Currency traders work near the screens showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Wednesday, Aug. 23, 2023. Asian markets were trading mixed Wednesday ahead of Fed Chair Jerome Powell's highly anticipated speech later in the week.
Japan's benchmark Nikkei 225 added 0.5% to finish at 32,010.26. Australia's S&P/ASX 200 gained 0.4% to 7,148.40. South Korea's Kospi slipped 0.4% to 2,505.50. Hong Kong's Hang Seng gained 0.3% to 17,845.92, while the Shanghai Composite dropped 1.3% to 3,078.40. The hope among traders is that Powell would indicate the Fed is done hiking interest rates for this cycle and that it could begin cutting them next year. But strong reports on the economy recently have hurt such hopes. A solid job market and spending by U.S. households could be feeding more fuel into pressures that push upward on inflation.
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:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Asian shares are mixed ahead of Fed Chair speech and Nvidia earningsAsian markets are trading mixed ahead of Fed Chair Jerome Powell’s highly anticipated speech later in the week.
Source: AP - 🏆 728. / 51 Read more »
Stock market today: Global stocks up as traders await Fed conference for interest rate updateGlobal stock markets are higher as traders look ahead to the Federal Reserve’s summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation.
Source: ksatnews - 🏆 442. / 53 Read more »
Stock market today: Global stocks up as traders await Fed conference for interest rate updateGlobal stock markets are higher as traders look ahead to the Federal Reserve’s summer conference for signs of whether the U.S. central bank thinks inflation is under control or more interest rate hikes are needed to cool inflation.
Source: wjxt4 - 🏆 246. / 63 Read more »
Stock market today: Global shares are mixed ahead of Fed Chair Powell's speech and Nvidia earningsGlobal markets are trading mixed ahead of Fed Chair Jerome Powell’s highly anticipated speech later in the week.
Source: wjxt4 - 🏆 246. / 63 Read more »
Asian Stock Market: Most stock markets rise on technology stocks recoveryThe Asian stock markets experienced an uptick on Tuesday propelled by the rebound of technology stocks. However, concerns regarding the tightening of
Source: FXStreetNews - 🏆 14. / 72 Read more »