KWEB - Asia-Pacific stocks in red tracking losses in global markets after Fed Chair Powell comments
2023-11-10 02:53:35 ET
Japan ( NKY:IND ) -0.24% .
China ( SHCOMP ) -0.47%. China's vehicle sales continue thrive, New Energy Vehicles (NEV) sales rocketing by 33.5%. October vehicle sales were up 13.8% y/y (from September's +9.5%).
Hong Kong ( HSI ) -1.54% .
India ( SENSEX ) -0.01% .
Australia ( AS51 ) -0.55%.The Reserve Bank of Australia expects inflation in the country will return to the top of its 2-3% goal by the end of 2025 as cost pressure is easing more slowly than previously thought due to persistent services inflation, the central bank said in its quarterly monetary policy statement.
New Zealand Manufacturing PMI drops to 42.5 in October 2023.
In the U.S. on Thursday, all three major indexes ended in red , amid rising Treasury yields after hawkish comments from US Fed Chair Jerome Powell grew bets of peak interest rates.
Fed Chair Jerome Powell said on Thursday that the central bank is “not confident” that it has done enough to bring down inflation. Fed Governor Michelle Bowman also previously flagged the possibility of further rate hikes due to the strength of the economy, while Minneapolis Fed President Neel Kashkari said that it’s too soon to declare victory over inflation.
U.S. stock futures edged higher on Friday, followed by hawkish remarks from Federal Reserve Chair Jerome Powell and a jump in Treasury yields: Dow +0.28% ; S&P 500 +0.22%; Nasdaq +0.07%.
Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ).
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Asia-Pacific stocks in red tracking losses in global markets after Fed Chair Powell comments