News Formal

Asian stocks up after U.S. inflation fuels rate hike fears

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 99%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Asian stock markets rose Thursday after higher U.S. inflation stoked expectations of more rate hikes that investors worry will chill economic growth.

Shanghai, Tokyo, Hong Kong and Sydney advanced. Wall Street futures edged lower. Oil prices advanced.

“Growth fears are hitting the markets harder than inflation concerns,” said Stephen Innes of SPI Asset Management in a report. Sydney’s S&P-ASX 200 added 0.4% to 6,646.60 after official data showed employment rose more than expected in June. The Kospi in Seoul edged 0.1% higher to 2,330.74. Traders expect another Fed rate hike this month, probably matching last month's 0.75-percentage-point rise, the biggest in 28 years and three times the usual margin.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 1. in İE

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.

Stocks swoon as Treasuries sound recession alarm - BNN BloombergStocks slumped ahead of a key inflation report, with the Treasury curve inversion deepening to levels last seen in 2007 amid fears that rate hikes will sink the economy into a recession.
Source: BNNBloomberg - 🏆 83. / 50 Read more »