Stocks ease from 3-month highs, dollar firms up on strong US data

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

SINGAPORE : Asian stocks retreated from three-month highs and the dollar held on to gains following strong U.S. data that again suggested the Federal Reserve might stick longer with aggressive interest rate increases.While investors remained hopeful of China's economy improving with the easing of the coun

SINGAPORE : Asian stocks retreated from three-month highs and the dollar held on to gains following strong U.S. data that again suggested the Federal Reserve might stick longer with aggressive interest rate increases.

Stocks in Korea and Taiwan traded lower, while China's broader index rose 0.6 per cent and Japan and Hong Kong stocks were steady. "Monetary policy works with a lag and key spot indicators such as falling housing prices, rental rates, commodities, and freight pricing as well as rising layoffs and inventories are already signalling a weakening U.S. economy," said Chi.

On Monday, the Dow Jones Industrial Average fell 1.4 per cent, the S&P 500 lost 1.79 per cent and the Nasdaq Composite dropped 1.93 per cent. Brent crude futures ticked up 0.9 per cent to $83.4 a barrel. Futures fell more than 3 per cent in the previous session after the U.S. economic data.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines