© Reuters. FILE PHOTO: Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS/Issei Kato/File Photo
China's factory activity unexpectedly contracted in October, a private survey showed on Wednesday, adding to a downbeat official manufacturing survey the previous day and raising questions over the country's fragile economic recovery at the start of the fourth quarter. "The market has seen the tweak to a flexible regime as clear dovish development," said Chris Weston, head of research at Pepperstone.
The yen strengthened 0.27% to 151.26 per dollar following the comments but remained close to one-year lows of 151.74 it touched on Tuesday. Traders will scrutinize what Fed Chair Jerome Powell says in his post-policy meeting comments to gauge the path of interest rates and how long rates will stay elevated.
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Stock market today: Asian shares slip after S&P 500 slips ahead of Fed interest rate decisionAsian shares are mostly lower ahead of a Federal Reserve decision this week on interest rates. U.S. futures gained while oil prices fell more than $1 a barrel. On Friday, stocks stumbled on Wall Street. The S&P 500 fell 0.5% and is now in what's called a correction, down 10% from the peak for this year that it hit in July. The Dow fell 1.
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Stock market today: Asian shares slip after S&P 500 slips ahead of Fed interest rate decisionAsian shares are mostly lower ahead of a Federal Reserve decision this week on interest rates.
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Stock market today: Asian shares slip after S&P 500 slips ahead of Fed interest rate decisionAsian shares are mostly lower ahead of a Federal Reserve decision this week on interest rates.
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Asian stocks dip on weak China PMIs; BOJ, Fed loom over marketsAsian stocks dip on weak China PMIs; BOJ, Fed loom over markets
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