Asia-Pacific markets mostly rise as Fed signals more pain ahead
Publishing timestamp: 2023-01-06 00:06:11
Summary
Markets in Asia-Pacific traded mostly higher as Federal Reserve signaled further rate hikes ahead. Natural gas fell more than 10% and hit low of $3.651 its lowest level since Jan. 3 2022. Tesla slashed prices for some models in China for second time in three months. Samsung Electronics may follow its competitors Micron Technology and SK Hynix in cutting production in later part of 2023. People's Bank of China and China Banking and Insurance Regulatory Commission announced approval for lower mortgage rates for first-time home buyers if newly constructed house prices drop for three consecutive months. Oil prices are expected to hover around $85 per barrel for next five years. Japan's services sector activity showed fourth-consecutive month of growth in December. Samsung Electronics flagged worst quarterly profit in nearly 8 years with roughly 70% decline in its final quarter's operating profit. Initial jobless claims ticked up slightly to 225000 in week ending Dec. 24 according to Labor Department.
Sentiment: MIXED
Tickers: .N225, @CL.1, @LCO.1, MU, .AXJO, LW, 2317-TW, .HSI, AAPL, HY9H-FF, .SZI, JPY=, SMSD-GB, .SSEC, SI, BBBY, .KS11,
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Source: https://www.cnbc.com/2023/01/06/asia-pacific-fed-more-rate-hikes-ahead.html