TOKYO : Asian shares extended a global slump on Friday after the fastest U.S. inflation in four decades and a hawkish European Central Bank bolstered expectations for more aggressive rate hikes, hammering sentiment already stung by the Ukraine war.
In morning trade in Asia, MSCI's broadest index of Asia-Pacific shares outside Japan skidded 1.7per cent, as a retreat on Wall Street spilled over on many of the region's country benchmarks, which turned deeply red. Outside Hong Kong, the losses in Chinese shares were smaller, with the country's blue-chip index down 1.3per cent.
"Disappointingly, although widely expected, Russia-Ukraine talks failed to yield a positive outcome," said Rodrigo Catril, a senior foreign exchange strategist at NAB in Sydney. While markets widely expect the U.S. Federal Reserve to raise the Fed funds target rate by 25 basis points at the conclusion of next week's monetary policy meeting, the CPI data suggested the FOMC could move"more aggressively" to curb inflation, as promised by Fed Chair Jerome Powell last week.
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:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chinese regulator confident it can resolve US-listed China stocks' audit issuesSHANGHAI : China's securities regulator said on Friday it is confident it will reach an agreement with U.S. counterparts on securities supervision, after U.S.-listed Chinese stocks tumbled as the first Chinese firms to be potentially de-listed were named.Earlier this week, the U.S. Securities Exchange Com
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Malaysia end-Feb palm oil stocks falls 2per cent to 1.52 million tonnes - MPOBKUALA LUMPUR : Malaysia's palm oil stocks at the end of February contracted 2per cent from the previous month to 1.52 million tonnes, data from the industry regulator, the Malaysian Palm Oil Board (MPOB) showed on Thursday.Crude palm oil production declined 9.26per cent from January to 1.14 million tonnes
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Japanese stocks see biggest weekly foreign outflow in five weeksForeign investors stepped up selling in Japanese stocks last week, as the intensifying war in Ukraine pushed up oil and other commodity prices, heaping further inflationary pressures on economies worldwide.Outsiders sold Japanese stocks for a third straight week, worth 379.64 billion yen ($3.27 billion) i
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
3 Singapore Stocks That Have Doubled Their Dividends or MoreIf you're looking for stocks that pay out higher dividends, look no further than these three companies. The post 3 Singapore Stocks That Have Doubled Their Dividends or More appeared first on The Smart Investor.
Source: YahooSG - 🏆 3. / 71 Read more »