Asian equities get boost from rise in China stocks

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

Hong Kong’s Hang Seng index climbs 3% after US stocks close lower for a fourth consecutive session

Singapore — Asian equities rose on Friday, boosted by Hong Kong and China stocks, while the dollar was set for its best week in more than a month as investors priced in the prospect of the Federal Reserve taking interest rates above 5% next year.

Global stocks have been rattled since comments from Fed chair Jerome Powell on Wednesday that it was “very premature” to be thinking about pausing its rate hikes, putting a lid on any lingering investor hopes of a near-term pivot. “The sensitivity of the Fed to improving financial conditions is seemingly quite high and we think is likely to remain so while inflation is too high for its liking,” Citi adding, noting that it was not a good set up for risky assets.

In the currency market, sterling edged up 0.1% to $1.1170, after sliding 2% overnight when the Bank of England raised interest rates by the most since 1989, but warned a long recession looms.

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:

 /  🏆 12. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Blitzboks ready for business in Hong KongSA raring to go for World Rugby Sevens Series opening tournament, says captain Siviwe Soyizwapi
Source: BDliveSA - 🏆 12. / 63 Read more »