S&P 500   4,455.48
DOW   34,798.00
QQQ   373.33
S&P 500   4,455.48
DOW   34,798.00
QQQ   373.33
S&P 500   4,455.48
DOW   34,798.00
QQQ   373.33
S&P 500   4,455.48
DOW   34,798.00
QQQ   373.33

Asian stock markets mixed after Wall Street rises to record

Tuesday, July 27, 2021 | Joe Mcdonald, AP Business Writer

A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Tuesday, July 27, 2021. Asian stock markets were mostly higher Tuesday as investors looked ahead to a Federal Reserve report for an update on when U.S. stimulus might start winding down. (AP Photo/Vincent Yu)

BEIJING (AP) — Asian stock markets were mixed Tuesday as investors looked ahead to a Federal Reserve report for an update on when U.S. stimulus might start winding down.

Tokyo and South Korea advanced while Hong Kong retreated and Shanghai swung between gains and losses.

On Monday, Wall Street's benchmark S&P 500 index rose to a new record, shrugging off worries about the spread of the more contagious delta variant of the coronavirus.

Investors awaited the Fed report Wednesday for signs of the central bank's level of concern about inflation and when it might start rolling back easy credit and other economic stimulus. Minutes of the Fed meeting in June showed board members discussed how and when they might reduce monthly bond purchases that inject money into the financial system.

“We expect Jay Powell to reiterate that the tapering discussion is underway, but that it’s too soon to reveal a specific date,” Danielle DiMartino Booth of Quill Intelligence said in a report.

The Shanghai Composite Index was down 0.2% at midday at 3,461.03 after spending much of the morning in positive territory. The Nikkei 225 in Tokyo advanced 0.5% to 27,969.76 while the Hang Seng in Hong Kong sank 2% to 25,647.68.

The Kospi in Seoul rose 0.2% to 3,232.35.after economic growth moderated to 0.7% over the previous quarter in the three months ending in June, down from previous quarter's 1.7%.

Australia's S&P-ASX 200 advanced 0.5% to 7,429.90 and India's Sensex opened up 0.1% at 52,912.28. New Zealand, Bangkok and Jakarta, Indonesia, declined while Singapore advanced.

On Wall Street, the S&P 500 rose 0.2% to 4,422.30. The Dow Jones Industrial Average gained or 0.2% to 35,144.31. The Nasdaq composite added less than 0.1% to 14,840.71.

Cruise lines, hotels and retailers were among the winners. Carnival rose 5.5%, Caesars Entertainment added 3.3% and Gap rose 3%. Among stocks that lost ground: Drug maker Moderna slid 3.7% and chipmaker Nvidia fell 1.4%.

U.S.-traded shares in Chinese companies sank after Beijing announced additional enforcement measures on technology, real estate and for-profit education ventures. Chinese authorities say they need to protect public safety and financial stability, restrain surging housing costs and promote social welfare. But their abrupt orders shook investor confidence.

China’s industry ministry announced a 6-month campaign to clean up what it says are serious problems with internet apps violating consumer rights, cyber security and “disturbing market order.” Internet giant Tencent slid 10% following a weekend order by regulators to end exclusive contracts with music copyright holders that they said harmed competition.

“"A painfully sobering message may be: ‘You can take the company listing out of China, but you can’t take China (risks) out of the company,’” said Mizuho Bank in a report. “If unresolved, this may ultimately impair the ability of Chinese firms to raise global capital, a serious impediment to Beijing’s aspirations to grow global champions.”

U.S. traders are looking for earnings reports from more large companies this week. Google's parent, Alphabet, reports Tuesday. So do Apple and Microsoft. Pfizer and Boeing report Wednesday.

Electric vehicle company Lucid Motors, now dubbed Lucid Group, rose 10.6% in its public debut after being bought by blank-check company Churchill Capital Corp.

In energy markets, benchmark U.S. crude gained 26 cents to $72.17 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 16 cents to $71.91 on Monday. Brent crude, used to price international oils, advanced 29 cents to $73.99 per barrel in London. It rose 40 cents the previous session to $74.50.

The dollar dollar declined to 110.22 yen from Monday's 110.39 yen. The euro edged up to $1.1802 from $1.1800.

Should you invest $1,000 in Microsoft right now?

Before you consider Microsoft, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Microsoft wasn't on the list.

While Microsoft currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here


Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Clarivate (CCC)2.2$0.02flatN/A-0.03Buy$34.00
Microsoft (MSFT)3.0$299.35-0.1%0.75%37.19Buy$325.44
Compare These Stocks  Add These Stocks to My Watchlist 


Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.