Tuesday, January 31, 2023
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Asia

Asia markets mixed as traders try to gauge Fed policy plans

MtR by MtR
June 24, 2021
in Asia
0


Asian markets were mixed yesterday with investors taking a breather after the latest rally, as they tried to assess when the Federal Reserve will begin to wind down its vast monetary easing programme.
After a troubled start to the week, equities across much of the region have enjoyed healthy gains in the past two days as US central bank chiefs looked to temper fears that record-low interest rates and colossal bond-buying were in their final throes.
Traders have for months worried that the blistering global recovery will fan inflation and force officials to act.
And the Fed – which has consistently said recent inflation spikes were temporary and it will maintain its policy as long as the economy needs – last on Wednesday suggested for the first time it could lift borrowing costs in 2023, a year earlier than initially targeted.
The past few days have seen a number of top officials try to tame expectations, which provided some solace, but traders remain nervous.
On Wall Street, the Dow and S&P 500 closed slightly lower, though the Nasdaq ended at another record high.
Asian investors jockeyed for position, with markets fluctuating through the day.
Hong Kong, Singapore, Seoul, Taipei and Mumbai all rose but Sydney, Bangkok, Jakarta and Manila fell.
Tokyo, Shanghai and Wellington were flat.
Tokyo’s Nikkei 225 closed flat at 28,875.23 points, Hong Kong’s Hang Seng Index ended 0.2% up at 28,882.46 points and Shanghai’s Composite closed flat at 3,566.65 points.
London, Paris and Frankfurt were up in early trade.
On Wednesday, a couple of Fed officials made their case for possibly tapering the bond-buying scheme by the end of this year.
Dallas Fed chief Robert Kaplan saw rate hikes as early as next year owing to the strong economic recovery and a wind-down of bond-buying soon. “As we make substantial further progress, which I think will happen sooner than people expect…
I think we’d be far better off, from a risk-management point of view, beginning to adjust these purchases of Treasuries and mortgage-backed securities,” he told Bloomberg News.
Beginning the taper earlier would provide more flexibility on future rate increases, 
he said.
He forecast inflation to hit 3.4% this year and 2.4% next year.
The Fed’s official target is 2%.
Meanwhile, Atlanta Fed boss Raphael Bostic suggested a slowdown in bond-buying in the next few months while he predicted a rate hike next year and two in 2023.
National Australia Bank’s Tapas Strickland said that while there appeared to be no major reaction to Bostic’s comments, his “move from dove to slightly hawkish should be noted and suggests a 2022 hike is a real possibility if the data makes a case for it”.
Still, OANDA’s Edward Moya added: “The Fed is still far away from substantial progress with the labour market, so Wall Street should not expect any tapering announcement until after summer is over.”
Oil prices rose again, having dipped slightly after Saudi Arabia’s energy minister Prince Abdulaziz bin Salman said Opec and other major producers had a part in “taming and containing, by making sure that this market doesn’t get out of hand”. The sharp rise in commodities this year has played a key role in the spike in inflation.
His comments come just ahead of the latest output policy meeting of the group and as crude prices sit around multi-year highs.
Some analysts have forecast they could possibly go as high as $100 as demand continues to pick up with the global recovery.

Related articles

Shares slip, dollar steady as investors await inflation data

August 10, 2022

Stocks fall, China consumer inflation rises

August 10, 2022





Source link

Related Posts

Shares slip, dollar steady as investors await inflation data

by MtR
August 10, 2022
0

People walk past a screen displaying the Hang Seng stock index outside Hong Kong Exchanges, in Hong Kong, China July...

Stocks fall, China consumer inflation rises

by MtR
August 10, 2022
0

SINGAPORE — Asia-Pacific shares fell on Wednesday as investors digest inflation data from China and look ahead to the U.S....

Forbes Asia’s Best Under A Billion 2022

by MtR
August 9, 2022
0

- This story is part of Forbes' coverage of Asia's Best Under A Billion 2022, which highlights 200 Asia-Pacific public...

Asia and US end clients pressure EM bond investors on ESG – GlobalCapital

by MtR
August 9, 2022
0

Asia and US end clients pressure EM bond investors on ESG  GlobalCapital Source link

Global Cordless Power Tools Markets Report 2022-2027

by MtR
August 9, 2022
0

DUBLIN, Aug. 9, 2022 /PRNewswire/ -- The "Cordless Power Tools Market - Global Outlook and Forecast 2022-2027" report has been added...

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021

What will Durham County education bonds pay for? A full list

July 8, 2022
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Industrial Lubricants Market to Reach $71 Billion by 2027.

August 10, 2022

Recent News

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter