EconomyLens.com
No Result
View All Result
Saturday, July 12, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Other

Asian markets track Wall St rally as US inflation eases rate fears

David Peterson by David Peterson
December 23, 2024
in Other
Reading Time: 7 mins read
A A
3
61
SHARES
759
VIEWS
Share on FacebookShare on Twitter

Investors have welcomed data showing US inflation came in below expectations last month. ©AFP

Hong Kong (AFP) – Asian markets rose Monday after big gains on Wall Street, with traders welcoming below-forecast US inflation data that tempered worries that the Federal Reserve will take a more hawkish tone with interest rates next year. A holiday-thinned week got off to a healthy start after last week’s sell-off sparked by the US central bank’s outlook that suggested officials will not lower borrowing costs as much as previously hoped over the next 12 months.

Related

Boeing evades MAX crash trial with last-minute settlement

Stocks fall as Trump ramps up tariff threats

Trump’s tariff threats and delays: state of play

Trump threatens Canada with higher tariff, mulls further global levies

The main moments of Paris Couture Week

Sharp losses in reaction to the forecasts were pared after data showed the personal consumption expenditures (PCE) index, the Fed’s preferred gauge of inflation, came in at 2.4 percent on-year in November. While the reading was up slightly from October, it was lower than expected, providing some optimism that policymakers were winning the battle against prices and would have room to keep cutting rates. The figures led to a pullback in US Treasury bond yields that had jumped last week to their highest levels since May, helped by comments from Chicago Fed chief Austan Goolsbee, who expressed confidence that inflation was returning to the bank’s two percent target.

Still, there remains some trepidation among investors as Donald Trump prepares to return to the White House, pledging to cut taxes, slash regulations and impose tariffs on imports, which some economists warn could reignite inflation. Ronald Temple, chief market strategist at Lazard, said in a commentary: “The initial response to the US election was positive as investors focused on the obvious tailwinds to profitability: lower corporate tax rates and less regulation. However, I expect much more dispersion within the equity market when the reality of a much-less-friendly trade environment sets in.”

All three main indexes in New York ended more than one percent higher. Asia followed suit, with Tokyo, Hong Kong, Sydney, Singapore, Seoul, Taipei, Mumbai, Bangkok, and Manila all in the green. Shanghai was the sole decliner. London, Frankfurt, and Paris were all lower in early European trade. The dollar also held losses suffered in the wake of the PCE data, with the yen, pound, and euro all stronger than Thursday.

Investors were also cheered by news that US lawmakers had reached a deal to avert a Christmastime government shutdown following marathon talks on Friday. The last-minute scramble came after Trump and billionaire Elon Musk pressured Republicans to abandon an earlier bipartisan funding compromise. Lawmakers then spent several days trying to hammer out another deal, with massive halts to government services hanging in the balance. Non-essential operations would have ground to a halt if no deal had been struck, with up to 875,000 workers furloughed and 1.4 million more required to work without pay.

“This agreement represents a compromise, which means neither side got everything it wanted,” President Joe Biden said on signing the bill on Saturday. “But it rejects the accelerated pathway to a tax cut for billionaires that Republicans sought.”

– Key figures around 0900 GMT –

Tokyo – Nikkei 225: UP 1.2 percent at 39,161.34 (close)

Hong Kong – Hang Seng Index: UP 0.8 percent at 19,883.13 (close)

Shanghai – Composite: DOWN 0.5 percent at 3,351.26 (close)

London – FTSE 100: DOWN 0.2 percent at 8,065.68

Euro/dollar: DOWN at $1.0419 from $1.0431 on Friday

Pound/dollar: UP at $1.2576 from $1.2567

Dollar/yen: UP at 156.52 yen from 156.45 yen

Euro/pound: DOWN at 82.85 pence from 82.98 pence

West Texas Intermediate: UP 0.5 percent at $69.78 per barrel

Brent North Sea Crude: UP 0.4 percent at $73.24 per barrel

New York – Dow: UP 1.2 percent at 42,840.26 (close)

London – FTSE 100: DOWN 0.3 percent at 8,084.61 (close)

© 2024 AFP

Share24Tweet15Share4Pin5Send
Previous Post

Sweet smell of success for niche perfumes

Next Post

Honda and Nissan expected to begin merger talks

David Peterson

David Peterson

Related Posts

Other

Defence, joint debt and farmers: EU draws budget battle lines

July 11, 2025
Other

Trump floats 15 to 20% blanket tariff on trading partners

July 10, 2025
Other

China’s economy likely grew 5.2% in Q2 despite trade war: AFP poll

July 10, 2025
Other

US targets attempts to dodge Trump tariffs with China in crosshairs

July 10, 2025
Other

Why is Trump lashing out at Brazil?

July 10, 2025
Other

Global stocks mostly rise, shrugging off US tariff threats

July 10, 2025
Next Post

Honda and Nissan expected to begin merger talks

Luxury Western goods line Russian stores, three years into sanctions

Honda and Nissan to launch merger talks

Global stock markets edge higher as US inflation eases rate fears

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
3 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

New York ruling deals Trump business a major blow

72

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Boeing evades MAX crash trial with last-minute settlement

July 11, 2025

Fuel to Air India jet engines cut off moments before crash: probe

July 11, 2025

France probes X over claims algorithm enabled ‘foreign interference’

July 11, 2025

Stocks fall as Trump ramps up tariff threats

July 11, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.