Asia markets fall on Fed rate hike concerns; Singapore exports plunge
Publishing timestamp: 2023-02-16 21:13:05
Summary
Asia Pacific markets traded lower on Friday as investors digested economic data from the US and hawkish commentary from the Federal Reserve. Singapore's non-oil domestic exports fell 25% in January, while China's economy is expected to grow 5.8% this year. Morgan Stanley Investment Management's Andrew Slimmon believes that stocks are set to rally further, while Reserve Bank of Australia governor Philip Lowe warned of risks that high inflation will have on the country. US stocks fell after the producer price index rose 0.7%, while initial claims for unemployment benefits dipped 1000 to 194,000. Microsoft and Disney contributed most to the Dow's decline.
Sentiment: MIXED
Tickers: @LCO.1, SOXX, .N225, AUD=, @CL.1, @DJ.1, @ND.1, .SPX, KRW=, .IXIC, SGD=, .AXJO, .DXY, @SP.1, .KS11, CNY=, .SSEC, .DJI, 2888-HK, JPY=, .STI, .SZI, .HSI,
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Source: https://www.cnbc.com/2023/02/17/asia-markets-rba-.html