Category
PRODUCT CENTER

CODVIP e-sports jogos

POSITION:CODVIP|CODVIP e-sports betting|CODVIP e-sports jogos|CODVIP esports 2024 > CODVIP e-sports jogos > x1 gaming Asian markets mixed ahead of US inflation data, eyes on China

x1 gaming Asian markets mixed ahead of US inflation data, eyes on China

Updated:2024-12-12 02:27    Views:88

Asian markets mixed ahead of US inflation data, eyes on China Asian markets mixed ahead of US inflation data, eyes on China

Aerial view of cranes and a ship at a container terminal in Qingdao city in east China’s Shandong province Tuesday, Dec. 10, 2024. (Chinatopix Via AP)

Hong Kong, China — Markets diverged on Wednesday ahead of US inflation data that could play a key role in the Federal Reserve’s interest rate decision next week, while traders were also keeping tabs on Beijing hoping for more economic support measures.

Seoul extended Tuesday’s rebound rally, though political uncertainty after South Korean President Yoon Suk Yeol’s brief imposition of martial law kept the won under pressure around two-year lows against the dollar.

Article continues after this advertisement

Investors were taking a breather after a run of volatility in recent weeks fuelled by a range of issues including Donald Trump’s re-election, the crisis in South Korea, upheaval in the Middle East and ongoing worries about China’s economy.

FEATURED STORIES BUSINESS BIZ BUZZ: Surprise! MVP revives Smart Money BUSINESS SEC extends ECIP applications until end of 2024 BUSINESS Pogo phaseout in full swing; only 17 remain

READ: Global stocks mostly fall ahead of ECB, US inflation data

All three main indexes ended in the red Tuesday, with analysts pointing to profit-taking from a string of records, with the focus now on the consumer price index release due later in the day.

Article continues after this advertisement

While the reading is expected to show a slight pick up, there is still a strong expectation the US central bank will cut rates for a third straight meeting next week.

Article continues after this advertisement

“The holiday season is in full swing, and like countless children around the world wishing for something special from jolly old Saint Nick, equity markets are hoping the US Federal Reserve will bring them a comfy-cosy interest rate cut,” said Saira Malik, chief investment officer at asset manager Nuveen.

Article continues after this advertisement

However, there is speculation that monetary policymakers will not make as many reductions next year as previously expected amid fears that Trump’s planned tax cuts, deregulation and tariff hikes will reignite inflation.

Beijing’s attempts to kickstart growth are also in view, with leaders expected to gather Wednesday for a two-day Central Economic Work Conference aimed at hammering out the agenda for next year.

Article continues after this advertisement

President Xi Jinping and other top leaders announced on Monday their first major shift in policy for more than a decade, saying they would “implement a more active fiscal policy and an appropriately relaxed” strategy.

The remarks represented a move away from their previous “prudent” approach, sparking hopes for more rate cuts and the freeing up of more cash for lending.

The announcement comes as officials prepare for a second term for Trump, who has indicated he will reignite his hardball trade policies, fuelling fears of another standoff between the superpowers.

Shares in Hong Kong and Shanghai rose in early trade, while there were also gains in Wellington and Jakarta.

Tokyo, Sydney, Singapore, Taipei and Manila fell.

Seoul edged up, having jumped more than two percent Tuesday after giving up more than five percent since Yoon’s December 3 martial law bid, which lawmakers forced him to rescind hours later.

Traders are now tracking developments as he and his close allies are investigated, including for alleged insurrection.

On currency markets, the euro struggled to rebound ahead of the European Central Bank’s monetary policy meeting on Thursday, when it is expected to cut rates as it seeks to boost the struggling eurozone growth.

Investors are also eyeing Paris, where French officials said President Emmanuel Macron aims to name a new prime minister “within 48 hours” as he seeks to end political deadlock following the ouster of Michel Barnier.

Key figures around 0230 GMT

Tokyo – Nikkei 225: DOWN 0.7 percent at 39,112.80 (break)

Hong Kong – Hang Seng Index: UP 0.7 percent at 20,442.53

Shanghai – Composite: UP 0.4 percent at 3,436.98

Seoul – Kospi: UP 0.6 percent at 2,431.81

Euro/dollar: UP at $1.0538 from $1.0529 on Tuesday

Pound/dollar: UP at $1.2780 from $1.2773

Dollar/yen: DOWN at 151.55 yen from 151.92 yen

Euro/pound: UP at 82.46 from 82.42 pence

West Texas Intermediate: UP 0.6 percent at $68.98 per barrel

Brent North Sea Crude: UP 0.5 percent at $72.57 per barrel

New York – Dow: DOWN 0.4 percent at 44,247.83 (close)

Your subscription could not be saved. Please try again. Your subscription has been successful.

Subscribe to our daily newsletter

SIGN ME UP

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

London – FTSE 100: DOWN 0.9 percent at 8x1 gaming,280.36 (close)

READ NEXT PH’s renewable energy trading goes full blast on December 26 DTI gives shopping tips for the holiday season EDITORS' PICK UAAP Finals: Francis Lopez offers no excuse for endgame blunders Malibu fire destroys homes, forces evacuations and school closures Sofronio Vasquez named ‘The Voice’ Season 26 winner 1-Pacman party-list leaders cited for extraordinary impact on lives of Filipinos Sofronio Vasquez makes history as first Asian to win ‘The Voice’ UAAP Finals: La Salle beats UP in tense finish to force Game 3 MOST READ Comelec OKs additional provincial council seats in 21 provinces VP Sara Duterte considering hiring private security force Isko Moreno’s legacy of public markets in Manila UAAP Finals: La Salle beats UP in tense finish to force Game 3 Follow @FMangosingINQ on Twitter --> View comments