Asian stocks slip as investors eye central bank hikes

Asian shares traded cautiously and bonds nursed small losses on Tuesday as investors braced for an eventful week that includes central bank meetings, a slew of earnings reports and key U.S. economic data.

"It's a big week for both central banks and U.S. equities, with ... some of the household names due to make earnings announcements that will provide a micro overview of the macro economy," ANZ analysts said in a note. On Monday, U.S. stocks lost ground with the major indexes sinking, weighed down by declines in technology and other giant corporations' shares.

At the end of the Fed's two-day policy meeting on Wednesday investors will be glued to Chair Jerome Powell's news conference for clues on whether the rate-hiking cycle may be coming to a close, and for signs of how long rates could stay elevated. The two-year yield, which rises with traders' expectations of higher Fed fund rates, touched 4.2402 per cent compared with a U.S. close of 4.261 per cent.

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Asia shares brace for rate hikes, earnings rushSYDNEY : Asian shares started cautiously on Monday in a week that is certain to see interest rates rise in Europe and the United States, along with U.S. jobs and wage data that may influence how much further they still have to go.Earnings from a who's who of tech giants will also test the mettle of Wall S
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »