SINGAPORE: Asian stocks struggled to shake off contagion fears on Tuesday and selling pressure persisted amid concern that troubles at indebted developer China Evergrande could ripple across the world economy, markets and financial system.
Hong Kong's Hang Seng hit a fresh 11-month low and was down 0.3% by midsession, with a early gains in banks and property stocks paring a little. Japan's Nikkei returned from a market holiday with a drop of almost 2%.
Currency, commodity and bond markets steadied, but overall demand for riskier assets remained low especially as the Federal Reserve is expected to step closer to tapering on Wednesday.
European futures rose 0.5% in the Asia session. FTSE futures advanced 0.7% and S&P 500 futures climbed 0.6% a dayRead More »
Saturday, 27 August 2016 JACKSON HOLE, Wyo.: The Federal Reserve is getting closer to raising interest rates again, the head of the U.S. central bankand other policymakers said on Friday in comments that left the door open for a hike as early as next month. Fed Chair Janet Yellen …Read More »
Thursday, 27 July 2017 SYDNEY: Stocks, bonds and commodities were all on a roll in Asia on Thursday as bulls scented a softening in the Federal Reserve’s confidence on inflation that promised to keep U.S. interest rates low for longer. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed …Read More »