Street’s Opening As Asian Markets Trade Mixed & Oil Prices Rise: Key Factors

  • Investing.com
  • Stock Market News
Street’s Opening As Asian Markets Trade Mixed & Oil Prices Rise: Key Factors

By Malvika Gurung

Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , was trading 0.1% or 15.7 points lower at 8:43 am on Monday, indicating a muted opening on Dalal Street.

At the same time, the Dow Jones Futures gained 0.62%, while Nasdaq 100 Futures climbed 1.03%.

Major indices on Wall Street ended a volatile week on a mixed note on Friday, after the tech-heavy Tesla tumbled over 6%, along with other growth stocks. 

Indices Nasdaq Composite and S&P 500 continued falling for the 7th straight week, logging their longest losing run since 2001. Down Jones, on the other hand, declined for the 8th consecutive week, its longest since 1932.

Nasdaq ended 0.3% lower, S&P 500 ended flat, and Dow Jones rose 0.03% on Friday. In the week, the three indices declined at 3.8%, 3%, and 2.9%, respectively.

Stocks across Asian markets traded mixed on Monday, amid persisting inflation worries and looming fears of rising interest rates worsening the global economic outlook and constantly weighing on investors' sentiments.

At 8:40 am, South Korea’s KOSPI traded flat, Japan’s Nikkei 225 climbed 0.5%, China's Shanghai Composite fell 0.5%, Hong Kong’s Hang Seng index plunged 1.23%, and Australia's ASX 200 traded flat.

Further, oil prices climbed on Monday, led by factors including fuel demand in the US market, a slightly weakening US dollar and tight supply supporting the market, and as Shanghai prepares to reopen after a Covid-19 lockdown of two months. 

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100

Related Articles