A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.Whatever is driving Wall Street higher - the finishing line of the Fed's rate-hiking cycle, a falling dollar or strong earnings - it is not really filtering through to Asian markets.The disconnect between Asia
Whatever is driving Wall Street higher - the finishing line of the Fed's rate-hiking cycle, a falling dollar or strong earnings - it is not really filtering through to Asian markets.
A solid batch of second quarter earnings from some of the largest U.S. banks and financial firms on Tuesday kept the U.S. stock market juggernaut rolling. Bulls in Asia will be hoping some of that momentum drives local trading on Wednesday.The MSCI Asia equity index ex-Japan is up 4.6 per cent this year, significantly underperforming the MSCI World index, S&P 500 and Nasdaq which are up 17 per cent, 19 per cent and 38 per cent, respectively.
The economy's sluggishness is even raising the prospect that China may be entering an era of much slower economic growth, and may never get rich. More immediately, the whole gamut of U.S.-China tensions is back on investors' radar - climate, defense and security, and semiconductors and tech.
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