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New records were set on Wall Street on the first trading day of the year. The Dow Jones index rose more than 246 points to 36,585, while the S&P 500 ended the trading day 0.6 percent higher at 4,796. The technology-heavy Nasdaq index ended 1.2 percent higher.
While 2021 was a jubilee year for investors in the US and Norway with new records, it has been more sober and mixed on the Asian stock exchanges. The Nikkei index rose by just over six percent last year. The Hang Seng index on the Hong Kong Stock Exchange fell by more than 15 percent.
The Nikkei index on the Tokyo Stock Exchange is back above the 29,000 level. It started with an increase of over 1.5 percent on Tuesday, which was the first trading day of the year. Last fall, the Nikkei index was at its highest level in 31 years in a short period of time.
Restrained desire to buy
A new survey conducted by the major newspaper Yomiuri Shimbun shows that optimism is on the way back among Japanese business leaders. More than 90 percent of the leaders of Japan’s 30 largest companies believe that the economy will pick up in the first half of the year.
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Over 40 percent believe that Japan will have a growth of over three percent in 2022. There are still fears of new outbreaks from the omicron variant, but the basic view is that private consumption will pick up sharply in the world’s third largest economy in 2022.
– There is a pent-up need among people to buy things. If we can control the infection situation well, this will certainly develop positively in the time to come, says CEO Takeshi Ninami at Suntory, which is one of Japan’s leading breweries, and which takes the pulse of Japanese consumers.
There were long queues at several malls when they opened their doors after the New Year. Seibu Ikebukuro in Tokyo had a 60 percent revenue growth on the first trading day of the year, according to Yomiuri Shimbun.
Tourists drop out to travel to holiday paradise: – Most shops are for sale or rent after going bankrupt Indonesia’s beach paradise Bali has reopened after the pandemic, but only two foreign tourists arrived there in the first month. Bloomberg’s Grace Sihombing has spoken to a store owner in the formerly busy shopping street Kuta Legian. 01:49 Published: – The industry activity index for December (PMI) is still showing an increase, according to the report from Jibun Bank, which came out on Tuesday morning. This came in at 54.3 – 0.2 lower than in November. Figures below 50 indicate declining activity in the economy, while above 50 indicate increased activity. International financial institutions have downgraded the growth prospects for China for 2022. Nomura is among the most pessimistic and believes that economic growth this year will end up at 4.3 percent. The consensus is around five percent and over seven percent for last year. The Pmi index for China rose from 40.9 in November to 50.9 in December. This is the highest level since June 2021. The sub-indices show that, among other things, export orders continue to fall. “International demand remained weak due to the pandemic and rising logistics costs from the lack of containers,” said senior economist Wang Zhe, who is responsible for the Chinese activity report at Caixin Insight Group in a comment. There is optimism in Southeast Asia, which has almost 700 million consumers. The Asian Development Bank (ADB) believes the region will have an average growth of 5.1 percent in 2022 – against estimates of three percent for 2021. In contrast to the US and Europe, inflation is low. –
– Activity indices and real-time data show that Asia’s export industry picked up speed at the turn of the year. Although the omicron variant poses a serious threat, it is unlikely to cause nearly as much disruption to industry as the delta variant did in the third quarter, writes Asia economist Alex Holmes at Capital Economics in a report on Tuesday morning. Malaysian exports increased by 32 percent in November and a new monthly record was set in October. Singapore’s exports increased by most in over ten years in November. Brokerage firm Kim Eng Securities believes there is a low risk that the region will move towards new closures in 2022.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms look here. –
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Weak recovery from China
Southeast Asia is gaining momentum
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