Stocks often rise ahead of Powell’s Jackson Hole speech

A person looks at an electronic board displaying stock information at the Australian Securities Exchange operated by ASX Ltd in Sydney, Australia on March 16, 2020.

Brandon Thorne | Good pictures

Stocks rose in the Asia-Pacific on Friday as investors looked ahead to Fed Chairman Jerome Powell’s speech stateside after Jackson Hole.

In Australia, the S&P/ASX 200 0.79% higher to close at 7,104.1.

Chinese tech stocks listed in both Hong Kong and the US were higher. came as The Wall Street Journal reports that Washington and Beijing are close to reaching an agreement This would allow US accounting regulators to inspect audit records in Hong Kong.

Listing fears have plagued US-listed Chinese companies in recent months due to an audit dispute. In Hong Kong, Ali Baba Shares rose 2.13% Bye Gained 2.54%. It rose 1.01% to 20,170.04 Hang Seng Index.

of Japan Nikki 225 Topix was up 0.57% at 28,641.38, while Topix was up 0.15% at 1,979.59.

The Cosby South Korea advanced 0.15% to 2,481.03, while Costco lost 0.61% to 802.45.

Mainland China Shanghai Mix It was down 0.31% at 3,236.22 Shenzhen component 0.366% down at 12,059.71.

MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.54% higher.

“Hawkish commentary from Fed speakers overnight had little effect as markets await Powell’s keynote speech in Jackson Hole this evening,” National Australia Bank economist Taylor Nugent wrote in a note on Friday. He noted that central bank spokesmen said the central bank’s job of fighting inflation was not over and that rates needed to enter controlled territory.

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Overnight in the US, major indices rose. The Dow Jones industrial average rose 322.55 points, or 0.98%, to 33,291.78. The S&P 500 gained 1.41% to 4,199.12 and the Nasdaq Composite added 1.67% to 12,639.27.

Many companies listed in Hong Kong report earnings Meiduan.

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