Asian stocks close mixed after Wall Street’s optimism over Powell’s speech

Stock markets in Asia and the Pacific closed without a single direction on Wednesday (8), after Wall Street reacted on the eve in high to comments by the president of the Federal Reserve (Fed, the US central bank), Jerome Powell.

In Tokyo, Japan’s Nikkei index fell 0.29% to 27,606.46 points as shares in SoftBank and Nintendo fell 5.11% and 7.52% respectively after both companies reported quarterly results. disappointing.

In mainland China, the day was also negative: the Shanghai Composite fell 0.49%, to 3,232.11 points, and the less comprehensive Shenzhen Composite dropped 0.54%, to 2,141.31 points.

The losses were led by consumer goods companies and service providers, whose shares had jumped in recent weeks amid the optimism generated by the reopening of the Chinese economy with the end of the so-called “Covid zero” policy.

The Hang Seng was practically stable in Hong Kong, with a marginal low of 0.07%, at 21,283.52 points.

On the other hand, the South Korean Kospi advanced 1.30% in Seoul, to 2,483.64 points, driven by shares of electronics, internet and the financial sector, and the Taiex rose 1.41% in Taiwan, to 15,618.17 points.

In Oceania, the Australian stock exchange was also in the black, supported by shares of large banks and mining companies. The S&P/ASX 200 was up 0.35% in Sydney at 7,530.10 points.

The mixed behavior in Asia and the Pacific came after New York stock markets closed with widespread gains on Tuesday, in reaction to speeches by Powell, chairman of the Fed.

During an event in Washington, Powell reaffirmed that the US is at the beginning of a disinflationary process and signaled that recent strong data from the job market are not enough to change the stance of the US Central Bank in relation to interest rates.