SINGAPORE : Asian shares nudged higher on Tuesday, tracking small gains on Wall Street, while the U.S. dollar paused after a sharp rally as month-end flows lift sentiment and investors adjust to expectations of more interest rate hikes.
ActivTrades market analyst Anderson Alves said month-end flows will likely drive short-term price action as traders rebalance portfolios and market exposure."Any concrete action from China in support of Russia could be seen as a strong rationale for a derisk and deleverage from Asian exposure." Monday's data comes after a hotter-than-expected personal consumption expenditure report on Friday reinforced expectations of the U.S. Federal Reserve needing to stay on its hawkish path for longer.
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