Pedestrians pass by the Hong Kong Stock Exchange electronic screen in Hong Kong, Friday, Jul 21, 2023. HONG KONG: Asian markets mostly fell on Monday as investors set their sights on the release of key US inflation data due at the end of the week.
Those concerns were echoed by Atlanta Fed chief Raphael Bostic on Friday, when he said he saw inflation remaining sticky and saw just one rate cut this year, instead of the two he had previously foreseen. Hong Kong, Tokyo, Shanghai, Seoul, Singapore, Taipei, Manila, Jakarta and Bangkok all fell, though there were gains in Sydney and Wellington.
The remarks come as leaders struggle to reinvigorate growth engines but refuse to unveil any bazooka-like stimulus measures.
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