{"id":132759,"date":"2021-07-20T00:12:39","date_gmt":"2021-07-20T00:12:39","guid":{"rendered":"https:\/\/precoinnews.com\/?p=132759"},"modified":"2021-07-20T00:12:39","modified_gmt":"2021-07-20T00:12:39","slug":"stocks-in-asia-pacific-set-to-open-lower-after-dow-sees-worst-drop-since-october","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/stocks-in-asia-pacific-set-to-open-lower-after-dow-sees-worst-drop-since-october\/","title":{"rendered":"Stocks in Asia-Pacific set to open lower after Dow sees worst drop since October"},"content":{"rendered":"<ul>\n<li>The Dow Jones Industrial Average fell more than 700 points overnight on Wall Street as fears over a Covid resurgence weighed on investor sentiment.<\/li>\n<li>China is set to announce its latest benchmark lending rate on Tuesday. Majority of traders and analysts in a snap poll expect no change to both the one-year Loan Prime Rate (LPR) or five-year LPR, according to Reuters.<\/li>\n<li>Markets in Indonesia, Malaysia and Singapore are closed on Tuesday for holidays.<\/li>\n<\/ul>\n<p>SINGAPORE \u2014 Shares in Asia-Pacific looked set to open lower on Tuesday following an overnight tumble for stocks on Wall Street that saw the Dow Jones Industrial Average plunging more than 700 points.<\/p>\n<p>Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 27,355 while its counterpart in Osaka was at 27,270. That compared against the Nikkei 225&#x27;s last close at 27,652.74.<\/p>\n<p>Australian stocks also looked poised for opening declines. The SPI futures contract was at 7,129, against the S&amp;P\/ASX 200&#x27;s last close at 7,286.<\/p>\n<p>China is set to announce its latest benchmark lending rate later on Tuesday. Majority of traders and analysts in a snap poll expect no change to both the one-year Loan Prime Rate (LPR) or five-year LPR, according to Reuters.<\/p>\n<p>Markets in Indonesia, Malaysia and Singapore are closed on Tuesday for holidays.<\/p>\n<h2>Stock picks and investing trends from CNBC Pro:<\/h2>\n<p>Morgan Stanley says it&#x27;s time to invest in the UK \u2014 and names its favorite stocks<\/p>\n<p>Nomura picks 2 winning stocks in Japan \u2014 one is already up 122%<\/p>\n<p>There&#x27;s a &#x27;better hedge&#x27; against rising inflation \u2014 and it&#x27;s not gold, says fund manager<\/p>\n<h2>Wall Street drop<\/h2>\n<p>Overnight stateside, the Dow Jones Industrial Average plunged 725.81 points to 33,962.04 while the S&amp;P 500 slipped 1.59% to 4,258.49. The Nasdaq Composite fell 1.06% to 14,274.98.<\/p>\n<p>The losses on Wall Street came as concerns grew over the potential impact of a Covid resurgence on the global economic recovery. Several countries in Southeast Asia have been battling a resurgence in infections, and Goldman Sachs recently slashed its 2021 growth forecasts for most of the region.<\/p>\n<table><\/table>\n<h2>Currencies<\/h2>\n<p>The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.891 after a recent bounce from below 92.8.<\/p>\n<p>The Japanese yen traded at 109.54 per dollar, stronger than levels above 110.5 seen against the greenback last week. The Australian dollar changed hands at $0.7339, off levels around $0.738 seen yesterday.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/07\/20\/asia-markets-dow-jones-industrial-average-drop-covid-currencies-oil.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Dow Jones Industrial Average fell more<\/p>\n","protected":false},"author":3,"featured_media":132758,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stocks in Asia-Pacific set to open lower after Dow sees worst drop since October - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/stocks-in-asia-pacific-set-to-open-lower-after-dow-sees-worst-drop-since-october\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stocks in Asia-Pacific set to open lower after Dow sees worst drop since October - 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