Stocks wobble as China lockdowns drag; yen wallows

SINGAPORE : Oil and stock markets were under pressure on Wednesday on worries about the fallout from China's pandemic lockdowns, while the yen slightly extended its record losing streak as traders put Japan's ultra-easy monetary policy settings to the test.

MSCI's broadest index of Asia-Pacific shares outside Japan was steady as modest losses in Hong Kong and Shanghai offset gains in Sydney. Japan's Nikkei trimmed early gains to stand 0.5 per cent higher by mid morning."COVID lockdowns and shipping delays and backlogs may have heightened worries ," said Moh Siong Sim, a strategist at the Bank of Singapore.

Benchmark 10-year Treasury yields were within a whisker of 3 per cent on Wednesday and inflation-protected yields were in positive territory for the first time since 2020. The yen, which has tumbled at the same time as Japan - by contrast - vows to stick with ultra loose monetary policy and keep its government bond yields anchored near zero, wallowed at a two-decade low on Wednesday and fell on crosses.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

China stocks fall, unsupported by GDP, reserve-requirement cutSHANGHAI : China stocks opened down on Monday, as market participants shrugged off a cut in the reserve requirement ratio that fell below their expectations, saying it might not yet be enough to reverse economic slowdown.Unexpectedly strong gross domestic product data for the first quarter of 2022, not he
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

China stocks fall as COVID concerns eclipse GDP expansion, reserve ratio cut(correct attribution to Tommy Wu from Iris Pang in paragragh 8)SHANGHAI :China stocks fell on Monday, with investors disappointed about a smaller-than-expected cut in the reserve requirement ratio (RRR) that many felt might not be enough to reverse a sharp economic slowdown.Unexpectedly strong gross d
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Asian stocks in defensive mood on China and rate worriesHONG KONG : Asian shares traded cautiously on Tuesday, with investors weighing China's measures to cushion an economic slowdown and the prospect of aggressive Federal Reserve monetary policy tightening. Investors are also bracing for a barrage of earnings that will help them assess the impact of the Ukrai
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »