MSCI’s broadest index of Asia-Pacific shares outside Japan was 1.44% higher, but the Nikkei was mostly flat
Singapore — Asian equities rose sharply on Wednesday, tracking a relief rally on Wall Street and as US inflation data delivered no nasty surprises, reinforcing hopes the Federal Reserve will go for a smaller rate hike when it meets next week.
Data on Wednesday showed China’s industrial output in the first two months of 2023 rose 2.4% from the year earlier, accelerating from a 1.3% annual rise seen in December. The data slightly missed forecasts for a 2.6% rise in a Reuters poll of analysts. Investors were also relieved after February’s US inflation report on Tuesday showed consumer prices rising by 0.4%, with a year-on-year gain of 6% — in line with analyst expectations, as there were worries that stronger-than-expected data might lead the Fed to go for jumbo-sized hikes to battle inflation.
US treasury yields extended gains into Asian hours after sharp declines at the start of the week. The yield on 10-year treasury notes was up 3.8bps to 3.674%.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian shares slide as SVB contagion fear spooks marketsTokyo banks index on course for steepest drop in nearly six months
Read more »
Business Maverick: Asian stocks drop, led by banks amid rates turmoil: markets wrapAsian equities extended declines on Tuesday, led by weakness in financial stocks as the collapse of Silicon Valley Bank continued to reverberate across global markets.
Read more »
Asian markets sink as SVB contagion fears hit banking sectorAsian markets sank Tuesday, with banks bearing the brunt of the selling on fears of contagion in the sector after the collapse of two regional US lenders.
Read more »
Night warmth for street dwellers spoilt by JMPDA JMPD By-law enforcement operation spoilt the warmth for street dwellers in Hillbrow after officers poured water onto their fire.
Read more »
Business Maverick: Now That the Fed Broke Something, Traders Blow Up Rate-Hike BetsOne year after the Federal Reserve started frantically raising interest rates, the collapse of Silicon Valley Bank answered what had become perhaps the hottest question on Wall Street: When is something going to break?
Read more »