Asian stocks made broad gains on Thursday, extending an overnight global rally, while oil prices steadied at levels not seen since before Russia's invasion of Ukraine.
"Today for Asia it's really a story of whether zero-COVID will continue to impact the Chinese economy, which will of course have a spillover effect in terms of imports," said Gary Ng, senior economist at Natixis in Hong Kong.Markets are awaiting a speech by Federal Reserve Chairman Jerome Powell later today for signs of any let-up in the central bank's hawkish approach to tackling inflation.
CME Group's Fedwatch tool currently shows that expectations for a third successive 75-basis-point interest rate hike are at about 78 per cent, up from 69 per cent a week ago.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US data sends Asian stocks lower; China trade disappointsHONG KONG :Asian stocks fell on Wednesday as investors took no cheer from strong U.S. economic data and as weaker-than-expected Chinese trade numbers pressed the yuan lower.China's exports growth slowed in August, as surging inflation crimped overseas demand and fresh COVID curbs and heatwaves disrupted produ
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Japan Finance Minister says watching rising FX volatility with 'sense of urgency'TOKYO :Japanese Finance Minister Shunichi Suzuki said on Tuesday sharp yen moves were 'undesirable' and he was watching rising volatility in the currency market with a 'great sense of urgency'.The yen has fallen more than 20 per cent since the start of this year, driven by monetary policy divergence between J
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Japan concerned about 'rapid, one-sided' moves in FX market - top spokespersonTOKYO :Japan's government wants to act if 'rapid, one-sided' moves seen in the currency market recently continue, the country's top government spokesperson warned on Wednesday after the yen slid to a fresh 24-year low.The comments marked officials' latest verbal warning against the fall of the yen, which drop
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »