Asian markets mostly fell Friday after data pointing to a still-strong US economy raised fresh concerns about inflation and dampened optimism that the Federal Reserve will slash interest rates as much as it expected this year.
People walk past an electronic board showing a share price of the Nikkei index of the Tokyo Stock Exchange in Tokyo on March 19, 2024.HONG KONG, China —
News that the central banks of Switzerland and Mexico had started cutting added to the sense that decision-makers were gearing up to reverse their tightening measures. However, Asia struggled to maintain the momentum after a string of data reminded investors that the world's largest economy was still in rude health, resilient to the tighter credit environment.
Rodrigo Catril at National Australia Bank said "the composite measure of prices derived by manufacturers and service providers rose to an almost one-year high on the back of continued wage growth and higher fuel costs, suggesting stubborn inflation".
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.
Most Asian markets rise as Fed decision looms, yen softensAsian markets mostly rose Wednesday as traders tracked another record day on Wall Street ahead of the Federal Reserve's policy meeting, while the yen further weakened a day after Japan's rare interest rate hike.
Read more »
Asian stocks track Wall St record after Fed keeps rate projectionAsian markets rallied Thursday after Wall Street's record-breaking day as traders welcomed news that the Federal Reserve still saw three interest rate cuts this year even after recent data pointed to a bounce in inflation.
Read more »
Asian markets fall as US jobs report dampens rate cut hopesAsian markets mostly fell Monday after a forecast-busting jobs report dampened US interest rate cut hopes, with attention now turning to the release of key inflation data this week.
Read more »
Taylor Swift struck a deal with Singapore not to perform in any other Southeast Asian countryMELBOURNE, Australia (AP) — Taylor Swift stole the show at an Asian summit Tuesday when Singapore’s leader was prompted to defend his tiny country’s exclusive concert deal with the singer that risks bad blood in the region by preventing her from performing in neighboring nations.
Read more »
DITO Telecommunity wins two major awards in Asian Telecom Awards 2024Defining the News
Read more »
Kurt Barbosa, Filipino jins fall short of Olympic berths in Asian taekwondo qualifierKurt Barbosa, Tachiana Mangin, Baby Jessica Canabal, and Arven Alcantara all suffer heartbreaks in their respective categories in the World Taekwondo Asian Qualification Tourmament for the Paris Olympics
Read more »