Stocks stumble on growth fears ahead of US payrolls

Quick Summary:

SINGAPORE: Asian shares were headed for their worst day in over two years and U.S.

Treasury yields slid, while the Swiss franc and yen rose on safety bids on Friday after weaker-than-expected U.S.factory data sparked fears of a worsening economic outlook.

"Clearly, all the focus now falls on U.S.non-farm payrolls in the session ahead and Asia-based equity traders will be highly cognizant that they will have to hold positions through the U.S.session with the threat of gapping risk on the Monday open," said Chris Weston, head of research at Pepperstone.

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Category: EconomyBusiness

Markets: MalaysiaHong KongIsraelJapanSingapore

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

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-02 @ 14:10:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

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