HONG KONG, Jan 10 — Asian shares fell today, commodities shed recent gains from China’s reopening, and oil traded lower following hawkish comments from two US Federal Reserve...
HONG KONG, Jan 10 — Asian shares fell today, commodities shed recent gains from China’s reopening, and oil traded lower following hawkish comments from two US Federal Reserve officials overnight, with investors turning cautious ahead of key inflation data.“The main theme overnight was cautiousness in the equity space as stocks pared gains after hawkish comments from two Fed officials.
US treasury notes and the US dollar remained under pressure, with the yield on US 10-year notes edging higher today by 2.23 basis point to 3.5393 per cent, from 3.517 per cent late yesterday.“Sentiment may turn more cautious ahead of the US CPI release on Thursday, dampening the ‘risk on’ trades initiated as a result of the optimism around China’s reopening,” Mizuho Bank said in a note.
China stocks today snapped a six-session winning streak, while Hong Kong shares jumped to a six-month high. However, any optimism may be short-lived, said Trinh Nguyen, emerging Asia economist at Natixis in Hong Kong. China’s benchmark edged up from earlier losses to gain 0.15 per cent, while losses of Hong Kong’s Hang Seng index narrowed to 0.15 per cent.
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