Shares slipped in Europe and Asia on Friday after benchmarks on Wall Street had their biggest drop in four weeks as investors registered disappointment over an inflation reading that came in hotter than expected.
A security guard stands guard at the entrance of the Tokyo Stock Exchange building Thursday, Feb. 16, 2023, in Tokyo. Shares slipped in Asia on Friday, Feb. 17 after benchmarks on Wall Street had their biggest drop in four weeks as investors registered disappointment over an inflation reading that came in hotter than expected.
“Continued strength in the inflation data suggests the Fed’s work is still not finished, and risks of a longer cycle are rising,” Stephen Innes of SPI Asset Management said in a report. Hong Kong's Hang Seng lost 1.3% to 20,836.08. Losses were amplified by news that a major tech industry dealmaker,Shares in one of China’s top investment banks, China Renaissance, plunged Friday after the company said in a filing to Hong Kong's stock exchange that it had lost touch with Bao, its founder. Bao’s disappearance follows a crackdown on technology companies in the past two years that officials in China said had been wrapped up.
Bangkok's SET index fell 0.7% after the government reported the economy grew at a meager 2.6% annual pace in 2022 and slowed more than expected in the last quarter of the year, to a 1.3% annual expansion, as a rebound in tourism failed to make up for weaker exports. On a quarterly basis GDP fell 1.5% in October-December.Thursday’s inflation report showed that prices at the wholesale level were 6% higher last month than a year earlier, slower than December’s rate but worse than expected.
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.
Wasserman Schultz: DeSantis 'Declared War on Wall Street' with anti-ESG PushOn Tuesday's broadcast of Bloomberg's 'Balance of Power,' Rep. Debbie Wasserman Schultz (D-FL) stated that Florida Gov. Ron DeSantis (R) 'has essentially declared war on Wall Street' with his push against environmental, social, and governance (ESG) investing. | Clips
Read more »
Wall Street watchdog shortens time-frame for stock trades, proposes new investment adviser rulesWall Street's top regulator on Wednesday adopted rules tightening the time-frame for stock trades in an effort to tamp down the kind of risk seen in 2021's GameStop fiasco, when retail investors suffered heavy losses.
Read more »
U.S. stock futures show Wall Street holding recent gainsEquities trundle higher, befuddling observers accustomed to equating higher bond yields -- which reflect concerns about more rate hikes -- with softer stocks.
Read more »
Yes, Wall Street Would Kill Your Granny for a Few Extra BucksSome 70% of nursing homes are now corporate operations run by absentee executives who have no experience in nursing homes and are guided by one thing: profit.
Read more »
Asia markets trade lower after Wall Street falls on concerns of more Fed rate hikes aheadAsia-Pacific investors digested more economic data out of the U.S. and more hawkish commentary from the Federal Reserve.
Read more »
Wall Street ends down sharply as data fuels rate-hike worriesWall Street's main indexes ended sharply lower due to additional data showing that prices remain high and U.S. jobs were plentiful – fueling fears the U.S. Federal Reserve will continue to aggressively raise interest rates in its effort to tame inflation
Read more »