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Thursday, December 9, 2021

Asia Pacific Mixed Stocks; Bank of Korea announces rate hike

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SINGAPORE – Asia-Pacific stocks were mixed in Thursday’s trading as investors reacted to the Bank of Korea’s rate decision.

From South Korea Kospi led losses regionally, falling 0.5%.

The Bank of Korea raised its policy rate by 25 basis points to 1%, a move that analysts largely expected in a Reuters poll.

Following the decision, the Korean won it was trading 1.190 to the dollar, weaker than the levels around 1185 seen yesterday against the dollar.

The decision by the South Korean central bank followed a similar move by the Reserve Bank of New Zealand on Wednesday.

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Overnight in the United States, the S&P 500 rose 0.23% to 4,701.46 while the high-tech Nasdaq Composite advanced 0.44% to 15,845.23. The Dow Jones industrial average lagged, falling 9.42 points to 35,804.38.

Coins and oil

the US dollar index, which tracks the dollar against a basket of its peers, was at 96,755 following its rise from levels below 96.5 earlier in the week.

the japanese yen It was trading at 115.35 per dollar, weaker than the levels below 114.5 seen against the dollar earlier this week. the Australian dollar it was at $ 0.7204, still outside of the levels above $ 0.724 seen earlier in the trading week.

Oil prices rose in the morning of Asian business hours, internationally benchmarked Brent Crude Futures up 0.22% at $ 82.43 a barrel. US Crude Futures it gained 0.14% to $ 78.50 a barrel.

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