SYDNEY : Asian shares were hesitant on Monday as a U.S. holiday made for slow trading ahead of minutes of the last Federal Reserve meeting and a reading on core inflation that could add to the risk of interest rates heading higher for longer.Geopolitical tensions were ever present with North Korea firing
SYDNEY : Asian shares were hesitant on Monday as a U.S. holiday made for slow trading ahead of minutes of the last Federal Reserve meeting and a reading on core inflation that could add to the risk of interest rates heading higher for longer.
All of which made for a cautious start and MSCI's broadest index of Asia-Pacific shares outside Japan nudged up 0.3 per cent, after sliding 2.2 per cent last week. Japan's Nikkei was flat, as was South Korea. They warned the failure of the S&P 500 to break resistance at 4,200 could unleash a retreat to 3,800 by March 8.
The Fed's favoured inflation indicator, the core PCE index, is seen rising 0.4 per cent, the biggest gain in five months, while the annual pace may have slowed just a fraction to 4.3 per cent. The prospect of more Fed hikes has lifted Treasury yields and generally supported the dollar, which hit a six-week top on a basket of currencies last week.
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