Asian shares rise, kiwi slumps as New Zealand cuts rates

Quick Summary:

SYDNEY: Asian shares rose on Wednesday after soft U.S.producer prices data stirred hopes that consumer price inflation would be benign, while the kiwi dollar slumped after its central bank cut rates for the first time since early 2020.

Investors now await all-important consumer price figures for July later in the day where economists look for rises of 0.2% in both the headline and core, with the annual core slowing a tick to 3.2%.

The kiwi dollar slumped 1.1% after the Reserve Bank of New Zealand cut interest rates by 25 basis points to 5.25% and signalled more easing to come.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaHong KongIsraelJapanNew Zealand

Topics: Yen MSCI Interest rates /Business/Business News Markets Asian Nikkei

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-14 @ 14:45:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 653 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 28 words per sentence (average)

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

Copyright Owner: © The Star

News ID: 22074080

View Article Analysis

About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 39 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 39 minutes ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #22

Publisher Details

Frequently Asked Questions