Asian markets mostly contain stock, but stock in China falls after Alibaba protests

Asian shares remained mostly high on Thursday, following a mixed set of reports on Wall Street’s economy of small stocks.

Benchmarks grew in Tokyo, Hong Kong and Sydney.

Stocks in Shanghai fell, according to China’s market regulator, it has launched an anti-monopoly investigation of e-commerce giant Alibaba Group 9988

+ 0.14%,
Advancing official efforts to tighten control over the country’s fast-growing tech industries.

China is also investigating the practice of buying community groups, calling for discussion as part of an anti-monopoly push to some of the country’s largest tech companies.

China’s state administration has recently summoned six companies for market regulation, including Alibaba and other e-commerce platforms such as JD.
+ 3.23%
And Pinduoduo PDD,
+ 0.88%,
Gaming company Tencent 700,
Food delivery firm Mituan 3690,
And ridesharing firm Didi Chuxing, to talk about the potential impact of community group purchases.

Shanghai Composite Index SHCOMP,
0.2% is lost. The stock also fell on the small market in southern China’s Shenzhen 399106,

But elsewhere, Christmas Eve trading was upbeat. Tokyo’s Nikkei 225 Index NIK,
+ 0.54%
0.4% gain and Hang Seng HSI on Thursday,
+ 0.16%
Hong Kong has 0.2% more. In South Korea, Kospi 180721,
+ 1.70%
Jumped 1.3% and Australia’s S&P / ASX 200 XJO,
+ 0.33%
Rose 0.4%. Upgraded in stock Taiwan Y9999,
+ 0.40%
And Singapore STI,
+ 0.30%.

Jeffrey Haley of Onda said in a comment, “Although the reshuffle was expected to occur in some parts of emerging Asia before the holiday break, the underlying theme is a positive one.”

S&P 500 SPX on Wednesday,
+ 0.07%
Up 0.1% to 3,690.01. The benchmark index set a record high on Thursday and is up 14.2% so far this year.

Profits from the financial, communications services, energy and other sectors were kept in check by other companies with declines, including technology companies, which helped pull the Nasdaq comp.
Down a little bit.

An hour before trade resumed on Wall Street, the government released an avalanche of data on the economy showing some optimistic signs and many disappointing things.

The Labor Department said fewer American workers filed for unemployment benefits last week. The number is still incredibly high compared to before the epidemic, but it was better than economists had expected.

Another report stated that long-haul goods orders were stronger than last month, which is a good sign for the nation’s manufacturers.

But other reports were serious. Consumers withdrew their expenses compared to the previous month, which economists expected. This was the first decline since April and mainly because incomes declined sharply in November, exceeding forecasts by economists.

Dow Jones Industrial Average DJIA,
+ 0.38%
Added 0.4% to 30,129.83.

President Donald Trump said that Stock Future had initially dropped that it could not sign a $ 900 billion rescue for the economy that Congress approved on Monday night.

There was hope in the markets that the package could halt the economy as long as widespread vaccination could help the world return to normalcy. The law includes a lump sum cash payment of $ 600 to most Americans, additional benefits for laid-off workers, and other financial aid.

Trump said late Tuesday that he would like to see large cash payments for most Americans, up to $ 2,000 for individuals. He also criticized other parts of the bill.

But eventually the shares gained momentum as investors saw unexpected pushback.

“Despite the Washington DC pond churn by Waitos, new votes, and overrides, Wall Street believes something will float on top of the positive barrel when the churn stops,” Haley said.

The yield on the 10-year Treasury rose from 0.90% to 0.95% late Tuesday night.

In other trading, US benchmark crude CLG21,
+ 0.19%
Electronic trading on the New York Mercantile Exchange gained 12 cents to $ 48.24 a barrel. It rose from $ 1.10 to $ 48.12 on Wednesday. Brent crude BRNG21,
+ 0.29%,
International standard, added 14 cents at $ 14.38 per barrel.

Dollar USDJPY,
+ 0.02%
The Japanese yen slipped to 103.52 from 103.54 yen late on Wednesday.


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