September 29, 2022

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Jackson Hole, Hong Kong trade begins after typhoon warning

Jackson Hole, Hong Kong trade begins after typhoon warning

The windows of a restaurant at The Peak in Hong Kong were recorded on August 24, 2022, as the Hong Kong Observatory issued typhoon signal No. 8 earlier in the morning. HKEX has canceled its morning session according to the T8 release. (Photo by ISAAC LAWRENCE / AFP) (Photo by ISAAC LAWRENCE / AFP via Getty Images)

Isaac Lawrence | Afp | Getty Images

Markets in the Asia-Pacific region mostly traded higher ahead of the Jackson Hole symposium in the US, while the Hong Kong session resumed in the afternoon after trading was halted due to a typhoon warning.

The Hang Seng Index It rose 3.63% to 19,968.38 at the close, led by technology stocks. Alibaba shares jumped 8.75%, Tencent is up 4.84%, and JD.com is up 11%. Hang Seng Tech closed 6.01% higher..

in mainland China, Shanghai boat It rose 0.97% to 3246.25 at the close, while the share price rose Shenzhen Component It increased to 12104.03.

Japan Nikkei 225 It ended the session 0.58% higher at 28479.01, while Topix was up 0.48% at 1.976.6. Australia S&P / ASX It also rose 0.71% at 7,048.1 points.

in south korea, Cosby The KOSDAQ Index rose 1.22% to 2477.26 and the KOSDAQ Index rose 1.79% at 807.37 The Bank of Korea raised the benchmark interest rate by 25 basis points.

US stock futures rose slightly after the three major averages closed higher during the daily trading session, as investors await more clarity on the Fed’s fight against inflation.

Dow Jones Industrial Average futures rose 75 points, or 0.22%. S&P 500 and Nasdaq 100 futures rose 0.36% and 0.35%, respectively.

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In currencies, the US dollar rose to as high as 109.11 overnight before easing back to around 108.6.

“The outlook with an upbeat letter from FOMC Chairman Powell in Jackson Hole is likely to continue to pressure the dollar upward in the run-up to his speech on Friday,” Christina Clifton, chief economist and currency strategist at the Commonwealth Bank of Australia, said in a report.

Hong Kong is due to release trade data for July later in the afternoon.