Asian Equities React to Mixed Signals from U.S. Federal Reserve

Tuesday, 26 March 2024, 02:32

Asian equities faced challenges breaking this month's highs due to uncertainties in interest rate cuts timing, impacting the performance of stocks. Mixed messages from U.S. Federal Reserve policymakers and concerns over Japan intervening in the yen's decline added pressure to the market. Despite the upward movement in equities, the wobbling yuan raised speculations on China's stance towards its currency's value, affecting the broader Asian market.
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Asian Equities React to Mixed Signals from U.S. Federal Reserve

Stocks hemmed in by rate risks; yuan wobbles

Asian equities climbed on Tuesday but could not break this month's highs as mixed messages from U.S. Federal Reserve policymakers left doubts hanging over the timing of interest rate cuts.

The risk of Japan intervening to prevent further falls in the yen put a little pressure on the dollar, however, it rose against the yuan on speculation that China may tolerate a weaker currency.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6%, with gains for South Korean chipmakers SK Hynix and Samsung Electronics leading the Kospi up 1.2%.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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