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Asian stocks jump after Powell hints at rate hike slowdown

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SINGAPORE : Asian equities jumped on Thursday, while the dollar slid as investors poured into risky assets after Federal Reserve Chair Jerome Powell opened the door to a slowdown in the pace of monetary tightening.In an eagerly-awaited speech, Powell said the central bank could scale back the pace of its

SINGAPORE : Asian equities jumped on Thursday, while the dollar slid as investors poured into risky assets after Federal Reserve Chair Jerome Powell opened the door to a slowdown in the pace of monetary tightening.

Japan's Nikkei opened 1 per cent higher while Australia's S&P/ASX 200 index rose 0.85 per cent. E-mini futures for the S&P 500 rose 0.20 per cent. Mainland China stocks opened up 1.2 per cent and Hong Kong shares rose 2.5 per cent in early trade after they closed higher on Wednesday following the easing of COVID-19 measures in Guangzhou city.

The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 5.2 bps at 4.321 per cent.

 

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