Asia-Pacific shares trade higher as investors gear up for Fed rate hike decision
Publishing timestamp: 2023-01-31 21:59:37
Summary
Asia-Pacific shares traded higher as investors looked ahead to Federal Reserve's Wednesday meeting, as well as some economic data in region. Japan's factory activity logs third consecutive month of contraction in January, while China's factory activity signaled further contraction from previous readings. Global X Lithium & Battery Tech ETF had its best week in nearly a year and outperformed in January. Automakers have been in spotlight this month, with Tesla slashing prices to boost demand and Ford following suit. European energy giants are expected to post record annual profits this earnings season. South Korea saw trade deficit of $47.5 billion for year of 2022. Sea Limited traded 5.75% lower on Monday after its e-commerce arm Shopee committed to expanding its investments in Malaysia. Defiance Digital Revolution ETF (NFTZ) will begin liquidation next month. Apple is expected to report its first year-over-year revenue decline since 2019. Stocks added to strong January rally in final trading day of month.
Sentiment: POSITIVE
Tickers: .KS11, .AXJO, TTE-FR, .SSEC, .SZI, SE, .HSI, AAPL, SHEL, BP, NFTZ, LIT, .N225,
Keywords: osaka, australia, shenzhen, chicago, kospi index, breaking news: asia, economic events, japan, united states, business news, markets, breaking news: markets, south korea,
Source: https://www.cnbc.com/2023/02/01/asia-pacific-shares-fed-gdp.html