Asia shares set for solid monthly gain, dollar slumps

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SINGAPORE: Asian stocks rose on Friday and were poised for a solid end to August, while the dollar was staring at its worst monthly performance in nine months on the view that the Federal Reserve is all but certain to cut interest rates next month.

Bloomberg News reported on Friday that China is considering allowing homeowners to refinance as much as $5.4 trillion in mortgages to lower borrowing costs for millions of families and boost consumption.

The main focus for investors remains on the pace and scale of Fed rate cuts this year, with those bets further cemented after a chorus of Fed speakers signalled their intention to do so as early as next month.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaGermanyHong KongJapanSouth KoreaSingaporeTaiwan

Topics: PCI Asian Interest rates Federal Reserve US dollar Markets /Business/Business News MSCI

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-30 @ 14:32:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 839 words

Reading Time: 5 minutes read

Sentences: 25 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22304768

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Year Established: 1971

Headquarters: Malaysia

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Coverage Areas: Malaysia

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Publisher ID: #22

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