US EditionStocks Lower on Uncertainty over Tech Rally, US Rates
Fed Chair Jerome Powell’s comments dampened hopes for rate cuts, prompting declines in Asian markets and a 9% drop in Japanese cosmetics firm Shiseido, amid China-Japan tensions.
- On Monday, Asian markets mostly fell after a tepid Wall Street lead, with Hong Kong, Shanghai, Sydney and Singapore dropping while Seoul, Manila and Taipei advanced.
- Federal Reserve officials signalled a rate cut next month is uncertain, with Jerome Powell saying a third-straight reduction is not guaranteed amid US jobs market weakness and tech valuation worries.
- All eyes are on Nvidia, which is in focus after becoming the first $5 trillion company this month, while bitcoin briefly dropped to $92,935.51 below the $93,714,000,000 mark on December 31.
- Diplomatic tensions between China and Japan and China’s travel advisory hurt tourism and retail, hitting Shiseido, Takashimaya and Fast Retailing as Japan’s economy shrank 0.4 percent.
- Traders are keenly awaiting jobs and inflation reports delayed by the government shutdown and Nvidia's earnings this week as gains have petered out in recent weeks.
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77 Articles
Asia markets mixed amid tech rally
Hong Kong, Shanghai and Singapore all declined, though Seoul, Manila, Bangkok, Wellington and Taipei gained Asian markets were mixed Monday, while fears of a bubble continue to weigh on sentiment. The tepid mood on trading floors also dragged on the crypto sector, with bitcoin briefly erasing all its gains this year – just over a month after hitting a record high. Meanwhile, simmering tensions between China and Japan hit tourism and retail firms…
Asian stocks: Smoldering concerns and Sino-Japanese tensions hamper Asian stock markets struggled on Monday due to simmering concerns that the US central bank, the Federal Reserve, will
Asian Currencies Plummet As Federal Reserve Dashes Rate Cut Hopes Amid Shocking Japan GDP Contraction
BitcoinWorld Asian currencies plummet as Federal Reserve dashes rate cut hopes amid shocking Japan GDP contraction Asian currencies are facing intense pressure as traders dramatically scale back expectations for Federal Reserve interest rate cuts, while Japan’s surprising third-quarter GDP contraction sends shockwaves through regional markets. This perfect storm of monetary policy uncertainty and economic weakness is creating treacherous conditi…
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Hedge funds have continued to reduce their equity exposure, hitting the lowest levels in over a year. Meanwhile, retail investors have persistently been net buyers, providing crucial support that has helped sustain the market's upward trajectory despite institutional selling pressure.... Article link
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