Asian Stock Markets Dip as US Indices Fall, Despite Nikkei Gains and Rising Industrial Profits in China

Due to decline in the US indices S&P 500 and Nasdaq, most of the Asian stock exchanges weakened on Tuesday morning.

In Japan, however, the Nikkei is up a modest 0.02 percent, while the broader Topix index is up 0.41 percent.

The Shanghai Composite in China is down 0.36 percent, the Hang Seng in Hong Kong falls 0.27 percent and the Kospi in South Korea weakens 0.36 percent.

From China, it is reported that profit among the country’s industrial companies rose by 3.6 percent in January-July, compared to the same period last year.

Read the full Asia update here.

The price of oil

Brent oil for delivery in October on Tuesday morning is down 0.23 percent to 81.24 dollars per barrel, while WTI oil is falling 0.32 percent to 77.17 dollars per barrel.

In comparison, a barrel of North Sea oil was trading for 81.50 dollars per barrel at the end of the stock exchange in Oslo on Monday.

Wall Street

The arrows pointed up and down on Wall Street at Monday’s close. The broad S&P 500 fell 0.31 percent to 5,616.94, while the Nasdaq technology index fell 0.85 percent to 17,735.76. The industry-heavy Dow Jones rose 0.16 percent to 41,240.52.

“After Powell’s speech on Friday, it seems the markets are more concerned about how big the interest rate cut will be in September, and how many cuts will come throughout the autumn, rather than whether there will be any cuts at all.” at all Powell was clear in his speech at Jackson Hole on Friday that the time has come to change monetary policy,” DNB Markets wrote in an update.

PDD Holdings, the parent company of Chinese online retailer Temu, fell 28.5 percent after the company posted disappointing second-quarter results. At the same time, management stressed that revenue growth is under pressure due to increased competition.

Read the full US update here.

Oslo Stock Exchange

The main index on Oslo Børs started the day cautiously and was flat until 12 noon, but ended up 0.64 percent to 1443.61 points. Sentiment on Oslo Børs was strong compared to other exchanges – the MSCI world index was down 0.02 percent at the close of Oslo Børs.

On Monday, MPC Container Ships received a buy recommendation from Arctic, with a price target of NOK 26.9, up from NOK 21.4. The share rose 5.3 percent to NOK 23.36.

Bakkafrost lit received an operating profit of 388 million Danish kroner in the second quarter. This was far below analysts’ expectations. The highest value of the NOK share was 557.50 Euro. Grieg Seafood rose 3.3 percent to NOK 50.20.

Read the full stock exchange update here.

This is happening today:

Result per 2nd quarter:

Morrison: At 06.00, Continental Hotel at 08.00, webcast

Bouvet: At 07.00, the company building at 08.30, webcast

Capsule Technologies: Kl. 07.00, webcast kl. 08.15

Eidesvik Offshore: At 07.00, webcast at 08.30

Life Care: Kl. 07.00, hos Carnegie kl. 12.00, webcast