Stocks wobble on Walmart warning, looming Fed hike

HONG KONG : Asian shares wobbled on Tuesday and bonds were firm as a profit warning from Walmart put consumption and company earnings under a cloud ahead of what is likely to be another sharp U.S. interest rate hike.

Investors are also awaiting a likely 75 basis point Federal Reserve interest rate increase later this week - with markets pricing about a 10 per cent risk of a larger hike, as well as waiting to see whether economic warning signs prompt a shift in rhetoric. Chinese stocks managed small gains, with Hong Kong's Hang Seng Index up 0.4 per cent and China's benchmark CSI300 Index up 0.3 per cent in early trade.

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