TOKYO : Global stocks eased from record peaks as a stark reminder of supply chain snags in corporate earnings reports stalled their rally, while investors also looked to whether central banks may consider tightening monetary policy earlier than thought.
Still, earning reports are also showing the largest U.S. manufacturers including General Motors, General Electric, 3M and Boeing face logistics headaches and higher costs due to global supply bottlenecks that are likely to persist into next year.In Asia, Japan's robot maker Fanuc tumbled 8.5per cent while IT conglomerate Fujitsu shed 9.8per cent as their earning showed a bigger than expected impact from chip shortages.
The BoC's action fanned expectations the U.S. Federal Reserve, too, could move faster towards rate hikes, with Fed funds rate futures pricing in two rate hikes by end-2022. The 10-year U.S. notes yields dropped to 1.545per cent, compared with a five-month peak of 1.705per cent touched a week ago.
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