A man watches stock quotations on an electronic board outside a brokerage, in TokyoHONG KONG - Asia stocks fell on Wednesday after weak economic data in China and Europe heightened concerns over global growth, while the dollar firmed as investors weighed the outlook for U.S. interest rates.Australia's S&P/ASX 200 fell 0.55% even as second-quarter gross domestic product beat forecasts with a 0.4% rise.
"The China decline was bigger than expected," said Redmond Wong, Greater China market strategist at Saxo Markets. "The Europe data were rather weak. We think there is still a high chance to have a mild recession in the U.S. and Europe toward the end of the year or beginning of next year."The yield on the benchmark U.S. 10-year Treasury note rose 9 basis points to 4.26% after reaching 4.268%, its highest since Aug. 25, while the U.S. dollar rose to a near six-month high against a basket of currencies.
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.
Asia Oil Latest: Trafigura Says Its China Oil Business Is Strong(Bloomberg) -- The outlook for oil prices, crude demand in top importer China, and the longevity of OPEC+ supply cuts are set to be among the key topics at Asia’s biggest gathering of the industry’s traders and executives, which kicked off in Singapore on Monday.Most Read from BloombergDiamond Prices Are in Free Fall in One Key Corner of the MarketMercedes Bets on Range Boost in Swipe at Tesla’s EV LeadershipBurning Man Death Under Probe With Thousands Still StrandedZelenskiy Says He’s Removing
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Asia Stocks Set to Fall as China Property in Focus: Markets WrapAsian stocks are set to open lower Tuesday, as traders return their focus to China’s efforts to halt its economic malaise after markets in the US were shut for the US Labor Day holiday.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Asia Stocks Fall as China Property Back in Focus: Markets Wrap(Bloomberg) -- Asian stocks edged lower as traders returned their focus to China’s efforts to halt its economic malaise after markets in the US were shut for the US Labor Day holiday.Most Read from BloombergHuawei Teardown Shows Chip Breakthrough in Blow to US SanctionsMercedes Bets on Range Boost in Swipe at Tesla’s EV LeadDiamond Prices Are in Free Fall in One Key Corner of the MarketStocks Cede China-Led Gains in Thin Holiday Trade: Markets WrapStocks opened lower in South Korea after inflati
Source: YahooFinanceCA - 🏆 47. / 63 Read more »