Business Maverick: Asian equities swing lower, led by China tech: markets wrap

📆 2/03/2023 5:02 PM
📰 dailymaverick

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A gauge of Asian stocks dipped, led by declines in Hong Kong-listed technology shares, and US equity futures dropped as traders continued to digest more hawkish comments by Federal Reserve officials.

it may reach 6%. That’s spilling over into markets around the world, even as China’s economy shows signs of rebounding strongly after exiting its Covid-Zero policy.

Yet she warned that this good news has a negative side in terms of global inflation: “The China reopening story adds cyclical upside pressure because of the sheer amount of demand that China can create.” The dollar rose against its G10 counterparts after a gauge of greenback strength dropped 0.5% on Wednesday, the most in a month.

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Business Maverick: Frightful February ends ‘buy everything’ callsIn just one month, emerging Asian assets have gone from a buy to sell. And all signs point to continued caution in March.
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