Investing.com-- Most Asian stocks kept to a tight range on Friday amid increased caution over U.S. interest rate cuts, while investors digested mixed economic readings from Japan and China.
His comments, coupled with strong inflation data released this week, saw traders sharply pare bets on a December rate cut. U.S. stock index futures also fell in Asian trade, while the dollar and Treasury yields rose.grew much more than expected, buoyed largely by the Golden Week holiday. The reading pushed up some hopes that retail spending will improve further, especially as Beijing mobilizes more stimulus.
The weak reading pushed up hopes that the Bank of Japan will have little headroom to raise interest rates further, especially in the face of increased political uncertainty. Sentiment towards broader Asian markets was also dented by the prospect of a Trump presidency, given that he has proposed increased tariffs on all imports to the U.S. China is likely to be the worst hit by these tariffs, with Trump proposing a 60% duty.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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