Asia-Pacific stocks mixed; Singapore Q3 GDP grew 7.1% Y/Y

Nov. 24, 2021 1:16 AM ETBy: Mamta Mayani, SA News Editor

Close-up Shot of an Anonymous Woman Holding a Smartphone with a Stock Market Graph on Screen

FreshSplash/E+ via Getty Images

  • Japan -1.53%. Preliminary PMIs for November: Manufacturing 53.5 vs. expected 54.5, prior 53.2.
  • Services PMI 52.1, prior 50.7. Composite PMI 52.5, prior 50.7.
  • China +0.28%.
  • Hong Kong +0.69%.
  • Australia -0.15%.
  • Singapore +0.22%. Singapore’s economy grew 7.1% Y/Y in Q3, higher than an earlier estimate for 6.5% growth.
  • On a quarter-on-quarter, seasonally adjusted basis, Q3 GDP expanded by 1.3%.
  • The Ministry of Trade and Industry now sees 2021 GDP growth at around 7.0% (previous forecast 6.0% to 7.0%); sees 2022 GDP growth of 3.0% to 5.0%.
  • New Zealand’s currency weakened after the nation raised interest rates to 0.75% to curb price pressures, a smaller move than some had expected. The central bank projected 2% benchmark borrowing costs by the end of 2022.
  • Overnight on Wall Street, Dow Jones gained 194.55 points to 35,813.80, S&P 500 climbed about 0.17% to 4,690.70, while Nasdaq fell 0.5% to 15,775.14.
  • The rise in Treasury yields has weighed on technology stocks on Wall Street. It last sat at 1.6374%, compared with levels around 1.55% seen earlier in the week.
  • The benchmark 10-year U.S. Treasury yield has climbed since President Joe Biden announced his renomination of Jerome Powell as Federal Reserve chair.
  • Oil prices were mixed, with Brent crude futures down 0.17% to $82.17/barrel. U.S. crude futures hovered mildly higher at $78.52/barrel.
  • Gold prices edged higher. Spot gold rose 0.2% to $1,792.68 per ounce. U.S. gold futures added 0.5% to $1,792.90.
  • Spot silver fell 0.3% to $23.58 per ounce. Platinum rose 0.7% to $975.40 and palladium gained 1.1% to $1,888.63.
  • U.S. stock futures muted. Dow Jones -0.04%; S&P 500 +0.02%; Nasdaq +0.20%.

Recommended For You

Comments

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.