Asian shares fall on fears of hawkish growth by central banks | – #Asian #shares #fall #fears #hawkish #growth #central #banks
HONG KONG, Feb 22 (Reuters) – Asian stocks were 47 on Wednesday as rising interest rate forecasts and geopolitical tensions weighed on riskier assets. of the day has dropped to its lowest level.
MSCI’s broadest index of Asia-Pacific shares outside Japan ( .MIAPJ0000PUS ) fell 1.02% to its lowest level since Jan. 6.
Japan’s Nikkei (.N225) fell 1.32%, factory It posted its worst performance in nearly a month after Tuesday’s purchasing managers’ index report showed the sector contracted.
The Bank of Japan (BOJ) said on Wednesday it would carry out emergency bond purchases to contain high yields, as 10 annual Japanese government bonds touched 0.505% for the second session in a row, surpassing the BOJ’s 0.5% limit and reaching the threshold. The highest level since January 18. in more detail
New Zealand’s central bank raised interest rates by 50 basis points to a more than 14-year high of 4.75%. central bank said it expects to continue to tighten further to ensure inflation returns to the target range over the medium term. read more
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Wall Street posted its worst performance of the year on Tuesday, with an unexpectedly strong reading from the S&P Global composite PMI USA showed that the economy has not yet cooled down.
“It’s a market where central banks will have to raise rates more to curb inflation,” said Kerry Craig, global market strategist at JPMorgan Asset Management.
“I think the bigger concern right now is the earnings outlook and how much it’s really going to fall from here… USAagainst the uncertainty surrounding the possibility of a recession in
Russia President Vladimir Putin USAby terminating the last major nuclear arms control treaty with Ukraine warned the West about The US Secretary of State called this step of Putin “deep regret and irresponsibility”.
Saxo Markets APAC strategy team said in a client note: “This (nuclear deal termination) in Poland the president Citing Biden’s response that Russia would never win the war and pledging more support for Ukraine, it fueled the next round of concerns.” “Now the focus is on China, which must back up the words of the peace treaty with action after being accused of supplying Russia with weapons.”
China’s benchmark (.CSI300) fell 0.68%, Hong Kong’s Hang Seng index (.HSI) fell 0.09%.
Australia’s S&P/ASX 200 index (.AXJO) lost 0.3% on Wednesday, falling for a second straight session and hitting its lowest level in more than a month on expectations of a rate hike.
Electronic mini futures for the S&P 500 rose 0.16%.
of the United States 10 annual notes touched 3.966%, the highest since November, before gaining 3.948% on Wednesday.
Dollar index was flat, but analysts expect the rate hike to lift the dollar and hurt emerging market stocks, which have benefited from the dollar’s decline.
US crude fell 0.46% to 76.01 dollars/barrel, Brent fell by 0.37% to 82.74 dollars.
Spot gold rose 0.1% to $1,835.28 an ounce.
Reporting by Selena Lee; Edited by Bradley Perrett
Our standards: Thomson Reuters Trust Principles.
2023-02-22 10:53:43
Source – reuters
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