Even though oil prices went up after last week’s crash, Asian markets are starting the day a little bit lower as investors look at what happened on Wall Street the day before.
Investors kept weighing their worries about the economy going down against their worries about losing Russian supplies because of sanctions caused by the conflict in Ukraine. Oil prices kept going up as a result.
In a research report, analysts from the Commonwealth Bank of Australia said that the oil market was helped by “a seam of tight supply news.” “Political unrest could make it harder to get oil from Libya and Ecuador, which are both secondary producers.” The G7’s idea of putting limits on the price of Russian oil is another possibility. “
MSCI’s largest index of Asia-Pacific shares outside of Japan (.MIAPJ0000PUS) was down 0.7% at the start of the Asian trading day. The index has gone down by 3.8% this month. The S&P 500 e-mini futures in the United States increased by 0.27 percent.
The Japanese stock index Nikkei (.N225) went up by 0.5%, and Australian stocks (.AXJO) went up by 0.2%.
In early trading, the blue-chip CSI300 index (.CSI300) for China was down 0.4%. At the start of the day in Hong Kong, the Hang Seng index (.HSI) was down by 0.36 percent.
As the first half of the year comes to a close, the equity markets have been hit hard by rising inflation fears and a tightening Fed policy. On Monday, U.S. stocks ended a tumultuous trading session slightly lower, with few events that could change investors’ minds.
After going up and down earlier in the day, the major U.S. stock indices went down. Amazon.com Inc. (GOOGL.O), Microsoft Corp. (MSFT.O), and Amazon.com Inc., which are sensitive to changes in interest rates, were the biggest drags.
