A person looks at an electronic stock board showing Japan’s stock princes at a securities firm Tuesday, April 2, 2024, in Tokyo. Asian shares were mixed on Tuesday after Wall Street pulled back from its record following a shaky day of trading, putting at least a temporary halt to its huge rally since Halloween. A person walks in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Tuesday, April 2, 2024, in Tokyo.
In Asian trading, Hong Kong gained 2.4% to 16,931.52. The Shanghai Composite index edged 0.1% lower to 3,074.96. Treasury yields spurted higher after a report said U.S. manufacturing unexpectedly returned to growth last month. It snapped a 16-month run of contraction, according to the Institute for Supply Management.
The Fed has hiked its main rate to the highest level since 2001 in order to slow the economy and hurt investment prices enough to get inflation under control. Expectations for coming cuts have been a major reason the S&P 500 soared more than 20% from October through March.
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Source: AP - 🏆 728. / 51 Read more »