Asian stocks slip on rate worries, yen in focus

SINGAPORE - Asian shares fell on Tuesday after Federal Reserve officials cemented the view that U.S. interest rates are likely to remain elevated for some time, while the yen slid to near a one-year low, putting traders on watch for intervention from Japanese authorities.

"I remain willing to support raising the federal funds rate at a future meeting if the incoming data indicates that progress on inflation has stalled or is too slow to bring inflation to 2% in a timely way," Fed Governor Michelle Bowman said Monday in prepared remarks to a banking conference. Australia's S&P/ASX 200 index was 1.27% lower, while the Australian dollar eased 0.16% to $0.635 ahead of the policy decision from the Reserve Bank of Australia later on Tuesday, where the central bank is expected to hold rates steady.

"If it were down to us, we would wait for another month of rising inflation and the third-quarter inflation numbers. The market is not looking for any further tightening until next year."In the foreign exchange market, the focus remains on the Japanese yen as the currency inches closer to the 150 per dollar mark - a level traders have speculated could lead to intervention from the authorities.

Japanese Finance Minister Shunichi Suzuki said on Tuesday authorities were watching the currency market closely and stood ready to respond, repeating a warning against speculative moves that did not reflect economic fundamentals. Warren Buffett is perhaps the most famous investor in the world. Having earned the appellation "The Oracle of Omaha" thanks to his investing success through his company Berkshire Hathaway, Buffett now...U.S. stocks such as CrowdStrike and Datadog have the potential to outpace the broader markets and derive inflation-beating returns. The post TFSA Investors: 2 U.S. Tech Stocks to Buy and Hold Forever appeared first on The Motley Fool Canada.

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Asian Stocks Set to Fall as Traders Eye High Rates: Markets WrapAsian equities look poised for a weak open as investors contend with the prospect of global interest rates staying at their highest levels in decades.
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