Hawkish Fed and China policy weigh on Asian shares

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

South Africa Headlines News

Stocks make small gains but are set for worst month in two years

Hong Kong — Asian shares clung on to small gains on Friday thanks to a solid Wall Street session, but were still set for their worst month in two years, as China growth fears and looming US rate hikes dragged on sentiment and sent the safe-haven dollar soaring.

Shanghai stocks rose 0.2% on Friday, but are set for an 8.1% fall for the month, their worst since January 2016. Beijing closed some schools and public spaces on Thursday, as most of the Chinese capital’s 22-million residents turned up for more mass Covid-19 testing aimed at averting a Shanghai-like lockdown.

The dollar index, which tracks the greenback against six major peers was a whisker softer at 103.56, having hit 103.93 on Thursday, its highest level since late 2022.On top of the safety bid for the dollar, the rally has also been fed by market expectations for 150 basis points of rate hikes in just three Federal Reserve meetings. The aggressive Fed tightening path, mainly to curtail sky high inflation, far outpaces other global central banks.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dollar towers at two-decade high on growth woes, Fed outlook - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The dollar held firm at a 20-year high on Friday and was poised to score its best monthly gain in a decade, buoyed by bets on rising US interest rates and doubts about growth in Europe and China.
Source: SABCNews - 🏆 37. / 51 Read more »

Gold dips to two-month low as dollar gathers steamImminent US rate hikes also weighed on the metal’s appeal as an inflation hedge Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met Williamchurch07 and started Bitcoin trading, I earned R500,000 in 3 weeks thanks Williamchurch07
Source: BDliveSA - 🏆 12. / 63 Read more »

JSE may benefit from higher Asian markets on ThursdayThe Bank of Japan is continuing its dovish monetary policy despite rising inflation Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met Williamchurch07 and started Bitcoin trading, I earned R500,000 in 3 weeks thanks Williamchurch07
Source: BDliveSA - 🏆 12. / 63 Read more »

JSE firms on China’s economic pledgesBeijing says it will bolster infrastructure construction and enact policies to support various sectors Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met Williamchurch07 and started Bitcoin trading, I earned R500,000 in 3 weeks thanks Williamchurch07 You have been the best, i always known thanks my to my friend so much for introducing me to you. Now I'm dept free julianna_wallet And it pays off. At first I invested R10,000 in few days I got a return of R103,000
Source: BDliveSA - 🏆 12. / 63 Read more »

Mavuso spot on: ANC to blame for power cutsWe cannot blame Eskom CEO André de Ruyter, the ANC policies have tied Eskom's hands. Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met Williamchurch07 and started Bitcoin trading, I earned R500,000 in 3 weeks thanks Williamchurch07 My question is why did the chair person act the why he did. Does he cover up. We fully support you Great woman of Africa. Men cannot stand when you stand strong. It's time that our Women show they are leaders in their own RIGHT. Yor are spot on girl, take them on, 👏 👌
Source: SowetanLIVE - 🏆 13. / 63 Read more »

A look inside the murky world of Mirror Trading International[LISTEN] to the new episode of MoneywebCrypto with Ciaran Ryan: Sean Newman talks about his new book entitled ‘Lolly Jackson' which investigates the murky world of MirrorTradingInternational. Moneyweb Podcast Download the full podcast epsiode here:
Source: Moneyweb - 🏆 5. / 77 Read more »