Opening the Street as Asian Markets Trade and Oil Prices Rise: Key Factors

By Malvika Gurung — The Singapore-based SGX-listed company, a leading indicator for , was trading down 0.1% or 15.7 points as of 8:43 a.m. Monday, indicating a muted open on Dalal Street.

At the same time, the gain of 0.62%, while it climbed 1.03%.

Wall Street’s major indexes ended a volatile week on a mixed note on Friday, after tech-heavy Tesla fell more than 6%, along with other growth stocks.

The indices and continued to fall for the 7th consecutive week, recording their longest losing streak since 2001. Down Jones, on the other hand, fell for the 8th consecutive week, its longest since 1932.

ended down 0.3%, the S&P 500 ended flat and rose 0.03% on Friday. During the week, the three indexes fell to 3.8%, 3% and 2.9%, respectively.

Shares in Asian markets traded mixed on Monday, amid lingering inflation concerns and looming fears of an interest rate hike worsening the global economic outlook and constantly weighing on sentiment. investors.

As of 8:40 a.m., South Korea traded flat, Japan’s climbed 0.5%, China’s fell 0.5%, Hong Kong’s plunged 1.23% and that of Australia traded flat.

Additionally, oil prices climbed on Monday, driven by factors including US market demand for fuel, a slightly weaker US dollar and tight supply supporting the market, and as Shanghai prepares to reopen from a lockdown. two months of Covid-19.

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Felix J. Dixon