Stocks dip, dollar steadies as investors seek rates clarity
Timilehin Adejumobi
1 min read
Most Asian stocks fell on Tuesday, while the U.S. dollar and oil steadied, as investors held safe ranges awaiting more clues on whether central banks will continue their aggressive interest rate hikes.
Market conditions were also subdued heading into the U.S. Independence Day public holiday on Tuesday, with most of Wall Street closed.
MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.1%, by Tuesday mid-morning.
Australian shares (.AXJO) were mostly flat, as investors waited to see whether the central bank will tighten again when it announces a policy decision later in the day.
Japan’s Nikkei share average (.N225) fell 1.1% as investors exited some bullish positions after the benchmark index closed at a 33-year high in the previous session.
China’s mainland benchmark (.SSEC) and Hong Kong’s Hang Seng Index (.HIS) were each down by 0.2%.
U.S. S&P 500 E-mini stock futures slipped 0.1% in Asian trade. Wall Street stock indexes ended Monday’s shortened session up slightly along with Treasury yields.
This report’s information was first seen on REUTERS; to read more, click this link.
