SYDNEY : Asian stocks were subdued on Wednesday as a lack of new stimulus steps from Beijing frustrated investors, who were also wondering just how hawkish the world's most powerful central banker would chose to be later in the session.Federal Reserve Chair Jerome Powell faces lawmakers in two days of tes
SYDNEY : Asian stocks were subdued on Wednesday as a lack of new stimulus steps from Beijing frustrated investors, who were also wondering just how hawkish the world's most powerful central banker would chose to be later in the session.
"The focus is on whether the July meeting is truly"live" and if the Fed dot plot of two more hikes is a true base case depending on the data, or doom-mongering on inflation in an effort to ensure no premature easing in financial conditions," said Tapas Strickland, head of market economics at NAB. Japan's Nikkei inched up 0.1 per cent as the market consolidates three months of hefty gains. A survey showed morale at big Japanese manufacturers edged up in June to stay in positive territory for a second straight month.
That lack of urgency should limit any bounce in the yen and kept the dollar underpinned at 141.56 yen, only just off Tuesday's seven-month high of 142.26.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Southeast Asia, private equity deals seen underpinning Asia M&A in tough marketHONG KONG : Dealmaking in Southeast Asia and private equity transactions should help lift Asian mergers and acquisitions (M&A) activity in the second half of the year, bankers said, after deals volume in the first half slumped to the lowest in a decade.Total Asia M&A value for January through June dropped
Read more »
Asia shares fall on China's modest rate cutHONG KONG : Stocks in Asia fell on Tuesday as investors worried China's latest rate cut was not enough to boost confidence in the weakening economy and awaited a wider stimulus package by Beijing.China, in a highly anticipated move, cut two key benchmark lending rates for the first time in 10 months on Tu
Read more »
Bankers see stable interest rates reviving Asia's capital markets in second halfSYDNEY/SINGAPORE : Asia's dealmakers are counting on a pause in rate hikes globally and an economic rebound in China to rekindle activity in the region's equity capital markets, after volumes in the first half of the year sank to their lowest in four years.First-half Asia Pacific equity capital markets vo
Read more »
Green Pulse Podcast: Banking on change - unlocking Asia’s green transitionThe Asian Development Bank is trying to bring green power to the people while curbing climate risks. It’s a huge challenge. Read more at straitstimes.com.
Read more »
Jail for 2 former Wirecard Asia executives who helped misappropriate funds from the companySINGAPORE — In the first Wirecard-related conviction globally and in Singapore, two former employees of Wirecard Asia Chai Ai Lim, 44, and James Aga Wardhana, 39, were sentenced to 10 months and 21 months' jail respectively on Tuesday (June 20).
Read more »
Jail for 2 Wirecard Asia ex-employees for offences including criminal breach of trustJames Aga Wardhana and Chai Ai Lim had taken instructions from Edo Kurniawan who is still at large. Read more at straitstimes.com.
Read more »