Japanese shares were buoyed by a softer yen which stood at 144.09 per dollar in early trading
SINGAPORE – Asian stocks eased near two-and-half-year highs on Tuesday and the US dollar firmed following hawkish comments from Federal Reserve Chair Jerome Powell that scuppered bets of big interest rate cuts, while Mid-East tension kept risk sentiment in check.
Japan's Nikkei rose 1.5% in early trading after shedding 4.8% on Monday as investors contended with perceived monetary policy hawk Shigeru Ishiba winning a contest to become the country's prime minister.With mainland China's financial markets closed for the rest of the week, the blistering rally that has buoyed Asian markets in the past week is set to take a breather. Hong Kong's Hang Seng is also closed on Tuesday.
Fed Chair Powell indicated on Monday the US central bank would likely stick to quarter-percentage-point cuts henceforth after new data boosted confidence in economic growth and consumer spending.That led traders to price in 38% probability of a 50 bp cut next month, versus 53% on Friday, showed the CME FedWatch tool. Traders anticipate 70 bps of easing this year.
Given the Fed's current focus on the labour market, Tuesday's data on job openings for August and the ISM manufacturing survey for September will be important for rate expectations and the dollar, said economist Kristina Clifton at the Commonwealth Bank of Australia.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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