Asian shares rose on Friday, buoyed by news of possible progress for China and the United States to hammer out an audit deal, while traders anxiously awaited a speech from Federal Reserve Chair Jerome
Markets quickly moved to price around a 70% chance Federal Reserve will lift rates by 75 basis points in September, sending two-year yields up 20 basis points on Friday and further inverting the curve
Asia-Pacific bond yields followed US Treasury yields higher on Wednesday and the dollar continued its climb after Federal Reserve officials signalled they are nowhere near done raising interest rate
Asian share markets got off to a slow start on Monday as disappointing Chinese economic data fed doubts last week's rally on Wall Street could be sustained in the face of determined policy tightening
FTSE futures edged up 0.15%. U.S. markets are likely to open lower, with E-mini futures for the S&P 500 index down 0.32%
MSCI's broadest gauge of Asia stocks outside Japan meandered just above flat. Japan's Nikkei fell 0.2% and S&P 500 futures were down 0.4%
MSCI's gauge of Asia Pacific stocks outside Japan was up 0.3%, having erased part of the early morning gains
Chinese blue chips which hit a four week high the day before, lost 0.6% while the Hong Kong benchmark fell 1.3%
Market players are looking ahead to U.S. inflation data due next week and hoping that the moderation in prices of oil and some other commodities this week is a sign inflation might be abating.
Asian stocks and US share futures turned higher on Tuesday as the market took stock after a recent steep selloff
Asian markets were in a pensive mood on Wednesday as shell-shocked investors waited to see just how aggressive the Federal Reserve would be on rates
Shares sank in Asia on Monday after a report that US inflation worsened last month sent stocks reeling on Wall Street. Major regional markets dropped more than 2 per cent in early trading Monday, while US futures slipped more than 1 per cent. On Friday, the S&P 500 sank 2.9 per cent, locking in its ninth losing week in the last 10. Investors had hoped the highly anticipated consumer price report would show the worst inflation in generations had slowed a touch last month, passing its peak. Instead, the US government said inflation accelerated to 8.6 per cent in May from 8.3 per cent the month before. Investors took Friday's report to suggest the Federal Reserve will persist in raising interest rates and making other moves in order to slow the economy, to try to force down inflation. Tokyo's Nikkei 225 index lost 2.6 per cent to 27,018.01 and the Hang Seng in Hong Kong skidded 3 per cent to 21,145.27. In South Korea, the Kospi declined 3.18 per cent to 2,516.95 as a truckers strike .
Asian shares made a muted start as caution gripped ahead of a critical reading on US inflation, while the euro gained on the yen amid wagers the ECB will take a major step toward policy tightening
The swing in sentiment left the dollar wallowing at one-month lows, with the euro rising to its highest since April 25
The US Federal Reserve has begun raising interest rates to counter surging inflation and investors have been selling yen to seek higher returns in dollar-denominated assets
Asian markets including Hong Kong, Singapore and Australia are on holiday on Friday for Easter, as are major European and U.S. markets.
Minutes of the Fed's March 15-16 meeting released Wednesday, showed deepening concern among policymakers that inflation had broadened through the economy.
There has been a marked shift in the language of some of the region's less hawkish central banks on worries the renewed surge in commodity costs
By Daniel Leussink
Shares fell Tuesday in Asia and oil prices advanced after a tech-driven rally on Wall Street. Trading was light with many regional markets including those in China closed for holidays. Tokyo's Nikkei 225 index edged 0.1% lower to 27,705.25 and the Kospi in Seoul also fell 0.1%, to 2,755.36. The S&P/ASX 200 gained 0.7% to 7,565.80. Malaysia fell while Singapore gained. Russia's invasion of Ukraine has elevated concerns about rising inflation and the impact on global economic growth. Prices for everything from food to clothing were already rising and the war has added to volatility for energy prices. The World Bank has downgraded its 2022 growth forecast for the Asia-Pacific region to 5% from 5.4%, in part due to disruptions to supplies of commodities, financial strains and higher prices. That follows a rebound to 7.2% growth in 2021 after many economies experienced downturns with the onset of the pandemic. The report forecasts slower growth and rising poverty in the Asia-Pacific