SYDNEY, Jan 30 — Asian shares edged higher today into a week that is certain to see interest rates rise in Europe and the United States, along with US jobs and wage data that may influence how much further they still have to go.
Early Monday, the index was up 0.2 per cent, while Chinese blue chips .CSI300 climbed 1.3 per cent after returning from the holidays. Investors are confident the Federal Reserve will raise rates by 25 basis points on Wednesday, followed the day after by half-point hikes from the Bank of England and European Central Bank, and any deviation from that script would be a real shock.
That dovish outlook will also be tested by data on US payrolls, the employment cost index and various ISM surveys. “Based on our recent Asia supply chain checks we believe iPhone 14 Pro demand is holding up firmer than expected,” they added. “Apple will likely cut some costs around the edges, but we do not expect mass layoffs.”
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