The Fed has already lifted its key overnight interest rate to a range of 3.75% to 4%, up from basically zero in March. Easing of restrictions translates to potentially more growth in China, a definite plus for the Asian region.Ī report last week showed inflation in the United States slowed by more than expected last month. Markets are getting a boost from China's relaxing some of its strict anti-COVID measures, which have been hurting the world’s second-largest economy. Both also notched hefty gains for the week. Its 5.9% gain for the week was its third in the last four and its biggest since June. The S&P 500 rose 36.56 points, or 5.5%, for its best day in more than two years, to 3,992.93. But some analysts said the Wall Street rally was overdone. That would make the Federal Reserve less likely to keep raising interest rates. Wall Street closed last week with a rally, amid hopes inflation pressures had eased.
The current stock rally may have only days to run,” said Clifford Bennett, chief economist at ACY Securities, referring to the U.S. Policy paralysis at a time of economic crisis is not a good look for what may lay ahead over the next two years. “We also have the Democrats holding the Senate while the Republicans look likely to control the House. Hong Kong's Hang Seng jumped 2.1% to 17,688.84, while the Shanghai Composite rose 0.4% to 3,099.19. Australia's S&P/ASX 200 was little changed, inching up less than 0.1% to 7,163.10. Japan's benchmark Nikkei 225 slipped 0.8% in morning trading to 28,047.58. “But it is far too hasty to declare a decisive conclusion to inflation risks,” said Venkateswaran Lavanya at Mizuho Bank. earlier than initially thought, while they warn factors remain that could refuel inflation, including geopolitical risks. Analysts say some investors are being cheered by signs inflation is abating in the U.S. TOKYO - Asian shares were mixed in Monday trading as momentum faded from last week’s rally on Wall Street amid varied sentiments about coronavirus restrictions easing in China and global interest rate increases.īenchmarks fell in Japan and South Korea, while rising in China.
0 kommentar(er)
