TOKYO (AP) — Asian shares were trading mixed on Monday, with benchmarks in Tokyo and Seoul leading gains thanks to buying of computer chipmakers’ stocks.
asserted
benchmarks → trade → stocks
Japan’s benchmark Nikkei 225 added 1.7% to 66,104.93, while South Korea’s Kospi jumped 3.3% to 6,907.53.
asserted
Kospi → add → 6,907.53
Shares in Samsung Electronics jumped 4.5% and memory chipmaker SK Hynix surged 6.2%.
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Hynix → jump → Electronics
“The AI complex continues to provide the local equity markets with its most dependable growth pulse,” said Stephen Innes, a former trader, about the Asian markets.
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Innes → continue → markets
“The AI complex is firmly in the leadership seat and reminding investors that, for all the hand-wringing around valuation, the hardware trade is still refusing to roll over.
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trade → remind → valuation
Hong Kong’s Hang Seng lost 1.1% to 25,377.12, while the Shanghai Composite shed 0.2% to 3,920.70.
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Composite → lose → 3,920.70
In energy markets, Brent crude, the international standard, added 67 cents to $96.95 a barrel following further escalation of the six-month -long U.S. war with Iran.
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crude → add → Iran
The U.S. military denied that Iran struck an uncrewed American military vessel in the Strait of Hormuz, which remains effectively closed, calling the claim a “total lie.”
uncertain
which → deny → claim
A senior Iranian official said Tehran plans to announce an “exclusion zone” outside the strait, targeting vessels it believes are attempting to transit the waterway.
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it → say → waterway
That followed U.S. strikes on three Iranian oil tankers in response to Tehran launching ballistic missiles at U.S. warships.
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Tehran → follow → warships
Benchmark U.S. crude rose 61 cents to $92.09 a barrel.
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crude → rise → 92.09
U.S. markets will be closed Monday for the Labor Day holiday.
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markets → close → holiday
They ended last week lower after the government reported that employers unexpectedly added 162,000 jobs last month.
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employers → end → jobs
That could increase the likelihood the U.S. central bank will raise interest rates later this month.
uncertain
bank → increase → rates
Friday on Wall Street, the S&P 500 fell 0.4%.
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S&P → fall → Street
The Dow Jones Industrial Average fell 0.5%, and the Nasdaq composite gave back 0.3%.
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composite → fall → %
Market players expect the Federal Reserve to raise interest rates before the year ends to help cool inflation, which remains well above 3%.
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which → expect → %
The Fed’s next policy-making committee’s meeting ends Sept. 16.
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meeting → make → ?
The Fed has a stated goal of cooling inflation to a target of 2%.
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Fed → have → %
August inflation figures are expected on Sept. 11.
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figures → expect → Sept.
U.S. government bond yields, which had eased last week, rose Friday as the bond market weighed the implications of the jobs report.
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market → ease → report
The yield on the 10-year Treasury, which influences mortgage rates, rose to 4.78% from 4.77%.
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which → influence → %
The euro cost $1.1609, down from $1.1621.
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euro → cost → 1.1621
The weakening yen has been a major area of concern for Japanese leaders.
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yen → weaken → leaders
Its value has rebounded after the dollar surged to the 160 yen level last week.
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dollar → rebound → level
Market watchers are focused on what the Bank of Japan might do on interest rates at its next policy board meeting later this month.
uncertain
Bank → focus → meeting
“The stronger-than-expected U.S. employment report generated only a limited recovery in the dollar, suggesting that the market is currently responding more strongly to the changing BOJ policy outlook,” said Linh Tran, a market analyst at XS.com.
asserted
Tran → expect → XS.com
The Aporia
