CXSE - Asia-Pacific stocks mostly decline on dovish remarks from US Federal Reserve officials
2023-11-29 02:49:33 ET
Japan ( NKY:IND ) -0.26% . Japan’s 10-year government bond yield fell below 0.7%, sliding to its lowest levels in nearly three months.
Markets also look ahead to key economic data this week, with Japanese retail sales and industrial production figures set to be released on Thursday, while the unemployment rate will follow on Friday.
China ( SHCOMP ) -0.56% . Investors cautiously awaited Chinese manufacturing activity data for November due for release later in the week.
Meantime, concerns mounted that sluggish borrowing demand in China had weakened the effect of monetary easing from the PBoC.
Hong Kong ( HSI ) -2.43% .
India ( SENSEX ) +0.76% .
Australia ( AS51 ) +0.29% . Australian monthly CPI for October 2023 4.9% y/y (vs. expected 5.2%).
Total construction work done in Australia rose 1.3% quarter-on-quarter to A$64,768.7 million in the three months to September 2023.
The Reserve Bank of New Zealand kept its official cash rate unchanged at 5.5% during its November meeting, extending the rate pause for the fourth straight gathering and matching market consensus.
In the U.S. on Tuesday, all three major indexes ended higher , amid hopes that the Fed is done with hiking rates following less hawkish comments from Fed officials ahead of PCE release.
Fed Governor Christopher Waller expressed confidence in the current policy, while Austin Goolsbee noted significant progress on inflation, likening it to the pace of the 1950s.
U.S. stock futures held steady on Wednesday after the major averages ended in positive territory during Tuesday’s regular session: Dow +0.06% ; S&P 500 +0.12% ; Nasdaq +0.10%.
Coming up in the session: German, Spanish inflation on the agenda in Europe today
Week ahead: Markets now look ahead to PCE prices, the Fed-preferred inflation gauge, as well as personal income and spending data and the ISM Manufacturing PMI for further guidance.
Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ).
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Japan's factory activity shrinks to 48.1 in November on weak demand
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Asia-Pacific stocks mostly decline on dovish remarks from US Federal Reserve officials