Markets in Asia apart from Shanghai’s were broadly higher Monday, shrugging off the blues on Wall Street after big technology stocks logged their worst week since the COVID crash in 2020.
Oil prices fell while U.S. futures advanced.
Hong Kong’s Hang Seng led the region, gaining 1.6% to 16489.08. But the Shanghai Composite index shed 0.5% to 3,050.89 after the People’s Bank of China kept its 1-year and 5-year loan prime rates unchanged.
Tokyo’s Nikkei 225 added 0.4% to 37,219.47 and the yen weakened further. The U.S. dollar rose to 154.69 yen from 154.59 yen, trading at levels not seen since 1990.
The Kospi in South Korea jumped 0.8% to 2,613.61.
Australia’s S&P/ASX 200 surged 1% to 7,640.30.
On Friday, the S&P 500 dropped 0.9% to close out its third straight losing week. It ended at 4,967.23, which is 5.5% below its record set late last month.
Alabama lawmakers approve tax breaks for businesses that help employees afford child care
Badosa shows signs of her old form in a win over Andreeva at the Italian Open
Donald Trump moves much of his White House campaign to New York
Anguish as Kenya's government demolishes houses in flood
Luis Miranda Jr. reflects on giving, the arts and his son Lin
Workers at Stellantis plant near Detroit authorize strike in dispute over health and safety issues
Prince Harry celebrates Invictus Games in London but won't see his father, King Charles III
Smart tourism development conference held in Nanjing
PGA Championship invites 7 LIV players to get top 100 in the world
Migrant camps spring up in gentrifying neighborhood with a Soho House and caviar
Michelle Yeoh shines in VERY quirky tin foil