Asian markets swung lower with traders trying to gauge the outlook for the US economy as they price in more interest rate hikes than previously predicted. | AFP
That has dealt a blow to hopes the central bank would stop hiking soon and even begin cutting rates before the end of the year. The prospect of tighter policy has also fanned fears of a recession.
Hong Kong led losses, shedding more than one percent, while Tokyo, Sydney, Singapore, Jakarta, Bangkok and Wellington were also down.After enjoying a strong January, markets stuttered this month as hopes for a rate cut subsided. SPI Asset Management’s Stephen Innes said dealers were also still assessing China’s reopening.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
5 things to know before traveling to Hong Kong in 2023For Filipinos, Hong Kong is one of the top of mind travel destinations in Asia for its numerous tourist attractions, growing recreational activities, and simply vibrant metropolis.
Read more »
Eat’s showtimeFor frequent travelers to HK, the opening of our favorite destination means a chance to feast on the tables of our old haunts, but the better news is that Hong Kong has newish treasures to discover.
Read more »
Hong Kong under pressure to cut spending in budget as deficit soarsHong Kong is under pressure to rein in spending when it unveils its annual budget after racking up huge fiscal deficits during the COVID-19 pandemic and as it struggles to kick-start the economy and regain its financial luster. | Reuters
Read more »
US stages joint air exercises with Asian allies after North Korea's ICBM launchThe air drills come a day after North Korea launched a long-range ballistic missile into the sea off Japan's west coast, following a warning of a strong response to upcoming military drills by South Korea and the US.
Read more »
Gas shortage exposes fragile South Asian economies to more painPakistan and Bangladesh are scrambling to avoid a repeat of massive power cuts they faced in 2022, but industry officials and analysts say the crisis is likely to worsen in 2023.
Read more »