Asian stocks slip, dollar boosted by US rate outlook

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SINGAPORE: Asian stocks fell on Wednesday, with a robust dollar keeping the yen, yuan and the euro pinned near multi-month lows as traders wagered the Fed will likely be slow in cutting rates after data showed the U.S.economy remained stable.

"With the market now firmly biased towards only a single rate cut this year, for me the room is only growing for a pullback in the overstretched hawkish repricing of the Fed path".

Hong Kong's Hang Seng Index slid over 1% to touch its lowest level since the end of November, while China's yuan fell to a fresh 16-month low.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaHong KongJapanSingapore

Topics: Asian Yuan /Business/Business News Hang Seng MSCI Markets US dollar

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-08 @ 14:26:00 (21 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 785 words

Reading Time: 5 minutes read

Sentences: 28 lines

Sentence Length: 29 words per sentence (average)

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Copyright Owner: © The Star

News ID: 24971049

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