AP

Asia stocks mixed after Wall St slips, China travel curbs

Oct 24, 2021, 8:52 AM | Updated: 8:55 pm

A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock E...

A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Monday, Oct. 25, 2021. Asian stock markets were mixed Monday after Wall Street slipped and China tightened travel controls in some areas in response to coronavirus infections. (AP Photo/Vincent Yu)

(AP Photo/Vincent Yu)


              People stand in front of a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Monday, Oct. 25, 2021. Asian stock markets were mixed Monday after Wall Street slipped and China tightened travel controls in some areas in response to coronavirus infections. (AP Photo/Vincent Yu)
            
              A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Monday, Oct. 25, 2021. Asian stock markets were mixed Monday after Wall Street slipped and China tightened travel controls in some areas in response to coronavirus infections. (AP Photo/Vincent Yu)
            
              A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Monday, Oct. 25, 2021. Asian stock markets were mixed Monday after Wall Street slipped and China tightened travel controls in some areas in response to coronavirus infections. (AP Photo/Vincent Yu)

BEIJING (AP) — Asian stock markets were mixed Monday after Wall Street slipped and China tightened travel controls in some areas in response to coronavirus infections.

Shanghai, Hong Kong and Sydney advanced while Tokyo declined.

Wall Street’s S&P 500 index declined 0.1% on Friday, weighed down by losses for tech companies after a seven-day streak of gains.

In China, Gansu province in the northwest closed tourist sites Monday after coronavirus cases were found and the capital, Beijing, banned visitors from areas with infections in the past 14 days. China has reported only a few dozen cases, but Beijing’s response of curbing travel prompted concern that they might weigh on economic activity that already is weakening.

“One may expect aggressive measures to control virus spreads, which may put a cap on growth,” said Yeap Jun Rong of IG in a report.

The Shanghai Composite Index rose 0.3% to 3,594.32 while the Nikkei 225 in Tokyo lost 1% to 28,520.35. The Hang Seng in Hong Kong added 0.1% to 26,157.11.

The Kospi in Seoul advanced 0.2% to 3,013.13 and Sydney’s S&P-ASX 200 gained 0.4% to 7,444.00.

New Zealand, Singapore and Jakarta declined.

On Wall Street, the S&P 500 ended at 4,544.90 on Friday after losses for big tech companies after a day of choppy trading.

The Dow Jones Industrial Average gained 0.2% to 35,677.02, exceeding its Aug. 15 high. The Nasdaq composite slid 0.8% to 15,090.20.

Some 65% of stocks in the S&P 500 closed higher, led mainly by financial and health care companies, but losses in communication and technology companies held the S&P 500 down. Chipmaker Intel slumped 11.7% after reporting disappointing revenue.

Snapchat’s parent company, Snap, plunged 26.6% after reporting weak revenue and disclosing that its ad sales are being hurt by a privacy crackdown that rolled out on Apple’s iPhones earlier this year. Facebook fell 5.1% and Twitter lost 4.8%. Google’s parent, Alphabet, declined 3%.

The three major indexes post their third weekly gain after investors were encouraged by mostly solid corporate results.

Also Friday, Federal Reserve Chair Jerome Powell said industrial supply chain problems have gotten worse and will likely keep inflation elevated well into next year.

Investors are looking for clues as to how companies are navigating supply chain problems and rising costs for materials, transportation and other goods and services. Many companies have warned higher costs will hurt operations.

Powell also said the Fed isn’t prepared to lift its benchmark interest rate from near zero. But he suggested the economy might be ready fo ra rate hike next year.

In energy markets, benchmark U.S. crude rose 95 cents to $84.71 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.26 to $83.76 on Friday. Brent crude, used as the price basis for international oils, lost 4 cents to $85.49 per barrel in London. It rose 92 cents the previous session to $85.53.

The dollar gained to 113.75 yen from Friday’s 113.44 yen. The euro rose to $1.1661 from $1.1637.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Image: A cargo ship is stuck under the part of the structure of the Francis Scott Key Bridge after ...

Associated Press

Authorities identify 2 bodies recovered at site of Baltimore bridge collapse

A major bridge in Baltimore snapped and collapsed after a container ship rammed into it early Tuesday, and several vehicles fell into the river below.

16 hours ago

Photo: Mountaineer Jim Whittaker has died at 95....

Gene Johnson, The Associated Press

Lou Whittaker, among the most famous American mountaineers, has died at age 95

Lou Whittaker, a legendary American mountaineer who helped lead ascents of Mount Everest, K2 and Denali, has died at age 95.

17 hours ago

File photo: Former Sen. Joe Lieberman speaks in Washington on Jan. 18, 2024....

Associated Press

Former Sen. Joe Lieberman, Democrats’ VP pick in 2000, dead at 82

Former U.S. Sen. Joe Lieberman of Connecticut, who nearly won the vice presidency on the Democratic ticket with Al Gore in 2000, has died.

17 hours ago

islamic state attack...

Vanessa Gera, The Associated Press

What we know after the Islamic State group claims responsibility for Moscow massacre

The Islamic State group has claimed responsibility for an attack on a suburban Moscow concert hall that killed at least 133 people.

4 days ago

Moscow shooting...

The Associated Press

Russia: 60 dead, 145 injured in concert hall raid; Islamic State group claims responsibility

Assailants burst into a concert hall in Moscow on Friday and sprayed the crowd with gunfire, killing over 60 people, injuring more than 100.

6 days ago

Photo: Britain's Kate, Duchess of Cambridge visits 282 (East Ham) Squadron, RAF Air Cadets, Cornwel...

Associated Press

Kate Middleton announces she has cancer, is undergoing chemotherapy

Kate Middleton, Princess of Wales, says she is undergoing chemotherapy to treat cancer. She has been out of view since Christmas.

6 days ago

Asia stocks mixed after Wall St slips, China travel curbs