Asian stock markets were volatile as investors eyed key rate decisions from major central banks in a 24-hour frenzy, including the Federal Reserve, this week.

A key Asian stock gauge moved in a narrow range.

Following Monday's disappointing retail sales report, mainland Chinese shares managed a little increase while Hong Kong's sank, this indicates a lack of market momentum.

These changes followed a successful trading session on Wall Street, during which the NASDAQ 100 rose over 1 per cent to set a fresh all-time high.

The dollar was largely unchanged.

The yen recovered marginally following six days of losses ahead of the Bank of Japan's decision this week. The currency has fallen sharply, reaching 155 per dollar.

Oil prices levelled off following a dip, as disappointing economic data from China heightened worries about slowing demand in the world's largest oil importer.

Benchmark Brent crude traded below 74 dollars a barrel after slipping nearly one per cent in the previous session. Crude has been trading in a narrow range since mid-October.

The Fed and other major central banks are expected to announce interest rate decisions soon, so traders are being cautious.

This has kept gold steady. After a little increase on Monday, gold was trading at 2,650 dollars per ounce as investors analysed mixed US data.

(With inputs from the agencies)

Asian stock markets were volatile as investors eyed key rate decisions from major central banks in a 24-hour frenzy, including the Federal Reserve, this week. A key Asian stock gauge moved in a narrow range.

Asian stock markets were volatile as investors eyed key rate decisions from major central banks in a 24-hour frenzy, including the Federal Reserve, this week. A key Asian stock gauge moved in a narrow range. Following Monday's disappointing retail sales report, mainland Chinese shares managed a little increase while Hong Kong's sank, this indicates a lack of market momentum. These changes followed a successful trading session on Wall Street, during which the NASDAQ 100 rose over 1 per cent to set a fresh all-time high. The dollar was largely unchanged. The yen recovered marginally following six days of losses ahead of the Bank of Japan's decision this week. The currency has fallen sharply, reaching 155 per dollar. Oil prices levelled off following a dip, as disappointing economic data from China heightened worries about slowing demand in the world's largest oil importer. Benchmark Brent crude traded below 74 dollars a barrel after slipping nearly one per cent in the previous session. Crude has been trading in a narrow range since mid-October. The Fed and other major central banks are expected to announce interest rate decisions soon, so traders are being cautious. This has kept gold steady. After a little increase on Monday, gold was trading at 2,650 dollars per ounce as investors analysed mixed US data. (With inputs from the agencies)

Asian markets waver as investors await central bank rate decisions

New Delhi
Asian stock markets were volatile as investors eyed key rate decisions from major central banks in a 24-hour frenzy, including the Federal Reserve, this week.
A key Asian stock gauge moved in a narrow range.
Following Monday's disappointing retail sales report, mainland Chinese shares managed a little increase while Hong Kong's sank, this indicates a lack of market momentum.
These changes followed a successful trading session on Wall Street, during which the NASDAQ 100 rose over 1 per cent to set a fresh all-time high.
The dollar was largely unchanged.
The yen recovered marginally following six days of losses ahead of the Bank of Japan's decision this week. The currency has fallen sharply, reaching 155 per dollar.
Oil prices levelled off following a dip, as disappointing economic data from China heightened worries about slowing demand in the world's largest oil importer.
Benchmark Brent crude traded below 74 dollars a barrel after slipping nearly one per cent in the previous session. Crude has been trading in a narrow range since mid-October.
The Fed and other major central banks are expected to announce interest rate decisions soon, so traders are being cautious.
This has kept gold steady. After a little increase on Monday, gold was trading at 2,650 dollars per ounce as investors analysed mixed US data.
(With inputs from the agencies)

Asian stock markets were volatile as investors eyed key rate decisions from major central banks in a 24-hour frenzy, including the Federal Reserve, this week.



New Delhi Asian stock markets were volatile as investors eyed key rate decisions from major central banks in a 24-hour frenzy, including the Federal Reserve, this week. A key Asian stock gauge moved in a narrow range. Following Monday's disappointing retail sales report, mainland Chinese shares managed a little increase while Hong Kong's sank, this indicates a lack of market momentum. These changes followed a successful trading session on Wall Street, during which the NASDAQ 100 rose over 1 per cent to set a fresh all-time high. The dollar was largely unchanged. The yen recovered marginally following six days of losses ahead of the Bank of Japan's decision this week. The currency has fallen sharply, reaching 155 per dollar. Oil prices levelled off following a dip, as disappointing economic data from China heightened worries about slowing demand in the world's largest oil importer. Benchmark Brent crude traded below 74 dollars a barrel after slipping nearly one per cent in the previous session. Crude has been trading in a narrow range since mid-October. The Fed and other major central banks are expected to announce interest rate decisions soon, so traders are being cautious. This has kept gold steady. After a little increase on Monday, gold was trading at 2,650 dollars per ounce as investors analysed mixed US data. (With inputs from the agencies)

This week, US equities eked out an all-time high on Friday as investors expected the June jobs report to entice the Federal Reserve to consider a rate cut.&nbsp;

The benchmark S&amp;P 500 inched roughly 0.6 per cent above a record close in the abbreviated session on Wednesday, and the Dow Jones Industrial Average was up 0.2 per cent. The tech-heavy Nasdaq Composite advanced 0.9 per cent, driven by gains from major tech companies.

Leading the market were Apple (AAPL), Amazon (AMZN), Alphabet (GOOG, GOOGL), and Meta (META), whose stocks hit record highs on Friday. &nbsp;

All three major gauges were in the green for the first trading week in the second half of the year.

Most focus was on the labour market Friday after 206,000 workers joined the US economy in June — blowing past the Wall Street expectation for 190,000. However, the unemployment rate peaked at 4.1 per cent, the highest since November 2021, signalling a cooling job market.

Indications of slackening in labour data have been supporting the view that inflation would slow further, providing room for the Federal Reserve to lower interest rates from their twenty-year highs. Traders were now pricing in a 75 per cent chance of a cut in September, according to CME's FedWatch tool. &nbsp;

The 10-year Treasury yield dipped to 4.27 per cent, sliding further after being down through much of the week.

Investors are scouring Friday's jobs data for signs of whether the slowing job growth suggests labour markets are normalising post-pandemic or is an early signal of a broader economic slowdown.

This week, US equities eked out an all-time high on Friday as investors expected the June jobs report to entice the Federal Reserve to consider a rate cut. The benchmark S&P 500 inched roughly 0.

This week, US equities eked out an all-time high on Friday as investors expected the June jobs report to entice the Federal Reserve to consider a rate cut. The benchmark S&P 500 inched roughly 0.6 per cent above a record close in the abbreviated session on Wednesday, and the Dow Jones Industrial Average was up 0.2 per cent. The tech-heavy Nasdaq Composite advanced 0.9 per cent, driven by gains from major tech companies. Leading the market were Apple (AAPL), Amazon (AMZN), Alphabet (GOOG, GOOGL), and Meta (META), whose stocks hit record highs on Friday. All three major gauges were in the green for the first trading week in the second half of the year. Most focus was on the labour market Friday after 206,000 workers joined the US economy in June — blowing past the Wall Street expectation for 190,000. However, the unemployment rate peaked at 4.1 per cent, the highest since November 2021, signalling a cooling job market. Indications of slackening in labour data have been supporting the view that inflation would slow further, providing room for the Federal Reserve to lower interest rates from their twenty-year highs. Traders were now pricing in a 75 per cent chance of a cut in September, according to CME's FedWatch tool. The 10-year Treasury yield dipped to 4.27 per cent, sliding further after being down through much of the week. Investors are scouring Friday's jobs data for signs of whether the slowing job growth suggests labour markets are normalising post-pandemic or is an early signal of a broader economic slowdown.

Record highs and rate cut hopes: what’s driving US equities?

The US House of Representatives has passed a bill that could close US stock and money markets to Chinese firms.

The bill passed Wednesday by Congress is part of a commercial and political duel between Washington and Beijing, and takes aim at opaque accounting practices used by Chinese firms listing shares for trade on US exchanges.

The measure introduced in 2019 by Louisiana Republican Senator John Kennedy would mandate that foreign companies listed on US stock exchanges comply with accounting requirements of the US Securities and Exchange Commission.

Many foreign companies already conform to the standard, but Chinese firms do not.

The "Holding Foreign Companies Accountable Act" could be quickly placed on the desk of US President Donald Trump for final approval, since it was already passed by the Senate.

In addition, Chinese groups on the US Stock Exchange will have to disclose whether one or more of their board members are members of the Chinese Communist Party.

According to figures from a congressional commission, 217 Chinese companies were listed on US stock exchanges in early October, valued at a total of $2.2 trillion based on share prices.

A small number of those firms are also on the Asian markets and could fall back to these stock exchanges in the event of delisting in the United States.

One of the heavyweights on the list is e-commerce colossus Alibaba, which in 2014 had the biggest all-time initial public offering on the New York Stock Exchange, raising $25 billion.

The SEC has already crafted a proposal similar to the measure that passed the House of Representatives on Wednesday. In November, the SEC had already formulated a proposal similar to the text adopted Wednesday by the House.

(with inputs)

The US House of Representatives has passed a bill that could close US stock and money markets to Chinese firms. The bill passed Wednesday by Congress is part of a commercial and political duel between Washington and Beijing, and takes aim at opaque accounting practices used by Chinese firms listing shares for trade on US exchanges.

The US House of Representatives has passed a bill that could close US stock and money markets to Chinese firms. The bill passed Wednesday by Congress is part of a commercial and political duel between Washington and Beijing, and takes aim at opaque accounting practices used by Chinese firms listing shares for trade on US exchanges. The measure introduced in 2019 by Louisiana Republican Senator John Kennedy would mandate that foreign companies listed on US stock exchanges comply with accounting requirements of the US Securities and Exchange Commission. Many foreign companies already conform to the standard, but Chinese firms do not. The "Holding Foreign Companies Accountable Act" could be quickly placed on the desk of US President Donald Trump for final approval, since it was already passed by the Senate. In addition, Chinese groups on the US Stock Exchange will have to disclose whether one or more of their board members are members of the Chinese Communist Party. According to figures from a congressional commission, 217 Chinese companies were listed on US stock exchanges in early October, valued at a total of $2.2 trillion based on share prices. A small number of those firms are also on the Asian markets and could fall back to these stock exchanges in the event of delisting in the United States. One of the heavyweights on the list is e-commerce colossus Alibaba, which in 2014 had the biggest all-time initial public offering on the New York Stock Exchange, raising $25 billion. The SEC has already crafted a proposal similar to the measure that passed the House of Representatives on Wednesday. In November, the SEC had already formulated a proposal similar to the text adopted Wednesday by the House. (with inputs)

Chinese firms may lose access to US stock markets, courtesy new bill

US President Donald Trump tweeted this morning that the US economy doing &quot;even better than anticipated&quot; and that companies were &quot;pouring back into the country, reversing the long-term trend of leaving.&quot;

The US President added that the unemployment numbers &quot;are looking great&quot; since both regulations and taxes had been cut. 
&nbsp;

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<blockquote class="twitter-tweet" data-lang="en">
The U.S. economy is looking very good, in my opinion, even better than anticipated. Companies are pouring back into our country, reversing the long term trend of leaving. The unemployment numbers are looking great, and Regulations &amp; Taxes have been massively Cut! JOBS, JOBS, JOBS
&mdash; Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/965775382598311937?ref_src=twsrc%5Etfw">February 20, 2018</a></blockquote>
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<a class="close-mark close-div" href="#" id="jqclosemark">&times;</a></div>

&nbsp;

Trump&#39;s presidential campaign had hinged around increasing employment through protectionism.

Since his election, President Trump has consistently highlighted whenever US stock markets have have done well.&nbsp;

President Trump&#39;s tweet comes after the<a href="http://www.wionews.com/business-economy/wall-street-crash-dow-jones-plunges-to-historic-low-sp-500-nasdaq-hit-31929"> recent bloodbath </a>in the US stock markets. In the biggest fall in its history, the &nbsp;Dow Jones Industrial Average fell nearly 1,600 points earlier this month.

The Dow&#39;s gains for 2018 were erased in a matter of hours as 4.6 per cent was wiped off the value of America&#39;s 30 largest companies.

The US President added that the unemployment numbers 'are looking great' since both regulations and taxes had been cut

US President Donald Trump tweeted this morning that the US economy doing "even better than anticipated" and that companies were "pouring back into the country, reversing the long-term trend of leaving." The US President added that the unemployment numbers "are looking great" since both regulations and taxes had been cut. The U.S. economy is looking very good, in my opinion, even better than anticipated. Companies are pouring back into our country, reversing the long term trend of leaving. The unemployment numbers are looking great, and Regulations & Taxes have been massively Cut! JOBS, JOBS, JOBS — Donald J. Trump (@realDonaldTrump) February 20, 2018 × Trump's presidential campaign had hinged around increasing employment through protectionism. Since his election, President Trump has consistently highlighted whenever US stock markets have have done well. President Trump's tweet comes after the recent bloodbath in the US stock markets. In the biggest fall in its history, the Dow Jones Industrial Average fell nearly 1,600 points earlier this month. The Dow's gains for 2018 were erased in a matter of hours as 4.6 per cent was wiped off the value of America's 30 largest companies.

'US economy looking very good,' tweets Trump

The US Federal Reserve raised interest rates on Wednesday for the second time in three months, a move spurred by steady economic growth, strong job gains and confidence that inflation is rising to the central bank&#39;s target.

The decision to lift the target overnight interest rate by 25 basis points to a range of 0.75 percent to 1.00 per cent marked one of the Fed&#39;s most convincing steps yet in the effort to return monetary policy to a more normal footing.

However, the Fed&#39;s policy-setting committee did not flag any plan to accelerate the pace of monetary tightening. Although inflation is &quot;close&quot; to the Fed&#39;s 2 per cent target, it noted that goal was &quot;symmetric,&quot; indicating a possible willingness to allow prices to rise at a slightly faster pace.

Further rate increases would only be &quot;gradual,&quot; the Fed said in its policy statement, with officials sticking to their outlook for two more rate hikes this year and three more in 2018. The Fed lifted rates once in 2016.

Business investment &quot;appears to have firmed somewhat,&quot; the Fed said in language that reflected a stronger sense of the economy&#39;s momentum.

Fresh economic forecasts released with the statement showed little change from those of the December policy meeting and gave little indication the Fed has a clear view of how the policies of Donald Trump&#39;s administration may impact the economy in 2017 and beyond.

&quot;With gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace,&quot; the Fed said, maintaining language it has used in previous statements.

Stock markets extended their gains and bond yields fell on the benign economic outlook and the continued steady path of interest rate rises signalled by the central bank.

&quot;It relieves some of the fears we&#39;ve had that perhaps the Fed was going to raise rates faster in the future. They&#39;ve chosen not to signal that,&quot; said Brad McMillan, Chief Investment Officer at Commonwealth Financial.

The Fed&#39;s projections showed the economy growing by 2.1 per cent in 2017, unchanged from the December forecast. The median estimate of the long-run interest rate, where monetary policy would be judged as having a neutral effect on the economy, held steady at 3.0 per cent.

The unemployment rate Fed officials expect by the end of the year was unchanged at 4.5 per cent, while core inflation was seen as slightly higher at 1.9 percent versus the previous 1.8 percent forecast.

Fed Chair Janet Yellen is scheduled to hold a press conference at 2:30 p.m. (1830 GMT) to discuss the policy statement.

The rate increase comes amid a broad improvement in the world economic outlook and a sense among Fed policymakers that the US&nbsp;economy is close to the central bank&#39;s employment and inflation goals.

According to the policy statement, risks to the outlook remained &quot;roughly balanced,&quot; the Fed said.

Minneapolis Fed President Neel Kashkari was the only official to dissent in Wednesday&#39;s decision, saying he preferred to leave rates unchanged.

(Reuters) 
&nbsp;

Stock markets extended their gains and bond yields fell on the benign economic outlook

The US Federal Reserve raised interest rates on Wednesday for the second time in three months, a move spurred by steady economic growth, strong job gains and confidence that inflation is rising to the central bank's target. The decision to lift the target overnight interest rate by 25 basis points to a range of 0.75 percent to 1.00 per cent marked one of the Fed's most convincing steps yet in the effort to return monetary policy to a more normal footing. However, the Fed's policy-setting committee did not flag any plan to accelerate the pace of monetary tightening. Although inflation is "close" to the Fed's 2 per cent target, it noted that goal was "symmetric," indicating a possible willingness to allow prices to rise at a slightly faster pace. Further rate increases would only be "gradual," the Fed said in its policy statement, with officials sticking to their outlook for two more rate hikes this year and three more in 2018. The Fed lifted rates once in 2016. Business investment "appears to have firmed somewhat," the Fed said in language that reflected a stronger sense of the economy's momentum. Fresh economic forecasts released with the statement showed little change from those of the December policy meeting and gave little indication the Fed has a clear view of how the policies of Donald Trump's administration may impact the economy in 2017 and beyond. "With gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace," the Fed said, maintaining language it has used in previous statements. Stock markets extended their gains and bond yields fell on the benign economic outlook and the continued steady path of interest rate rises signalled by the central bank. "It relieves some of the fears we've had that perhaps the Fed was going to raise rates faster in the future. They've chosen not to signal that," said Brad McMillan, Chief Investment Officer at Commonwealth Financial. The Fed's projections showed the economy growing by 2.1 per cent in 2017, unchanged from the December forecast. The median estimate of the long-run interest rate, where monetary policy would be judged as having a neutral effect on the economy, held steady at 3.0 per cent. The unemployment rate Fed officials expect by the end of the year was unchanged at 4.5 per cent, while core inflation was seen as slightly higher at 1.9 percent versus the previous 1.8 percent forecast. Fed Chair Janet Yellen is scheduled to hold a press conference at 2:30 p.m. (1830 GMT) to discuss the policy statement. The rate increase comes amid a broad improvement in the world economic outlook and a sense among Fed policymakers that the US economy is close to the central bank's employment and inflation goals. According to the policy statement, risks to the outlook remained "roughly balanced," the Fed said. Minneapolis Fed President Neel Kashkari was the only official to dissent in Wednesday's decision, saying he preferred to leave rates unchanged. (Reuters)

US Fed raises key interest rate by 0.25% for the second time in three months

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Asian markets waver as investors await central bank rate decisions

Asian markets waver as investors await central bank rate decisions

Record highs and rate cut hopes: what’s driving US equities?

Chinese firms may lose access to US stock markets, courtesy new bill

'US economy looking very good,' tweets Trump

US Fed raises key interest rate by 0.25% for the second time in three months