Asian stocks down, despite a jump in US stocks from Investing.com


© Reuters

By Jan Mengin

Investing.com – Asia-Pacific stocks fell on Wednesday morning as warnings of an economic downturn grew stronger despite a jump in US stocks.

Japan rose 0.01% to 10:30 pm ET (2:30 pm GMT). The yen was close to a 24-year low against the dollar as the Band of Japan maintained an extremely loose monetary policy while major world partners took a hawkish stance, while Japanese Finance Minister Shunichi Suzuki said on Tuesday he was concerned about the yen’s recent sharp weakening and will respond appropriately to stock market movements, if necessary.

South Korea fell 1.74%

In Australia, the decline is 0.06%.

Hong Kong fell 0.55%

China fell 0.09% and down 0.17%.

And jumped by more than 2%.

The yield on 10-year US bonds changed slightly – 3.27%.

The US Federal Reserve’s aggressive monetary tightening to cool inflation and fears of growing recession risks weigh on the market.

warned that the United States was heading for a recession.

“The Federal Reserve has entered a cocktail policy that we would describe as hammer time,” Gene Tanouzzo, Columbia Threadneedle Investments’ global head of fixed income, told Bloomberg.

“At this point, you have to plan defensively. There are many questions about all risky assets.

Fedbank President Thomas Barkin said the central bank should raise interest rates as soon as possible without causing unnecessary harm to financial markets or the economy.

Fed Chairman Jerome Powell will begin a two-day testimony to Congress later in the day as investors look for more clues as to how the Fed will raise interest rates.

In terms of data, it should be expected on Thursday, while it will be released on Friday.

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