Monday, March 27, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use
Oil Market News
  • Home
  • Marketdaily
  • Price
  • crudenow
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEChot
  • brend
  • ships
Oil Market News
Home Price

Asian stocks mixed ahead of Fed rate hike decision

10 months ago
in Price
Asian stocks mixed ahead of Fed rate hike decision
Share on FacebookShare on Twitter


BEIJING (AP) — Asian stock markets were mixed Wednesday ahead of a Federal Reserve decision on how sharply to raise interest rates to cool U.S. inflation.

Shanghai and Hong Kong advanced. Tokyo and Sydney declined. Oil prices edged higher.

Wall Street’s benchmark S&P 500 index lost 0.4% on Tuesday.

Traders expect the Fed rate hike to be three-quarters of a percentage point, or triple the usual margin. They worry aggressive action to cool inflation that is running at a four-decade high might tip the biggest global economy into recession.

A “hawkish surprise” from the Fed could be a “further shock to risk assets,” said Anderson Alves of ActivTrades in a report. “Money markets are already pricing around 90% possibility of such action.”

The Shanghai Composite Index gained 1.8% to 3,348.58 after Chinese factory activity rebounded in May as anti-virus controls that shut down businesses in Shanghai and other industrial centers eased.


Hong Kong’s Hang Seng gained 1.6% to 21,396.83 while the Nikkei 225 in Tokyo lost 1.1% to 26,326.16.

The Kospi in Seoul shed 1.8% to 2,447.52 after the government reported South Korea’s unemployment rate ticked up 0.1 percentage point to 2.8% in May.

Sydney’s S&P-ASX 200 sank 1.3% to 6,599.20.

India’s Sensex opened down less than 0.1% at 52,683.77. New Zealand, Indonesia and Bangkok declined while Singapore advanced.

On Wall Street, the S&P 500 declined to 3,735.48, putting it 21.8% below its Jan. 3 peak. That puts it in a bear market, or a drop of 20% from the last market top.

The Dow Jones Industrial Average fell 0.5% to 30,364.83 and the Nasdaq composite rose 0.2% to 10,828.35.


Expectations of an unusually big Fed rate hike increased after government data Friday showed consumer inflation accelerated in May instead of easing as hoped.

The Fed is scrambling to get prices under control after being criticized earlier for reacting to slowly to inflation pressures.

Latest Oil News

Marathon Petroleum Corporation (NYSE:MPC) Q4 2022 Earnings Call Transcript

Marathon Petroleum Corporation (NYSE:MPC) Q4 2022 Earnings Call Transcript

February 1, 2023
Oil Under Pressure As API Reports Large Crude, Product Builds

Oil Under Pressure As API Reports Large Crude, Product Builds

January 31, 2023
African economies: How to respond to rising global crises

African economies: How to respond to rising global crises

January 30, 2023
Fuel prices to increase by 7%-13% from February 1, 2023 – IES

Fuel prices to increase by 7%-13% from February 1, 2023 – IES

January 29, 2023

Britain’s central bank also has raised rates, and the European Central Bank says it will do so next month.

Japan’s central bank has kept rates near record lows. That has caused the yen to fall to two-decade lows around 135 to the dollar as traders shift capital in search of higher returns.

Markets also have been jolted by Russia’s attack on Ukraine, which has pushed oil prices to history-making highs above $120 per barrel, and by virus outbreaks in China that led to the closure of factories and disrupted supply chains.

In energy markets, benchmark U.S. crude rose 25 cents to $119.18 per barrel in electronic trading on the New York Mercantile Exchange. The contract lost $2 on Tuesday to $118.93. Brent crude, the price basis for international oil trading, added 32 cents to $121.49 per barrel in London. It fell $1.10 the previous session to $121.17.

The dollar declined to 134.69 yen from Tuesday’s 135.30 yen. The euro gained to $1.0476 from $1.0411.



www.registercitizen.com

Tags: aheadAsiandecisionFedHikeMixedrateStocks
Previous Post

Indonesia president reshuffles cabinet, names new trade minister

Next Post

Form FWP MORGAN STANLEY Filed by: MORGAN STANLEY

Related Posts

Marathon Petroleum Corporation (NYSE:MPC) Q4 2022 Earnings Call Transcript

Marathon Petroleum Corporation (NYSE:MPC) Q4 2022 Earnings Call Transcript

by Oil Market News
February 1, 2023
0

Marathon Petroleum Corporation (NYSE:MPC) Q4 2022 Earnings Call Transcript January 31, 2023Operator: Welcome to the MPC Fourth Quarter 2022 Earnings...

Oil Under Pressure As API Reports Large Crude, Product Builds

Oil Under Pressure As API Reports Large Crude, Product Builds

by Oil Market News
January 31, 2023
0

Crude oil inventories rose by another 6.33 million barrels last week, the American Petroleum Institute (API) data showed on Tuesday,...

African economies: How to respond to rising global crises

African economies: How to respond to rising global crises

by Oil Market News
January 30, 2023
0

Treasury CS Prof Njuguna Ndung'u. The Covid-19 pandemic triggered a profound setback after a quarter-century of economic and social progress....

Fuel prices to increase by 7%-13% from February 1, 2023 – IES

Fuel prices to increase by 7%-13% from February 1, 2023 – IES

by Oil Market News
January 29, 2023
0

The Institute for Energy Security (IES) is predicting between 7% and 13% jump in the prices of petrol, diesel and...

Why Germany Dragged Its Feet on Leopard Tanks to Ukraine

Why Germany Dragged Its Feet on Leopard Tanks to Ukraine

by Oil Market News
January 28, 2023
0

The decision to provide heavy tanks to Ukraine in significant numbers constitutes a step change in western military support for...

Indexes Rally and Notch Weekly Gains

Indexes Rally and Notch Weekly Gains

by Oil Market News
January 27, 2023
0

US stocks closed higher Friday after reversing early-session losses.  Easing inflation data added to investor optimism that the Federal Reserve...

Next Post
Form FWP MORGAN STANLEY Filed by: MORGAN STANLEY

Form FWP MORGAN STANLEY Filed by: MORGAN STANLEY

Subscribe
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trend Oil News

Top 20 Oil Exporting Countries in 2023

Top 20 Oil Exporting Countries in 2023

2 months ago
Saudi’s won’t let oil stay at $75: Pioneer CEO

Saudi’s won’t let oil stay at $75: Pioneer CEO

3 months ago
Blinken says US reviewing ‘consequences’ for OPEC+ decision

Blinken says US reviewing ‘consequences’ for OPEC+ decision

5 months ago
Pierce resurfaces, Al Gross returns to the political scene, and Outside group holds

Pierce resurfaces, Al Gross returns to the political scene, and Outside group holds

6 months ago
US natural gas prices: warm New Year chills winter outlook for drillers

US natural gas prices: warm New Year chills winter outlook for drillers

3 months ago
ADVERTISEMENT
Libyan state oil chief stresses support across divided country

Libyan state oil chief stresses support across divided country

March 26, 2023

Iraq wins landmark case against Turkey over Kurdish oil exports

March 25, 2023

UK government expected to offer energy companies windfall tax relief

March 24, 2023

Fears of an energy price surge percolate through sector

March 23, 2023

US regulator vows ‘aggressive’ crackdown on oil and gas methane leaks

March 22, 2023

Global commodity traders open to increasing Russian oil volumes

March 21, 2023

Crude Oil

4 Days from Deadline, EU Fails To Agree On Russian Oil Products Price Cap

4 Days from Deadline, EU Fails To Agree On Russian Oil Products Price Cap

February 1, 2023
Oil rises after U.S. fuel stocks draw down; economic concerns loom

Oil prices settle steady on higher U.S. demand, weaker dollar

January 31, 2023
S&P 500 Down 1%; Crude Oil Drops Over 2%

S&P 500 Down 1%; Crude Oil Drops Over 2%

January 30, 2023
Russia Can’t Replace the Energy Market Putin Broke

Russia Can’t Replace the Energy Market Putin Broke

January 29, 2023

Investing

Orbital Sidekick Raises $10M Investment to Monitor Oil and Gas Industry from Space 

Orbital Sidekick Raises $10M Investment to Monitor Oil and Gas Industry from Space 

February 1, 2023
Crude Oil Shielded From Bond and Stock Market Rout

Clean-energy investing poised to top money backing oil and gas after hitting a record

January 31, 2023
Crude Oil Shielded From Bond and Stock Market Rout

The Cushing® MLP & Infrastructure Total Return Fund Announces Fund Name Change

January 30, 2023
Boeing’s 747, the original jumbo jet, prepares for final send-off By Reuters

Boeing’s 747, the original jumbo jet, prepares for final send-off By Reuters

January 29, 2023

Market

Libyan state oil chief stresses support across divided country

Libyan state oil chief stresses support across divided country

March 26, 2023
Iraq wins landmark case against Turkey over Kurdish oil exports

Iraq wins landmark case against Turkey over Kurdish oil exports

March 25, 2023
UK government expected to offer energy companies windfall tax relief

UK government expected to offer energy companies windfall tax relief

March 24, 2023
Fears of an energy price surge percolate through sector

Fears of an energy price surge percolate through sector

March 23, 2023

OPEC

US Close- Fed signals more hikes coming, Powell says disinflation process begun, ADP

US Close- Fed signals more hikes coming, Powell says disinflation process begun, ADP

February 1, 2023
‘OPEC does not control the price’: OPEC President | OPEC News

‘OPEC does not control the price’: OPEC President | OPEC News

January 31, 2023
OPEC+ Closely Watches Chinese Factory Data

OPEC+ Closely Watches Chinese Factory Data

January 30, 2023
Week Ahead: FOMC, BOE, ECB, OPEC, NFP and Big Tech Earnings

Week Ahead: FOMC, BOE, ECB, OPEC, NFP and Big Tech Earnings

January 29, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use

© 2022 OilMarket.News

No Result
View All Result
  • Home
  • Market
  • Price
  • crude
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEC
  • brend
  • ships

© 2022 OilMarket.News

wpDiscuz
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.