SINGAPORE : Asian stocks struggled to come off two-month lows on Wednesday and the safe-haven dollar was firm as concerns about rising interest rates and slowing global growth kept the mood downbeat, while markets waited on economic data to chart the course ahead.
China manufacturing data came in stronger than expected, lending a little support to the Chinese yuan. U.S. ISM PMI figures are due later in the day. Hotter-than-expected inflation readings in Europe overnight drove bond selling, before weaker-than-expected U.S. confidence figures offered perhaps a glimmer of hope that rate hikes are biting and are perhaps within striking distance of peaking.
Commodities steadied as China demand hopes balance global growth concerns, and Brent crude sat at $83.45 a barrel.
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