A weak US factory activity combined with a collapse in tech firms caused a rout across the board
HONG KONG – Asian markets bounced on Thursday after the turmoil of the previous day as traders assess the outlook for US interest rate cuts after another set of below-par data put extra focus on the upcoming jobs report.
With the Fed widely expected to cut rates at its meeting next month, observers said the recent figures are making a strong case for a 50-basis-point reduction, as opposed to the 25 points largely expected. He pointed out that the job openings report also showed a downward revision for June, "adding to growing evidence that the US labour market is finally cooling."
Tokyo dipped as exporters were weighed by a strengthening yen, but Hong Kong, Shanghai, Sydney, Seoul, Singapore, Taipei, Wellington and Manila all rose.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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