SINGAPORE - Asian shares slipped on Wednesday as a stellar rebound in world stocks paused for breath, while bond yields and the dollar fell ahead of U.S. economic data and speeches from policymakers that are expected to make the case for interest rate cuts.
Japan's Nikkei fell 1% at the open as a recovery from its collapse in early August runs into resistance around the 38,000 level, and more gains in the yen dented sentiment. Later on Wednesday preliminary revisions to U.S. labour data are due to be published and a large downward revision is expected, which would support cutting interest rates. On Thursday, U.S. and global purchasing managers' index surveys are due.
Interest rate futures have priced a 25 basis point U.S. rate cut next month, with a 1/3 chance of a 50 bp cut. Almost 100 bps in cuts are priced this year, and another 100 bps next year. The mood kept bond markets supported and 10-year U.S. Treasury yields nudged lower to 3.81%, while two-year yields hovered at 3.9962%.
China's oil demand growth is down this year, mostly due to the country's massive shift to EVs and natural gas, analysts from Goldman Sachs say.Wyoming Republican primary voters opted Tuesday to stick with long-serving U.S. Sen. John Barrasso and U.S. Rep. Harriet Hageman, the first-term congresswoman who ousted Liz Cheney two years ago.Ken Chenault, the former CEO of American Express, offered a business leader's perspective of Kamala Harris at the DNC convention. Watch the speech.
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: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: globeandmail - 🏆 5. / 92 Read more »
Source: globebusiness - 🏆 31. / 66 Read more »