Asian Markets Mixed as China Restricts Travel Amid COVID Spike

Asian Markets Mixed as China Restricts Travel Amid COVID Spike

Following a drop on Wall Street, Asian stock markets were mixed Monday, as China increased travel restrictions in some areas in response to coronavirus infections.

Shanghai, Hong Kong, and Sydney all made gains, while Tokyo lost ground.

After a seven-day winning streak, the S&P 500 index fell 0.1 percent on Friday, led down by losses for IT stocks.

In China, the northwest province of Gansu blocked tourist spots Monday after coronavirus cases were discovered, and Beijing restricted tourists from locations where infections had occurred in the previous 14 days. Although only a few dozen cases have been documented in China, Beijing's response to restricting travel has raised concerns that they may drag on already sluggish economic growth.

In a study, IG's Yeap Jun Rong said, "One may expect vigorous steps to restrict viral outbreaks, which may put a cap on growth."

The Shanghai Composite Index SHCOMP, +0.76% gained 0.4 percent, while Tokyo's Nikkei 225 NIK, -0.71% fell 0.7 percent. In Hong Kong, the Hang Seng HSI (+0.02%) gained 0.1 percent.

Seoul's Kospi 180721, +0.48% rose 0.4 percent, while Sydney's S&P/ASX 200 XJO, +0.34 percent rose 0.5 percent. In Singapore STI, -0.10 percent, Taiwan Y9999, +0.03 percent, and Indonesia JAKIDX, -0.27 percent, stocks fluctuated between modest losses and gains.

After a day of tumultuous trading on Wall Street, the S&P 500 SPX, -0.01% finished at 4,544.90 on Friday, with losses for big tech companies.

The Dow Jones Industrial Average DJIA, -0.05 percent rose 0.2 percent to 35,677.02, surpassing its previous high on Aug. 15. The Nasdaq composite COMP, -0.27% fell 0.8 percent to 15,090.20.

Investors were buoyed by generally positive company earnings, which helped the three major indexes notch their third weekly increase.

Also on Friday, Federal Reserve Chair Jerome Powell stated that industrial supply chain issues have worsened and that inflation would likely remain high well into next year.

Investors are searching for signs of how companies are dealing with supply chain issues and growing material, transportation, and other products and services costs. Many businesses have warned that increasing prices will wreak havoc on their operations.

Powell also stated that the Fed will not raise its key interest rate from near zero. He did, however, hint that the economy could be ready for a rate hike next year.

On the New York Mercantile Exchange, benchmark U.S. crude CLZ21, 1.44 percent climbed 95 cents to $84.71 per barrel in electronic trading. On Friday, the contract increased from $1.26 to $83.76. Brent crude BRNZ21, 0.98 percent, the worldwide oil price benchmark, fell 4 cents to $85.49 a barrel in London. It was up 92 cents to $85.53 in the previous session.

The dollar USD/JPY rose 0.09 percent to 113.75 yen from 113.44 yen on Friday.

Subscribe Our Newsletter

Disney, Chipotle, Pfizer, Twitter, and Other Stocks to Watch This Week
Disney, Chipotle, Pfizer, Twitter, and Other Stocks to Watch This Week

Amgen, Hasbro, Principal Financial Group, Simon Property Group, Take-Two Interactive Software, Tyson Foods, and Zimmer Biomet Holdings all release quarterly results.

Companies
Bitcoin Rose Early Monday Amid Rising Cryptocurrencies
Bitcoin Rose Early Monday Amid Rising Cryptocurrencies

Early Friday morning, the price of bitcoin rose nearly 3 percent, breaking the $47,000 plateau and continuing to rise since Friday.

Crypto
Get the ultimate solution: B2BinPay Get the ultimate solution: B2BinPay
Sponsored
Alexander

Litecoin Mining Guide: How to Get Started in 2025?
A step-by-step guide to Litecoin mining in 2025, including tips on hardware, mining methods, and optimizing energy consumption for beginners.

discover
Forex Trading: A Beginner's Guide

Tamta

Forex Trading: A Beginner’s Guide

Forex, an abbreviation of "foreign exchange," is something we encounter frequently. When traveling abroad and exchanging your money for the local currency, you simply make a Forex exchange.

Forex Business
Contact us bg

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Successful!
    Thank you for your request.
    We will contact you shortly.
    Close

    Сonstantine

    Internal vs External Range Liquidity In ICT Trading Explained

    Internal vs External Range Liquidity In ICT Trading

    Constantine

    Portfolio Backtesting — Tools, Metrics, and Methods Explained

    Portfolio Backtesting

    Сonstantine

    ICT Trading Explained: Smart Money Concepts, Tools and Setups

    ICT Trading Explained

    Сonstantine

    CFD Trading Strategies: A Practical Guide to Risk and Execution

    CFD Trading Strategies

    Alexander

    What is a Fair Value Gap? A Guide to Trading Market Imbalances

    What is Fair Value Gap

    Vitaliy

    Triangle Patterns in Trading: Mastering Ascending, Descending & Symmetrical Strategies for Maximum Profit

    Triangle Patterns in Trading: Ascending, Descending & Symmetrical Guide

    Alexander

    What Is COTI? Payments, Token & Price Prediction

    What is a COTI coin

    Constantine

    Best Copy Trading Software in 2025

    Best Copy Trading Software in 2025

    Alex

    What Is an AI Agent? The Future of Finance Explained

    AI Agent Explained

    Constantine

    How to Start a Liquidity Provider Business?

    How to Start a Liquidity Provider Business

    Constantine

    How to Start a White Label Brokerage?

    How to start a white label brokerage

    Constantine

    How to Start a Multi-Asset Brokerage?

    How to Start a Multi-Asset Brokerage

    Hazem

    Crypto Ransomware – How They Happen and How to Avoid Them

    Crypto ransomware explained

    Constantine

    Best Web3 Browsers in 2025

    Best Web3 Browsers

    Constantine

    Best DAO Projects in 2025

    Best DAO projects in 2025

    Alexander

    Crypto Nodes That Pay: Your 2025 Guide to Top Passive Income Opportunities in Crypto

    crypto nodes that pay

    Alex

    Pi Network: Scam or Groundbreaking Crypto? The Full Analysis

    Pi Network Explained

    Constantine

    Triple Net Lease: Meaning, Benefits, and Strategies Explained

    Triple Net Lease

    Constantine

    Hanging Man Pattern: How to Identify and Trade It Effectively

    Hanging Man Pattern

    Alex

    5 Infinite Banking Mistakes That Could Cost You Thousands

    Infinite Banking Mistakes to Avoid

    Aleksander

    Solana Firedancer: Solving Solana’s Biggest Problems with a New Engine

    Solana Firedancer explained

    Alexander

    What Is an Interest Coverage Ratio? How to Use This Financial Metric to Evaluate Company Health

    Interest Coverage Ratio Explained

    Hazem

    After-Hours Trading: Can You Trade After Financial Markets Close?

    After-Hours Trading Explained

    Alexander

    How to Scale a Crypto Exchange Business and Stay Competitive

    how to scale crypto exchange business
    liquidity-provider-logo
    • News
      • Stock Market Forecast
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
      • AI
      • Technology
      • DeFi
      • NFT
    • Articles
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
      • Blockchain
      • Investing
      • NFT
      • DeFi
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
      • White Label Brokerage Platforms
      • Broker CRM Platforms
    [email protected]

    © 2024 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy
    This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.