Asian stocks slip as investors eye central bank hikes

NEW YORK, Jan 31 — Asian shares traded cautiously and bonds nursed small losses today as investors braced for an eventful week that includes central bank meetings, a slew of earnings reports and key US economic data.

“It’s a big week for both central banks and US equities, with ... some of the household names due to make earnings announcements that will provide a micro overview of the macro economy,” ANZ analysts said in a note. Yesterday, US stocks lost ground with the major indexes sinking, weighed down by declines in technology and other giant corporations’ shares.

At the end of the Fed’s two-day policy meeting on Wednesday investors will be glued to Chair Jerome Powell’s news conference for clues on whether the rate-hiking cycle may be coming to a close, and for signs of how long rates could stay elevated. The two-year yield, which rises with traders’ expectations of higher Fed fund rates, touched 4.2402 per cent compared with a US close of 4.261 per cent.

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