated by a rise in inflation in the UK to a three-decade high saw sellers out in force in Australia and Japan.

Chinese markets were less impacted with the key Hong Kong index in fact managing a rise.

The Nikkei 225 in Toyko fared worse, shedding 790.02 points or 2.80 percent to 27,467.23.

The Australian All Ordinaries dropped 79.20 points or 1.02 percent to 7,656.60.

China's Shanghai Composite dipped 11.73 points or 0.33 percent to 3,558.18.

In Hong Kong, the Hang Seng advanced 15.07 points or 0.06 percent to 24,127.85.

The U.S. dollar held on to recent gains for the most part but gave up ground to the commodity currencies.

The euro edged down to 1.1335. The British pound weakened a tad to 1.3595. The Japanese yen inched up to 114.45. The Swiss franc was little changed at 0.9157.

The Canadian dollar rose to 1.2496. The Australian dollar strengthened to 0.7192. The New Zealand dollar rose slightly to 0.6788.

Overnight on Wall Street, the Dow Jones Industrial Average dived 543.34 points, or 1.51 percent, to 35,368.47.

The Standard and Poor's 500 gave up 85.74 points, or 1.84 percent, to 4,577.11.

The Nasdaq Composite slumped 386.86 points, or 2.6 percent, to 14,506.90.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Travel Trade.

More Information

27 ℃

Mostly Cloudy in Seletar

Business

Section

UK to investigate anti-competitive Google ad sales

LONDON, England: The UK's Competition and Markets Authority has launched its second investigation into the advertising sales practices of Google.According ...

UK to OK Shell's North Sea gas project to provide 6.5% of nation's gas

LONDON, England: UK officials are expected to approve a request by Shell Oil to develop a North Sea gas field, ...

As tourism returns, Spain's hotels raise rates 36% over 2021

MADRID, Spain: Hotels in Spain are seeing a rebound in tourism, increasing their rates by 36 percent in April over ...

Nasdaq Composite leads U.S. stocks in rally, index adds more than 3%

NEW YORK, New York - U.S. stocks raced ahead on Friday, with technology shares leading the way on signs inflation ...

Hyundai recalls vehicles in US, Canada to replace seat belt part

WASHINGTON D.C.: Due to seat-belt mechanisms that could explode and shoot out metal fragments in the event of a crash, ...

Starbucks announces closure of all outlets in Russia

SEATTLE, Washington: Following the decision of McDonald's, Seattle-based Starbucks said this week that it will exit the Russian market after ...

Airlines

Section

Movie Review

The Day the Earth Caught Fire

Day the Earth Caught Fire