SINGAPORE : Asian stocks hit a two-year low on Friday and were heading for a weekly loss, while the dollar was set for its third week of gains as a fresh slew of rate hikes around the world deepened worry about the outlook for global economic growth.
MSCI's index of Asia-Pacific shares outside Japan fell 0.5 per cent in early trade to a two-year low, dragged down by concerns about China's property market where homeowner threats to cease mortgage payments have spooked markets. Overnight, Wall Street indexes fell after weaker-than-expected earnings from JPMorgan Chase & Co and Morgan Stanley fanned fears of a sharp economic downturn.
Futures imply about a 30 per cent chance of a 100 bp hike and see the benchmark U.S. interest rate reaching about 3.6 per cent by March next year before being cut back to 3 per cent by late 2023.This week the Bank of Canada surprised markets with a 100 bp hike, central banks in South Korea and New Zealand announced 50 bp hikes and in Singapore and the Philippines authorities tightened policy out-of-cycle to tamp down on inflation.
In currency markets the U.S. dollar is king. The euro fell as low as $0.9952 overnight and has slid 1.5 per cent for the week. It last steadied at $1.0030. The yen is hurtling toward 140 per dollar, and last bought 138.85.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
Asian stocks gain as investors brace for US inflation dataHONG KONG/TOKYO : Stocks made slight gains across Asia on Wednesday while the euro hovered just above parity against the dollar as investors awaited a highly anticipated U.S. inflation report later in the global day. Futures were down ahead of European markets opening on Wednesday morning. FTSE futures sl
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »
China banks, property stocks slump as homebuyers stop mortgage paymentsSHANGHAI/SINGAPORE : Investors dumped China's banking and real estate stocks on Thursday, fearing deepening trouble in the property sector would begin to hit the financial system as a wave of homebuyers refused to repay mortgage loans for delayed projects.Bonds of Chinese developers were also sold off, as
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »
Pictet Wealth Management returns to Chinese stocks after 18-month hiatusHONG KONG : The wealth management arm of Swiss bank Pictet Group is buying Chinese equities again more than 18 months after it shunned the asset class, joining other foreign investors dipping back in as they bet on improving economic prospects and less regulatory intervention. Pictet Wealth Management Asi
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »
Apple hovers above competition even as smartphone market stumbles, sources sayThe global smartphone market may be in the toilet, but the iPhone 13 continues to sell well, and Apple Inc is expecting its upcoming iPhone 14 to do even better at launch.Apple's slightly higher expectations for the forthcoming iPhone 14 underscore a growing belief among Wall Street analysts that the Cupe
Källa: ChannelNewsAsia - 🏆 6. / 66 Läs mer »