• Latest
  • Trending
After hawkish fed minutes, the Asian shares fall

After hawkish fed minutes, the Asian shares fall

Global economies struggle as oil supplies tighten, volatile stakes

Oil prices see a surge, supply concerns to aid in the cause

S & P 500 ends at record high as Wall Street rises

Wall St futures tumble, dollar holds its ground against tides

OPEC+ members face issues of tight oil supplies

OPEC+ members face issues of tight oil supplies

U.S. energy companies shudder after economic and climate warnings

U.S. energy companies shudder after economic and climate warnings

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank strikes Gold at Technnovation Awards 2022

Russia evades default through sheer force of will; Kremlin speaks

Russia evades default through sheer force of will; Kremlin speaks

Global economies struggle as oil supplies tighten, volatile stakes

G7 fixate on stricter sanctions to impose on Russia, oil rates wobble

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank empowers local youth with People’s Spark Entrepreneurship Development Programme

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

Russia may be driven into default, Eurobonds due in payment

Russia may be driven into default, Eurobonds due in payment

Asia shares falls on worries over inflation, Fed outlook

An insightful glimpse of the market during the inflation period

Russia’s Sovcomflot managed to strike deals despite sanctions

Russia’s Sovcomflot managed to strike deals despite sanctions

Global Business Review Magazine
Wednesday, July 6, 2022
Nominate Here
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine
No Result
View All Result
Global Business Review Magazine
No Result
View All Result

After hawkish fed minutes, the Asian shares fall

After hawkish fed minutes, the Asian shares fall

Asian shares fell, extending a global slump after Federal Reserve meeting minutes pointed to a faster-than-expected rise in U.S. interest rates. This is due to concerns about persistent inflation. Worries over higher U.S. rates combined with growing concerns about the rapid spread of the Omicron coronavirus variant to weigh on riskier assets.

Asian shares took their cue from overnight losses on Wall Street. The Nasdaq plunged more than 3%. The S&P 500 fell the most since Nov. 26, when news of the Omicron variant first hit global markets. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.95%, Australian shares slid 1.53% and Japan’s Nikkei stock index fell 2.08%. Chinese blue-chips fell 1.37% as a private sector survey showed China’s service sector activity expanded more quickly, but continuing COVID-19 outbreaks weighed on the outlook.

YOU MAY ALSO LIKE

Wall St futures tumble, dollar holds its ground against tides

U.S. energy companies shudder after economic and climate warnings

An investor rotation out of technology continued to hit high-profile names, with Sony Group slumping 6.8%. Carlos Casanova, senior economist for Asia at Union Bancaire Privee in Hong Kong said that there is a risk that the Fed might fall into the trap of making policy errors. This is because they do have to perhaps hike interest rates faster than expected. Given the timing of their exit from quantitative easing, it could coincide with a slowdown in the economic cycle and also a decline in inflation on base effects.

Also, if they are pricing in a faster price pace of Fed tapering. That doesn’t translate well for Asian asset classes, so they are likely going to see more outflows from the region. This will translate both into weaker equities and also depreciatory pressures on the FX front. Fed policymakers said in the meeting that a very tight job market and unabated inflation might require it to raise interest rates. They begin reducing its overall asset holdings as a second brake on the economy. Fed officials were uniformly concerned about the pace of price increases that promised to persist.

The more hawkish than expected views of U.S. central bank officials also pushed U.S. Treasury yields higher. The U.S. 10-year yield remained elevated at 1.6929%. U.S. 2-year and 5-year yields, which are more sensitive to rate hike expectations. This hovered near their highest levels since the first quarter of 2020. Higher U.S. yields continued to support a firm dollar. Though the currency gave back some ground against the yen after touching five-year highs, falling 0.13% to 115.95. The euro held steady at $1.1311 and the dollar index was little changed at 96.161.

Global benchmark Brent crude fell 1.26% to $79.78 per barrel. U.S. crude dipped 1.07% to $77.02 a barrel after OPEC+ producers agreed to boost production. Spot gold was stable at $1,808.90 per ounce.

Tags: AsiafinanceShare Market
ShareTweetShare

Search

No Result
View All Result

Recent News

Global economies struggle as oil supplies tighten, volatile stakes

Oil prices see a surge, supply concerns to aid in the cause

S & P 500 ends at record high as Wall Street rises

Wall St futures tumble, dollar holds its ground against tides

OPEC+ members face issues of tight oil supplies

OPEC+ members face issues of tight oil supplies

U.S. energy companies shudder after economic and climate warnings

U.S. energy companies shudder after economic and climate warnings

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank strikes Gold at Technnovation Awards 2022

Russia evades default through sheer force of will; Kremlin speaks

Russia evades default through sheer force of will; Kremlin speaks

Global Business Review Magazine

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

Recent News

  • Oil prices see a surge, supply concerns to aid in the cause
  • Wall St futures tumble, dollar holds its ground against tides
  • OPEC+ members face issues of tight oil supplies
  • U.S. energy companies shudder after economic and climate warnings
  • People’s Bank strikes Gold at Technnovation Awards 2022

Categories

  • Banking
  • Business
  • Events
  • Finance
  • FinTech
  • Tech
  • Videos
  • About
  • Nominate
  • Privacy & Policy

© 2022 Global Business Review Magazine - All Rights Reserved.

No Result
View All Result
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine

© 2022 Global Business Review Magazine - All Rights Reserved.

Go to mobile version