SYDNEY : Asian stocks hit a one-month low and logged a weekly loss on Friday while the dollar headed for a month of gains after U.S. inflation came in steady without surprising on the low side.
U.S. stock futures were flat and European futures fell 0.5 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7 per cent with stocks in Hong Kong and China the biggest drag. It was down 1.6 per cent for the week. "I think the market was hoping with that inflation data that we'd hear Fed speakers say it's unlikely we'll have to hike any further, and the next move is a cut," said Andrew Lilley, chief rates strategist at investment bank Barrenjoey in Sydney.
Australian government bonds came under pressure in Asia on Friday, though outgoing Australian central bank chief Philip Lowe told lawmakers the worst was over for inflation and policy has now entered a"calibration stage". The euro is down marginally for the week at $1.0988. The yen was eyeing a weekly loss of 2 per cent as traders judged the Bank of Japan's looser limit on 10-year yields as buying time for shorter-dated rates to stay low.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Asian Games 2023 complete team list: Shanti, Kean Yew + 429 other athletes represent Singapore - Singapore News“The athletes have their targets set and will be working closely with their performance team to meet them. I am confident that if they continue to train well and keep their focus, they will be able to perform to the best of their ability in Hangzhou,' said Dr Koh Koon Teck, Chef de Mission for Team Singapore
Source: IndependentSG - 🏆 9. / 63 Read more »
Source: STForeignDesk - 🏆 4. / 71 Read more »
Source: straits_times - 🏆 5. / 69 Read more »
Source: TODAYonline - 🏆 1. / 99 Read more »