Nikkei hits record high; investors await Fed chair's testimony

Quick Summary:

SYDNEY: Japan's Nikkei hit a record high on Tuesday, while investors elsewhere waited anxiously to see if Federal Reserve Chair Jerome Powell would sound supportive of rate cuts after evidence the U.S.labour market is cooling.

For the remainder of 2024, markets have fully priced in a total 50 basis points of easing, equivalent to two rate cuts.

Markets 4h ago Foreign funds return to local market to the sum of RM394.

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Category: EconomyBusiness

Markets: MalaysiaChinaFranceHong KongJapanTaiwan

Topics: Jerome Powell Nikkei Interest rate Markets /Business/Business News MSCI Federal Reserve

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-09 @ 14:13:00 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 573 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 27 words per sentence (average)

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

Copyright Owner: © The Star

News ID: 21550870

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

Year Established: 1971

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Publisher ID: #22

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