Asian Stocks Mixed as Investors Await US Inflation Data

A bicycle rider passes an electronic quotation board displaying share prices of the Tokyo Stock Exchange and numbers of Asian markets in Tokyo on September 17, 2020.HONG KONG — Asian stocks were mixed Tuesday as attention turned to crucial US inflation data that could play a pivotal role in the Federal Reserve's decision-making on interest rates, with investors lowering their expectations for how many cuts it will deliver.

"This upcoming release is arguably the most critical economic print of the year," said Stephen Innes at SPI Asset Management. Investors are now expecting about 60 basis points of cuts this year -- suggesting just two reductions -- with a less than 50 percent chance of three, according to Bloomberg News.

Tokyo rose on a weaker yen, which is approaching the 152-per-dollar level many think could spark an intervention by Japanese authorities. But JPMorgan chief Jamie Dimon warned Wall Street markets were overvalued and said "persistent inflationary pressures" could see borrowing costs go higher.Hong Kong - Hang Seng Index: UP 1.0 percent at 16,905.96West Texas Intermediate: UP 0.4 percent at $86.75 per barrelNew York - Dow: FLAT at 38,892.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian markets mixed after Fed official floats rate cut delayAsian investors trod carefully Thursday after a Federal Reserve official floated the idea of delaying or reducing interest rate cuts, while the yen held gains having briefly hit a 34-year low the day before.
Source: PhilstarNews - 🏆 1. / 94 Read more »

Asian stocks track Wall St record after Fed keeps rate projectionAsian markets rallied Thursday after Wall Street's record-breaking day as traders welcomed news that the Federal Reserve still saw three interest rate cuts this year even after recent data pointed to a bounce in inflation.
Source: PhilstarNews - 🏆 1. / 94 Read more »