Stocks mostly rise before Paul Jackson Hole’s speech

Stocks in the Asia-Pacific region rose on Friday as investors looked forward to Federal Reserve Chairman Jerome Powell’s speech at Jackson Hole later in the United States.

in Australia , S & P / ASX 200 It rose 0.79% to close at 7,104.1.

Shares of Chinese technology companies rose with listings in both Hong Kong and the United States. came in the form of The Wall Street Journal reported that Washington and Beijing are close to reaching an agreement It would allow US accounting regulators to examine Hong Kong’s audit records.

Delisting fears have plagued US-listed Chinese companies in recent months due to the scrutiny dispute. in hong kong, Ali Baba Shares rose 2.13% and Baidu 2.54% profit. This compares with a rise of 1.01% to 20170.04 in the broader range Hang Seng Index.

Japan Nikkei 225 It added 0.57% to 28641.38 while Topix rose 0.15% to 1,979.59.

The Cosby In South Korea, it advanced 0.15% to 2481.03 and the KOSDAQ index fell 0.61% to 802.45.

Mainland China Shanghai boat It fell 0.31% to 3236.22, and Shenzhen Component It lost 0.366% to 12059.71.

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

“The hawkish commentary from a group of Fed speakers overnight had little effect as markets await Powell’s keynote at Jackson Hole this evening,” Taylor Nugent, an economist at National Australia Bank, wrote in a note on Friday. Fed speakers noted that the central bank’s job of fighting inflation is far from over, and that rates need to enter restrictive territory.

Overnight in the United States, the main indexes rose. The Dow Jones Industrial Average jumped 322.55 points, or 0.98%, to 3,3291.78 points. The S&P 500 rose 1.41% to 4199.12, and the Nasdaq Composite added 1.67% to 12,639.27.

A large group of Hong Kong-listed companies will report earnings, including Mituan.