Market Updates
Asian Markets Ease, Berkshire Hathaway Hikes Trading House Stakes In Japan
Arjun Pandit
21 Nov, 2022
Mumbai
Asian markets closed lower and inflation worries partly fueled by the rising U.S. dollar coupled with the rising tensions between Russia and NATO nations over the weekend.
The Nikkei index in Tokyo traded sideways and Japanese stocks were in focus after Warren Buffett controlled Berkshire Hathaway increased stakes in five largest trading houses.
Marubeni gained 1.2%, Mitsubishi Corp jumped 4.4%, Mitsui & Co increased 0.2%, Sumitomo Corp advanced 1.2% and Itochu Corp advanced 0.9%.
The Nikkei 225 index edged up 0.2% to 27,944.79, the Shanghai Composite index decreased 0.4% to 3,085.04, the Hang Seng Index dropped 1.9% to 17,655.91 and the Sensex index edged down 0.9% to 61,144.84.
Stocks in India traded lower on general weakness in international markets and rising worries that foreign investors are likely to accelerate funds withdrawal and repatriate on rising U.S. rates.
Archean Chemical advanced 12% to 458.15 rupees after the company raised about $180 million and priced its initial public offering for 407 rupees or $5.0 a share.
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