BusinessA person stands in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Monday, March 18, 2024, in Tokyo. Asian stocks advanced Monday ahead of policy decisions this week by Japans central bank and the Federal Reserve. – Asian stocks advanced and European markets started Monday with modest gains ahead of policy decisions this week by Japan’s central bank and the Federal Reserve.
Shares in Dongfeng Motor Group surged 17% after reports that China plans new policies to further boost its fast-growing EV sector. Technology stocks retreated. Software maker Adobe slumped 13.7% after giving investors a weak revenue forecast. Microsoft fell 2.1% and Broadcom lost 2.1%. Inflation remains the big concern for Wall Street amid hopes for the Federal Reserve to start cutting interest rates. The Fed sharply raised interest rates starting in 2022 in an effort to tame inflation back to its 2% target. Inflation at the consumer level was as high as 9.1% in 2022.Other reports this week showed some softening in the economy, which bolstered hopes for a continued long-term easing of inflation.
Source: News Formal (newsformal.com)
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