Asian Stock Market: Capitalizes on less-hawkish Fed policy outlook, oil explores above $69.00 – by Sagar_Dua24 Asia SP500 Nikkei Oil PBOC
equities was witnessed after investors ignored the potential risk of a global banking meltdown and cheered rising expectations of a smaller interest rate hike by the Federal Reserve .
At the press time, Japan’s Nikkei225 jumped 1.14%, ChinaA50 climbed 1.33%, Hang Seng soared 1.72%, and Nifty50 added 0.50%. Economist at UOB Group suggests that the PBoC could reduce the Loan Prime Rate at its next meeting on March 20. They further added, “With the need for further support measures toward the real economy and for 5Y loan prime rate to fall further to boost demand for homes, we see the possibility for the 1Y LPR to fall to 3.55% and 5Y LPR to 4.20% in Mar, following the National People’s Congress .”
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