A look at the day ahead in Asian markets from Jamie McGeever.
against entities connected to the Chinese military that supported the flight of the Chinese spy balloon into U.S. airspace last week.
JP Morgan CEO Jamie Dimon told Reuters on Wednesday that he intends to visit China, and that dialogue and communication on all issues between the two superpowers is critical. "No talking will lead to a bad outcome." But others may not see it that way. Deteriorating Sino-U.S. relations could encourage some investors and businesses to rethink their, potentially affecting Chinese assets and rippling through to others, like European equities and U.S. Treasuries.
Right now, Chinese stocks, the Hang Seng tech index and the MSCI Asia ex-Japan index are poised to close in the red for a second straight week.and MSCI World index are on track for their biggest weekly decline in nearly two months. Despite individual economic and stock-specific developments - like the big undershoot in German inflation, or Disney's share price surge on Thursday - the bigger picture is one of 'higher for longer' rates. See Australia, India and Sweden this week.. Wall Street is now pricing in a terminal rate this year comfortably above 5%, with barely 10 basis points of easing by year-end. Risk assets are repricing accordingly.
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