SINGAPORE : Asian stocks rallied on Friday as strong corporate earnings helped lift sentiment even as worries over economic weakness lingered, while investors were also waiting on a policy decision from the Bank of Japan.
China shares eased, while Hong Kong's Hang Seng index was 0.5 per cent higher. Geopolitical tensions along with worries over the global economic outlook have crimped investor sentiment in recent weeks. The core PCE data, one of the measures of inflation tracked by the Federal Reserve, caught markets' attention, Nugent said. The core PCE price index jumped at a 4.9 per cent rate after advancing at a 4.4 per cent pace in the prior quarter.
Markets are pricing in an 85 per cent chance of the Fed raising interest rates by 25 basis points at its meeting next week, the CME FedWatch tool showed. Traders expect the hike to be the last in the U.S. central bank's fastest monetary policy tightening cycle since the 1980s. Investors have dialled down wagers on a policy shift, opening a window of calm that ironically affords governor Ueda a chance to move quickly.
"While no policy change is expected, the focus will be on the outlook/guidance and any potential review of the central bank's longer-term performance and monetary policy settings," said ActivTrades market analyst Anderson Alves.
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.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »