Business Maverick: Tech drop in China takes Asia stocks off session high: markets wrap

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 84%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

An Asia stock gauge came off session highs on Tuesday amid a slide in Hong Kong and subdued sentiment due to the Federal Reserve’s signal of a sustained period of restrictive monetary policy to quell inflation.

A retreat in China tech stocks put Hong Kong into the red in a mixed day for the region that included a jump in Japan. US futures fluctuated after Wall Street equities added to a slump that began Friday when Chair Jerome Powell stressed the Fed is willing to let the economy suffer to cool price pressures.

In China, the central bank set a stronger-than-expected yuan fixing for a fifth day, a sign it doesn’t want an excessively weak currency. The move highlights how greenback strength is a challenge for Asia as the region’s currencies slip. Powell’s push back against market hopes for a pivot to interest-rate cuts next year is the latest setback in a challenging year for investors. The Fed this week is also set to step up the unwinding of its near-$9 trillion balance sheet. Other risks range from China’s economic slowdown to Europe’s energy crisis as Russia continues its war in Ukraine and chokes gas supplies.

 

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:

 /  🏆 3. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Business Maverick: Stocks, futures sink as dollar jumps with yields: markets wrapFederal Reserve chair Jerome Powell’s signal of higher-for-longer interest rates coursed through markets on Monday, sinking stocks and equity futures and lifting two-year Treasury yields to levels last seen in 2007.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: China arrests hundreds in country’s biggest-ever bank fraud probeHundreds of people have been arrested in China, for alleged involvement in the country’s largest ever bank fraud. China has also started repaying more victims of the $5.8 billion scandal, in a bid to maintain social stability ahead of this year’s twice-a-decade Communist Party congress. l have no idea on Bitcoin but I'm currently earning R67,458.67 weekly with R15,000 start up Capital, I'm happy to invest with Gabriel_FOS1 i just pulled out my profit,i highly recommend her to those interested Gabriel_FOS1 You're indeed a great woman,I never expected this from you,i assure you that I will bring more clients to your crypto company because of what you've done in my life,I promise to let the word know about you. Your work speaks volumes of the kind of a woman you are GregoryLillian5 Things the myanc DON’T copy from their Chinese commie NBFFs….
Source: dailymaverick - 🏆 3. / 84 Read more »