Stocks stalled as oil fuels inflation nerves

SYDNEY : Asian stockmarkets were becalmed on Wednesday as surges in oil and Chinese factory prices added to worries that a hot U.S. inflation reading could renew pressure on policymakers to lift interest rates.

MSCI's broadest index of Asia-Pacific shares outside Japan and Japan's Nikkei each dropped 0.2per cent in and Overnight on Wall Street a long rally paused, with the Nasdaq logging its first fall in a dozen sessions. [.N]U.S. data due at 1330 GMT is expected to show consumer prices galloping higher at 5.8per cent year-on-year and even dovish Federal Reserve officials Neel Kashkari and Mary Daly have conceded it is running hotter for longer than they expected.

"A firm read can add a bit more fuel to the flattening," the NatWest analysts said."But I would argue that at this stage, a weak CPI number wouldn't be enough to ease markets into thinking the Fed will hold back." The Japanese currency held there on Wednesday at 112.84 per dollar and risk-sensitive currencies such as the Australian dollar were under pressure, with the Aussie testing support at its 50-day moving average of US$0.7374. [FRX/]

Bonds in the sector had suffered a fresh pounding on Tuesday, with the sell-off dragging in even investment-grade debts.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian stocks extend global gains ahead of US inflation testHONG KONG : Asian shares followed Wall Street higher in early trade on Tuesday as the passage of a U.S. infrastructure bill boosted sentiment while oil prices gained on the outlook for energy demand in an expansive global economy.The congressional passage of a long-delayed U.S. US$1 trillion infrastructur
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Asia stocks mixed, US inflation test loomsSYDNEY : Asian share markets were mixed on Monday as risk assets found support from the upbeat U.S. October payrolls report, but faced another test later in the week from a reading on U.S. inflation that could spook the rate horses.The congressional passage of a long-delayed U.S. US$1 trillion infrastruct
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Asia stocks mixed, US inflation test loomsSYDNEY : Asian share markets were mixed on Monday as risk assets found support from the upbeat U.S. October payrolls report, but faced another test later in the week from a reading on U.S. inflation that could spook the rate horses.The congressional passage of a long-delayed U.S. US$1 trillion infrastruct
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Asian stocks extend global gains ahead of US inflation testHONG KONG : Asian shares followed Wall Street higher in early trade on Tuesday as the passage of a U.S. infrastructure bill boosted sentiment while oil prices gained on the outlook for energy demand in an expansive global economy.The congressional passage of a long-delayed U.S. US$1 trillion infrastructur
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »