Asia markets mixed after Tuesday's broad sell-off; Singapore exports plunge more than expected
Publishing timestamp: 2024-04-17 03:41:31
Summary
Asia-Pacific markets were mixed after a broad sell-off, with Japan and Singapore reporting disappointing trade data. U.S. Federal Reserve Chair Jerome Powell indicated that current policy will likely stay in place until inflation reaches target. Chinese stocks climbed after clarification on delisting rules. HSBC's chief Asia equity strategist highlighted that India's market is overvalued. Japanese chipmaker Kioxia is reportedly planning an IPO in 2024. Fitch cut its outlook on Alibaba and Tencent to "negative." Japan's exports rose in March, but business optimism dipped. Analysts recommend buying dividend stocks amid market volatility. Federal Reserve Chair Powell suggested interest rates may need to stay higher for longer. Former national security advisor Tom Donilon warned of increased risk in the Middle East and potential terrorist attacks in the West. Federal Reserve Governor Philip Jefferson expects inflation to continue to decline.
Sentiment: MIXED
Tickers: .SPX, JPY=, @CL.1, .SSEC, UNH, BABA, .IXIC, .AXJO, @LCO.1, .KS11, AUD=, .DXY, .N225, 700-HK, .DJI, .HSI, .SZI,
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Source: https://www.cnbc.com/2024/04/17/asia-markets-japan-reuters-tankan-japan-trade-singapore-nodx.html