Passersby wearing protective face masks are reflected on a stock quotation board outside a brokerage, amid the coronavirus disease outbreak, in Tokyo - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.
That will change on Wednesday with a raft of Chinese data, including third quarter GDP. Perhaps the most important event in Asia on Tuesday will be the release of the minutes of the Reserve Bank of Australia's policy meeting this month. There are signs the positive correlation between U.S. stocks and bonds might be weakening, but some context is required - it has been positive since early August, and only a couple of weeks ago was as strong as it has ever been.
It's a bold call. Or perhaps not, if you buy this scenario: the Fed is done raising rates, economic data points to a 'soft landing', the worst of the earnings slowdown is behind us and the 2024 outlook is indicating double-digit earnings growth.Or does Wall Street's resilience conduct investment flows into the U.S.
That said, investors in Asia should keep a close eye on the dollar, which is still trading up near 150.00 yen and over 7.30 yuan.- Russian President Putin visits Chinese President Xi in Beijing -- Lithium giant Albemarle Corp. has walked away from its A$6.6 billion takeover of Liontown Resources Ltd., after Australia’s richest woman built up a blocking minority and effectively scuppered one of the largest battery-metals deals to date.
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