News Formal

Stocks in Asia Set to Follow Wall Street Lower on Rate Speculation

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 29 sec. here
  • 20 min. at publisher
  • 📊 Quality Score:
  • News: 78%
  • Publisher: 63%

Finance News

Stocks,Asia,Wall Street

Stocks in Asia are expected to decline following Wall Street's lead as speculation grows that major central banks will maintain higher interest rates for a longer period. Economic data and a rally in commodities have contributed to this speculation. The opening of equities in Australia was down, while futures indicated declines in Japan and little change in Hong Kong. Skepticism about the pace of Federal Reserve easing has increased due to better-than-estimated data on US job openings and factory goods orders. This has led traders to project fewer rate cuts in 2024, causing 10-year yields to reach their highest levels since November. The repricing of central-bank bets, which had been ignored by US stocks during a recent rally, has now weighed on the market.

Stocks in Asia are set to follow Wall Street lower after solid economic readings and a rally in commodities spurred speculation that major central banks will keep interest rates higher for longer. Equities opened down in Australia, while futures indicated declines in Japan and little change in Hong Kong.

Better-than-estimated data on US job openings and factory goods orders added to skepticism about the pace of Federal Reserve easing, leading traders to project fewer rate cuts in 2024 than the central bank itself and sending 10-year yields to the highest levels since November. That weighed on US stocks — which had been ignoring the repricing of central-bank bets in the last few months amid a torrid rally. "Stock bulls may find it difficult justifying buying stocks at these elevated levels as yields rise," said Fawad Razaqzada at City Index and Forex.co

 

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:

 /  🏆 47. in MY

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.

Wall Street's most bullish strategist cites a 'big surprise' pushing stocks higher: Morning BriefAs stocks rally to record highs, Wall Street strategists continue to raise their forecasts to keep pace.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Markets today: U.S. stocks rise on Wall Street's 'soft landing' hopesThe relentless rally in stocks powered ahead on optimism the Federal Reserve will be able to engineer a soft landing, which would bolster the outlook for corporate earnings.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Markets today: Stocks fall as Wall Street trims risk before FedStocks fell as traders took some chips off the table ahead of the highly anticipated U.S. Federal Reserve decision that will help shape the outlook for rate cuts this year.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stock market today: Stocks retreat as Wall Street weighs hot inflation's impact on FedInvestors are weighing whether two big hot inflation prints will prompt a Fed rethink on rate cuts as its March policy meeting looms.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »