Asian markets swing as traders weigh growth outlook

0
32

HONG KONG: Asian markets fluctuated Wednesday as traders in several countries returned from the Lunar New Year break to a soft lead out of Wall Street with recession fears still causing concern.
While equities have enjoyed a strong start to the year as a slowdown in inflation gives central banks room to temper their interest rate hikes, focus is now turning to the impact of last year’s increases on the economy.
Worries about the growth outlook and the impact on higher rates on company profits is also offsetting optimism over China’s reopening from years of strict zero-Covid measures.
Data showing a slight improvement in US factory and services activity was unable to settle nerves, with the figures still showing the sectors in contraction.
Focus is now turning to next week’s Federal Reserve policy meeting, with speculation growing that it will lift rates by 25 basis points.
Traders…

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here