Asian shares rise on signs of Fed slowdown; dollar down further

11/24/2022 10:15:00 AM

Asian shares rise on signs of Fed slowdown; dollar down further

Asian shares rise on signs of Fed slowdown; dollar down further

Asian shares mostly tracked Wall Street higher on Thursday while a sell-off in the U.S. dollar was extended, as markets reacted to the possibility of the U.S. Federal Reserve soon slowing its pace of interest rate hikes.

(.BANGKOK — Hong Kong’s Hang Seng index HK:HSI surged 0.A "substantial majority" of policymakers agreed it would "likely soon be appropriate" to slow the pace of interest rate hikes, according to the minutes.(.

SSEC) lost 0.1%.5%.The sell-off of the U."What equity markets needed to see for the recent strength to continue was what we got from the minutes," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.S.5%, while the Shanghai Composite index CN:SHCOMP slipped 0.dollar continued, with the euro and the Japanese yen set to test major levels against the safe-haven greenback.3%, after modest gains in U.

The euro rose 0.Benchmarks rose in Taiwan TW:Y9999 and Indonesia ID:JAKIDX, but stocks fell in Singapore SG:STI.ET, the Dow Jones Industrial Average.4% to $1.0437, edging closer to the recent four-month top of $1.New.048, while the dollar also weakened 0.6% against the Japanese yen to 138..S.

74 yen.Measured against the dollar index , a basket of currencies, the dollar slid 0.4% and the Kospi 180721 in Seoul rose 0.2%, after falling 1% overnight.In the oil market, prices are set to test a major support level established in September.In Sydney, the S&P/ASX 200 XJO climbed 0.If they breach it, oil could tumble to levels not seen since before late 2021.25%-4.

U.2%.S.crude oil futures eased 0.Markets were closed in Japan for a holiday.2% to $77.74 per barrel, after tumbling more than 3% on Wednesday as the Group of Seven (G7) nations considered a price cap on Russian oil above the current market level.25%, striving to rein in inflation that is now at 7.S.

Brent crude futures fell 0.3% to $85.It’s the first time the bank has raised rates by more than a half-point since introducing the Official Cash Rate in 1999.13.In the bond market, long-term U.On Tuesday, the S&P 500 SPX rose 1.S.The U.

Treasuries rallied overnight after the Fed minutes.58 and the Dow Jones Industrial Average DJIA added 1.Yields on 10-year notes dropped to a huge 79-basis-point deficit relative to two-year yields.Such a curve inversion has not been seen since the dot-com bust of 2000 and, on the face of it, is a signal that investors expect a deep economic downturn in coming months.10.U.S.4% to 11,174.U.

markets will be closed for the Thanksgiving holiday on Thursday.Reporting by Stella Qiu; Additional reporting by Harish Sridharan; Editing by Tom Hogue and Bradley Perrett Our Standards:.Long-term Treasury yields fell.

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