SYDNEY : Asian shares on Monday braced for an action-packed week of earnings and central bank meetings that will likely see higher interest rates in Europe and the United States, and just possibly the end of the monetary tightening cycle in both.
"But activity and inflation data in both regions have softened enough, and are likely to soften further, to justify an end of the tightening cycle." The report slugged the yen and gave Japan's Nikkei an early 1.1 per cent gain, while MSCI's broadest index of Asia-Pacific shares outside Japan was barely changed.
A who's who of major companies are reporting including Alphabet, Meta, Intel, Microsoft, GE, AT&T, Boeing, Exxon Mobil, McDonald's, Coca Cola, Ford and GM. "We believe recent valuation expansion despite higher rates is reasonable considering the longer-term relationship between rates and equities, the improvement in expected growth, and the high market concentration in stocks benefiting from AI optimism," wrote analysts at Goldman Sachs.
Source: News Formal (newsformal.com)
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