SYDNEY : Asian shares got off to a subdued start 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
SYDNEY : Asian shares got off to a subdued start 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 was largely flat, after sliding 2.2 per cent last week. Japan's Nikkei dipped 0.2 per cent and South Korea 0.4 per cent. They warned the repeated failure of the S&P 500 to break resistance at 4,200, could unleash a retreat to 3,800 by March 8.
The latter means figures on U.S. personal consumption expenditures due this Friday are expected to show a 1.3 per cent jump in January, more than recovering from weakness in the prior two months. 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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