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Stock rally fizzles on revived inflation fears

Channel News Asia LogoChannel News Asia1 mo ago

Stock rally fizzles on revived inflation fears

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TOKYO : Asian stocks slipped across the board on Wednesday, failing to extend Wall Street's rally as persistent worries about interest rates and inflation remained a key focus for investors, while the Japanese yen hit a fresh 24-year low against the dollar.

Economists polled by Reuters expect the Fed will deliver a 75-basis-point interest rate hike next month, followed by a half-percentage-point rise in September, and won't scale back to quarter-percentage-point moves until November at the earliest.

Minutes from the Bank of Japan's April policy meeting released Wednesday showed the central bank's concerns over the impact the plummeting currency could have on the country's business environment.


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Article Details

Category: Economy

Topics: Fell Interest Rates Dollar Investors Trading Japan Cent Inflation Rate Wednesday

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-22, 10:52:49

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 5 minutes read

Article Length: 761 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 3026

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About Channel News Asia

Channel News Asia Logo

Main Topics: Economy

Official Website: channelnewsasia.com

Update Frequency: 62 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 44m ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #27

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