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Asia-Pacific markets rise as most of the region observes Lunar New Year holidays - TL;DR CNBC

Asia-Pacific markets rise as most of the region observes Lunar New Year holidays

Publishing timestamp: 2023-01-23 20:19:13


Summary

Markets in Asia-Pacific traded higher as Lunar New Year holidays were observed in most of region. In Australia, the S&P/ASX 200 rose 0.17% and Nikkei 225 rose 1.61%. Japanese yen continued to trade above 130 against US dollar and yield on 10-year Japanese Government Bonds continued to stand below central bank's upper ceiling of its tolerance range. National Australia Bank's monthly business survey showed worsened business conditions for December with reading of 12 points, decline from November's print of 20 points. Meanwhile, business confidence in December rose by 3 points to -1. Nasdaq Composite rose more than 2% in U.S. on optimism Federal Reserve may slow down its interest rate hikes. Chinese tech names are back on Wall Street's radar, with one stock in particular standing out as top pick for many. Federal Reserve officials next week are almost certain to approve another deceleration in interest rate hikes while also discussing when to stop increases altogether. Allianz Chief Economic Adviser Mohamed El-Erian believes that the shift to 25 basis point hike at next Federal Reserve policy meeting is a "mistake". Morgan Stanley equity


Sentiment: MIXED

Tickers: AMDQCOM.KS11.SZIMETA.AXJO@LCO.1JPY=.N225NFLX.SSECNVDAMTCH.DXY@CL.1AUD=.HSIAAPLGOOGLTSLA

Keywords: marketshang seng indexworld marketschinausd/jpywti crude (mar'23)nikkei 225 indexsouth koreabreaking news: asiabusiness newsaustralian dollar/us dollar fx spot rateshanghaidxy us dollar currency indextaiwanshenzhen component indexmalaysias&p/asx 200united statesbreaking news: marketskospi indexeconomic eventsasia economyice brent crude (mar'23)singapore

Source: https://www.cnbc.com/2023/01/24/asia-pacific-after-new-year.html


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