Asian stocks cautious after mixed China data, dollar firm on Fed view

Quick Summary:

The dollar hovered close to an 11-week high versus major peers on Friday after robust US economic data allowed for a more patient path of Federal Reserve easing.

Crude oil futures inched higher on Friday, supported by a surprise drop in US oil inventories and simmering Middle East tensions, but prices were headed for their biggest weekly loss in more than a month on worries of lower demand.

Hong Kong's Hang Seng traded 0.42 per cent higher, lifted mostly by technology shares following solid earnings a day earlier from Taiwanese chipmaker and Nvidia supplier TSMC.

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Article Details

Category: BusinessFinance

Markets: IndiaAustraliaChinaHong KongJapanSouth KoreaTaiwan

Topics: Rate hikes US rate cuts Global stock market Asian stock market Global stocks Asian stocks Dollar

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 08:53:59 (13 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 733 words

Reading Time: 5 minutes read

Sentences: 23 lines

Sentence Length: 32 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23113770

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Official Website: business-standard.com

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