Market Update: Asian Stock Performance Varies as Wall Street Continues to Reach New Highs
Money | June 19, 2024, 1:54 a.m.
Asian stocks had a mixed performance following U.S. benchmarks reaching new highs, indicating a slowing U.S. economy. Japan's Nikkei 225 rose due to strong trade data, while the Hang Seng in Hong Kong surged. China's securities regulator announced increased oversight, impacting the Shanghai Composite. U.S. markets saw gains, with Nvidia standing out as a market leader. Retail sales in the U.S. were weaker than expected, raising concerns about the economy. Despite this, global fund managers remain optimistic about stocks. Oil prices remained steady, with U.S. crude at $80.71 per barrel. The dollar strengthened against the yen. The market outlook remains uncertain, with potential risks ahead.