{"id":175367,"date":"2023-05-12T07:31:09","date_gmt":"2023-05-12T07:31:09","guid":{"rendered":"https:\/\/precoinnews.com\/?p=175367"},"modified":"2023-05-12T07:31:09","modified_gmt":"2023-05-12T07:31:09","slug":"asian-shares-mixed-on-bank-contagion-worries","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/asian-shares-mixed-on-bank-contagion-worries\/","title":{"rendered":"Asian Shares Mixed On Bank Contagion Worries"},"content":{"rendered":"

Asian stocks ended Friday’s session on a mixed note, as investors fretted about the health<\/span> of U.S. banks and reacted to mixed China data, strong earnings results from Apple and the ECB rate decision. Trading volumes were thin due to holidays in Japan and South Korea.<\/p>\n

The dollar traded weak and gold held near record highs ahead of the all-important U.S. jobs report due later in the day that could influence the Federal Reserve’s monetary policy path. Oil prices rebounded but headed for a third straight week of losses on demand worries.<\/p>\n

Chinese shares ended lower as data showed a slower pace of recovery in the country’s services sector. China’s service activity grew for a fourth straight month but at a slower pace than March, a private sector survey showed.<\/p>\n

The benchmark Shanghai Composite Index dropped 0.5 percent to 3,334.50, while Hong Kong’s Hang Seng Index settled half a percent higher at 20,049.31.<\/p>\n

Australian markets<\/span> eked out modest gains after three consecutive sessions of losses. The benchmark S&P\/ASX 200 Index rose 0.4 percent to 7,220, while the broader All Ordinaries Index ended 0.3 percent higher at 7,413.10.<\/p>\n

Lender ANZ Group rallied 1.5 percent after reporting strong first-half profit. Gold miners Regis Resources, Northern Star Resources, Evolution Mining and Newcrest climbed 1-2 percent as gold prices steadied near record highs on a weaker dollar.<\/p>\n

Across the Tasman, New Zealand’s benchmark S&P\/NZX-50 Index slid 0.7 percent to 11,889.01.<\/p>\n

U.S. stocks fell for a fourth straight day overnight on bank worries after PacWest confirmed that it is reviewing strategic options, including a potential sale. Mixed signals from the Fed on the interest rate outlook also weighed on markets. <\/p>\n

On the economic front, weekly jobless claims rose along with labor costs, while the trade deficit narrowed in March.<\/p>\n

The Dow gave up 0.9 percent to turn slightly negative for 2023, while the S&P 500 declined 0.7 percent and the tech-heavy Nasdaq Composite eased half a percent. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Asian stocks ended Friday’s session on a<\/p>\n","protected":false},"author":3,"featured_media":175366,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nAsian Shares Mixed On Bank Contagion Worries - 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\/business\/asian-shares-mixed-on-bank-contagion-worries\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asian Shares Mixed On Bank Contagion Worries - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Asian stocks ended Friday’s session on a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/asian-shares-mixed-on-bank-contagion-worries\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-12T07:31:09+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/05\/Asian-Shares-Mixed-On-Bank-Contagion-Worries-.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/asian-shares-mixed-on-bank-contagion-worries\/\",\"url\":\"https:\/\/precoinnews.com\/business\/asian-shares-mixed-on-bank-contagion-worries\/\",\"name\":\"Asian Shares Mixed On Bank Contagion Worries - 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