Asian shares sputter with Powell in focus, yen up as BOJ still wants to hike

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SYDNEY: Asian shares sputtered on Friday while the dollar rebounded from one-year lows as investors were cautious ahead of a speech by the world's most powerful central banker with markets looking for confirmation U.S.rate cuts would start in September.

Taken together with surveys showing the U.S.economy still growing at a healthy pace, markets slightly pared back the chance of an outsized half-point cut in September to 24%, from 38% a day earlier.

"If the data evolves as we expect, it could mean that the next BOJ hike may not come until December as fears of rapid inflation ease to an extent".

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Category: EconomyBusiness

Markets: MalaysiaChinaHong KongJapanSouth KoreaSingapore

Topics: Trading /Business/Business News Equities Markets Asia Commodities Stocks

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-23 @ 14:04:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 621 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © The Star

News ID: 22225058

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