Asia shares struggle, oil tumbles as recession fears heighten

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BEIJING/HONG KONG : Asian shares wobbled while commodity prices fell on Thursday, as mounting worries about the risks of a global recession amid aggressive rate hikes by the Federal Reserve kept broad investor sentiment fragile.

MSCI's broadest index of Asia-Pacific shares outside Japan eked out a 0.

"Equities have held in well despite the falls in commodities, altogether there has been rotation into low-risk areas of the market and defensive sectors, with predictable outflows from energy and materials stock".U.S.stocks rallied after Powell's remarks, which some analysts said did not break any new ground, before giving up gains.

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Article Details

Category: Economy

Topics: Shares Cent Futures Thursday Market Fell Powell Dollar Lost Prices Recession

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 10:14:55

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 5 minutes read

Article Length: 792 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 5524

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About Channel News Asia

Main Topics: Economy

Official Website: channelnewsasia.com

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