Stocks drift, China unveils 'historic' steps for property

LONDON, May 17 - Global stocks eased on Friday after Federal Reserve officials hinted U.S. interest rates may not fall any time soon, while commodities rallied on the back of optimism over a series of measures in China to stabilise its beleaguered property sector.

Traders expect roughly two quarter-point cuts from the Fed this year, with November being the most likely starting point. Monetary policy is"restrictive" and"is in a good place," Federal Reserve Bank of New York President John Williams said."I don't see any indicators now telling me ... there's a reason to change the stance of monetary policy now."

Shanghai's CSI 300 , opens new tab ended up 1%, while Hong Kong's Hang Seng Index , opens new tab hit its highest since August 2022, up 0.9%. The Japanese currency has fallen around 9.5% this year as the Bank of Japan has kept monetary policy loose while higher U.S. rates have drawn money towards U.S. bonds and the dollar.

Source: News Formal (newsformal.com)

Gold Silver Platinum Palladium PGM Platinum Group Metals Metals Precious Metals Mining News Crypto News Bitcoin News Ethereum News Mining News Interviews Economic Reports Forecasts Central Banks US Dollar Charts Tech Metals Rare Earth Metals Currency Global Economy International Policy Politics Bank Forecasts Market Nugget Mining Minutes Roundups

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fad stocks vs. trend stocks: ExplainedAre you considering venturing into the stock market? You may want to be cautious about fad and trend stock investments. Fad stocks are often characterized by...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares are mixed as China stocks get bump from new property measuresAsian shares were mixed on Friday, with Chinese stocks reversing earlier losses following the announcement of fresh measures to revive the ailing property...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Foreigners Sell Indian Stocks on Election Risks, China AppealIndian stocks are set for the biggest monthly outflow in nearly a year as election uncertainties and high valuations prompt some funds to shift to cheaper alternatives like Chinese equities.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Michael Burry Boosts Bets on China Big Tech as Stocks Rebound(Bloomberg) -- Michael Burry’s investment firm doubled down on its bets on JD.com Inc and Alibaba Group Holding Ltd. in the first quarter as Chinese equities...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Michael Burry Boosts Bets on China Big Tech as Stocks ReboundMichael Burry’s investment firm doubled down on its bets on JD.com Inc and Alibaba Group Holding Ltd. in the first quarter as Chinese equities bottomed out.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

China Property Stocks Gauge Jumps on Proposal for Home Purchases(Bloomberg) -- The shares of Chinese developers jumped on optimism that Beijing will provide policy support for the purchase of unsold homes from distressed ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »