{"id":44842,"date":"2025-01-08T05:21:12","date_gmt":"2025-01-08T05:21:12","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/asian-stocks-jittery-over-uncertain-rate-outlook-hang-seng-slips-over-1\/"},"modified":"2025-01-08T05:21:12","modified_gmt":"2025-01-08T05:21:12","slug":"asian-stocks-jittery-over-uncertain-rate-outlook-hang-seng-slips-over-1","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/asian-stocks-jittery-over-uncertain-rate-outlook-hang-seng-slips-over-1\/","title":{"rendered":"Asian stocks jittery over uncertain rate outlook: Hang Seng slips over 1%,"},"content":{"rendered":"

(Originally posted on : Invezz )<\/b>
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Asian stock markets exhibited a mixed performance on Wednesday, as strong US economic data clouded the outlook for rate cuts in 2025. <\/p>\n

MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.2%, reflecting a cautious trading environment across the region.<\/p>\n

Treasury yields held steady after the previous session’s sell-off, with the 10-year note auction delivering the highest yield since 2007. <\/p>\n

This followed robust US service-sector activity and job openings data, which pointed to a resilient economy.<\/p>\n

Federal Reserve Bank of Atlanta President Raphael Bostic urged caution on monetary policy, citing uneven progress in reducing inflation. <\/p>\n

China and Hong Kong market continue downturn<\/h2>\n

In China, the CSI 300 fell 0.8% as the yuan weakened to its lowest level since September 2023. <\/p>\n

This came despite renewed efforts by the central bank to stabilise the currency. <\/p>\n

The Hang Seng Index in Hong Kong also dipped over 1%, with reports indicating that major banks such as HSBC and Standard Chartered were hoarding cash instead of extending loans to struggling small businesses.<\/p>\n

Tencent shares continued to face ongoing selling pressure, dropping 2.2%. Shares of the tech major have been under pressure after the US named it as a Chinese military company.<\/p>\n

Nikkei seesaws on Wednesday<\/h2>\n

Japan’s Nikkei has started the new year on a seesaw. The index crashed heavily on Monday before rebounding strong on Tuesday.<\/p>\n

Today, the Nikkei average is down again.<\/p>\n

Japan’s Nikkei slipped 0.4%, although gains in tech stocks like Advantest and Tokyo Electron provided some support. <\/p>\n

This came amid a sell-off in US tech stocks, led by Nvidia, as its product presentation left investors unimpressed<\/a>.<\/p>\n

Other Asian markets <\/h2>\n

South Korea’s Kospi index rose more than 1%, driven by tech and healthcare stocks. <\/p>\n

The index had a slow start but quickly rebounded.<\/p>\n

Samsung Electronics jumped 2.7% despite issuing a profit forecast that fell short of expectations.<\/p>\n

Australia\u2019s benchmark S&P\/ASX 200 advanced 0.6% as a drop in the core inflation rate bolstered expectations of an interest rate cut by the Reserve Bank of Australia as early as next month.<\/p>\n

Wall Street ends lower on Tuesday<\/h2>\n

US stocks opened higher on Tuesday but reversed course sharply, with all major indices ending the day in the red<\/a>. <\/p>\n

The Nasdaq led the losses, dropping 375.30 points or 1.9% to 19,489.68, while the S&P 500 fell 66.35 points or 1.1% to 5,909.03. <\/p>\n

The Dow recorded a smaller decline, shedding 178.20 points or 0.4% to close at 42,528.36.<\/p>\n

Technology stocks were among the hardest hit. Nvidia (NVDA) fell 6.2%, retreating from a record intraday high, while Tesla (TSLA) declined 4.0% after Bank of America downgraded the stock from “Buy” to “Neutral”, citing valuation concerns.<\/p>\n

The selloff coincided with a notable rise in treasury yields, as the benchmark ten-year note surged to its highest level in eight months. <\/p>\n

The increase fueled concerns about the potential for prolonged higher interest rates, particularly after the release of robust U.S. economic data.<\/p>\n

The Institute for Supply Management (ISM) reported that its services PMI rose to 54.1 in December, up from 52.1 in November, beating market expectations of 53.3. <\/p>\n

Separately, the Labor Department revealed a surprise increase in job openings for November, indicating continued resilience in the labour market.<\/p>\n

The post Asian stocks jittery over uncertain rate outlook: Hang Seng slips over 1%,<\/a> appeared first on Invezz<\/a><\/p>\n

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(Originally posted on : Invezz ) Asian stock markets exhibited a mixed performance on Wednesday, as strong US economic data clouded the outlook for rate cuts in 2025. MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.2%, reflecting a cautious trading environment across the region. Treasury yields held steady after the previous session’s […]<\/p>\n","protected":false},"author":3947362387,"featured_media":44843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[38],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/44842"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362387"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=44842"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/44842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/44843"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=44842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=44842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=44842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}