International Finance: Asian stocks fluctuate as traders weigh rates path: markets wrap

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 84%

United States News News

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

Equities in Asia were mixed on Monday after heavy selling on Wall Street late last week as investors ratcheted up forecasts for US interest rates following hot inflation data.

Shares dropped in Australia and South Korea while fluctuating in China and Japan. Hong Kong’s Hang Seng Index initially looked on course to erase its advance for 2023 before swinging marginally higher, helped along by a jump of as much as 20% in shares of Haidilao International Holding following an upbeat profit forecast.

price index, the Federal Reserve’s favoured inflation gauge. The PCE data release on Friday prompted a swift repricing of interest rate forecasts, with traders now pricing US rates to peak at 5.4% this year, compared to expectations held just a month ago of rates to peak at less than 5%. The yen strengthened against the dollar after a sharp fall on Friday. Bank of Japan governor nominee Kazuo Ueda is speaking again in the Japanese parliament on Monday. Inflation data released last week showed prices in the nation were rising at the fastest pace inThe yield on the 10-year Treasury dipped by one basis point in Asia on Monday after a jump of seven basis points Friday. Elevated yields continued to support the dollar, with a gauge of greenback marginally lower after rising 0.

 

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

 /  🏆 3. in US

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