Beijing seems reluctant to expand borrowing, extending the run of disappointing stimulus steps.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.3% to a fresh year-low, adding to a 3.9% drop last week.
Disappointment at the meagre move saw Chinese blue chips ease 0.3%, while the Australian dollar took a dip as a liquid proxy for China risk. Analysts are concerned the market has got too long, especially of tech, leaving it vulnerable to a deeper pullback. “The re-opening of the buy-back blackout window will provide a boost to equity demand in coming weeks although a flurry of expected equity issuance this fall may provide a partial offset,” they wrote in a note.Stock valuations have been pressured in part by a sharp rise in bond yields, with the US 10-year hitting 10-month highs last week at 4.328%.
“It’s an opportunity for Powell to give an updated assessment on economic conditions, which now appear stronger than anticipated and reinforce the case for additional rate hikes,” said Barclays analyst Marc Giannoni. The rise in yields has helped the dollar notch five weeks of gains and a nine-month top on the Japanese yen at 146.56. On Monday, it was trading at 145.30 with the market wary of risk of Japanese intervention.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Philippines to re-supply South China Sea troops after Beijing’s blockMANILA, Aug 19 — The Philippine armed forces said today it would again seek to re-supply troops stationed in a rusty World War 2-era ship on a reef in the South China Sea, after...
Read more »
'They look so real' as lifelike robots and android dogs wow visitors at Beijing robotics fairWinking, grimacing or nodding their heads, robots mimicked the expressions of visitors at a robot expo in Beijing.
Read more »
Bintang Capital lead investor in US$10mil funding in Malaysian martech startup, Involve AsiaBintang Capital Partners announced its third investment under its maiden fund, BCP Asia Fund I L.P., into Involve Asia Technologies to support its expansion across Southeast Asia and Australasia, as well as the development of a new product suite.
Read more »
Asia Mobiliti to enable Truck It with advertising technologyTo provide telematics, geo-mapping technologies to Truck It Combines outdoor advertising with IoT to bring innovation in AdTech Asia Mobility Technologies Sdn Bhd (Asia Mobiliti) has signed a commercial agreement with Truck It Sdn Bhd (Truck It). In a statement, the mobility-as-a-service and Internet of Things (IoT) solutions provider said it will enable Truck It with the technology to match advertisement buyers to its fleet of logistic partners.
Read more »
Organisations In Asia Pacific and Japan find security operations challenging: SophosA Sophos survey found 93% of organisations across Asia Pacific and Japan find the execution of some essential security operation tasks, such as threat hunting, challenging.
Read more »
Tiga gelaran Skuasy Remaja Asia berada dalam genggaman MalaysiaPETALING JAYA: Malaysia mendominasi pentas akhir untuk tiga kategori iaitu bawah 19 tahun lelaki dan perempuan serta bawah 13 tahun
Read more »