News Formal

Asia stocks slide as Fed rate concerns grow

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

Ireland News News

Asia-Pacific stocks head for second weekly loss as dollar gains ground

A person riding an escalator is reflected at the SGX headquarters in Singapore, on February 7 2023. Picture: Nicky Loh/Bloomberg

MSCI’s broadest index of Asia-Pacific shares sank 0.54% and was on course for a 1% weekly decline, after losing 1.16% in the previous week. “Powell maintained a relatively dovish tone, and markets took that as a green light to rally, but pretty much 24 hours later we got a stream of extremely hawkish Fed speak,” said Tony Sycamore, a strategist at IG.

 

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:

 /  🏆 12. 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.

International Finance: Asia stocks follow US shares higher, dollar steady: markets wrapStocks in Asia edged higher on Wednesday following a late rally in US shares in a volatile session after Federal Reserve chair Jerome Powell rebuffed an opportunity to tamp down investor optimism.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Asian equities headed lower, stung by Fed hawks: markets wrapStocks in Asia edged lower on Thursday as hawkish comments from Federal Reserve officials prompted investors to rethink expectations about US peak rates.
Source: dailymaverick - 🏆 3. / 84 Read more »