Pedestrians pass an electronic board showing the numbers for the Hang Seng Index in Hong Kong on December 5, 2022.HONG KONG, China —
A rally across global markets, which saw some hit record highs this month, has given way to concerns that valuations may be overdone, and analysts said the current earnings season is key to maintaining momentum. Meanwhile, governor Michelle Bowman added that she thought "time will tell whether it is sufficiently restrictive".
Relief that Israel had held off any retaliation for the weekend's missile attack by Iran -- soothing fears of a conflict between the Middle East foes -- also weighed on prices. Analysts said the statement with Yellen suggested Washington would not push back against intervention by the countries.However, Yujiro Goto, at Nomura Securities, warned that such a move would not alter the trend in the market if fundamentals do not change.Hong Kong - Hang Seng Index: UP 1.0 percent at 16,408.04London - FTSE 100: UP 0.4 percent at 7,878.30West Texas Intermediate: UP 0.1 percent at $82.75 per barrelNew York - Dow: DOWN 0.1 percent at 37,753.
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