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Asia shares falls on worries over inflation, Fed outlook

Asia shares falls on worries over inflation, Fed outlook

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Global Business Review Magazine
Thursday, March 23, 2023
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Asia shares falls on worries over inflation, Fed outlook

Asia shares falls on worries over inflation, Fed outlook

FILE PHOTO: A man wearing a facial mask, following the coronavirus disease (COVID-19) outbreak, stands in front of an electric board showing Nikkei (top in C) and other countries stock index outside a brokerage at a business district in Tokyo, Japan, January 4, 2021. REUTERS/Kim Kyung-Hoon

Asian shares declined in early trade as Wall Street retreated on worries about accelerating inflation. This prompted investors to cut back on their exposure to growth-focused stocks on bets of higher interest rates in the not-too-distant future.

A host of Federal Reserve speakers will likely to give markets plenty to consider as policymakers assess how best to respond in this pandemic situation in some economies. When the Labour Department releases its latest consumer price index, a test case on U.S. inflation is likely to come.

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Household wealth anticipation has declined, claim by global poll

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Hong Hao, head of research at BoCom International said that the markets reversed its course overnight as inflation fears drove investors away from growth stocks and notably the tech stocks, to pick cyclicals. He also added that the Asian markets today will follow the U.S. trend and several Chinese tech stocks will in particular be under big pressure because of the pending antitrust penalty. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.7%, with Australian stocks off 1.2% and Tokyo’s Nikkei 2.63% lower in early trade.

Wall Street closed lower as inflation jitters drove investors away from market-leading growth stocks in favour of cyclicals, which stand to benefit most as the economy gathers momentum. Speculation that growing price pressure would erode the dollar’s value kept the U.S. currency near a 2-1/2-month low. As investors adjust their expectations for when the U.S. Federal Reserve will start tapering bond purchases and raising interest rates as the U.S. economy gains momentum, treasuries and the dollar have swung back and forth.

The two-year yield, touched 0.1528% compared with a U.S. close of 0.153%. Oil prices gave up earlier gains as concerns that rising covid cases in Asia will dampen demand outweighed expectations that a major U.S. fuel pipeline could restart within the week following a cyber-attack. 

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Recent News

Data shows that US inflation cooling

Household wealth anticipation has declined, claim by global poll

Support measures push Japanese corporate bankruptcies to 50 year low

How is the bond yield controlled in Japan?

BOJ’s Kuroda signals readiness to extend pandemic-aid scheme

Policy takes the u-turn; BoJ’s yield curve may slip

Asia shares falls on worries over inflation, Fed outlook

Stocks are calm ahead of a possible CPI hurricane

Artificial intelligence to take on the Aviation industry too

Normalcy wished to revert to airlines after FFA blackout

Dollar dented as consumer sentiment dives

Dollar declines on expectations of weaker US rate increases and China’s resumption

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

  • Household wealth anticipation has declined, claim by global poll
  • How is the bond yield controlled in Japan?
  • Policy takes the u-turn; BoJ’s yield curve may slip
  • Stocks are calm ahead of a possible CPI hurricane
  • Normalcy wished to revert to airlines after FFA blackout

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