HONG KONG (Reuters) – Asian stocks fell on Tuesday after two U.S. Federal Reserve officials made hawkish comments overnight, commodities slumped in China’s economic activity Oil trades fell after losing recent gains from the reopening.
MSCI’s broadest index of non-Japanese Asia-Pacific equities (.MIAPJ0000PUS) It was down 0.17%.
“Last night’s main theme was cautiousness in the stock market as equities capped gains following hawkish comments from two Fed officials. Raphael Bostic and Mary Daly said the Fed was to above 5% and is likely to remain for some time,” Commerzbank said in a customer memo.
S&P500 Index (.SPX) started the week on a bullish tone, gaining more than 1.4% in early US trading on Monday, but gave up all gains and closed slightly lower.
US Treasuries and the US dollar continue to come under pressure, with the 10-year US Treasury yield on Tuesday rising 2.23 basis points to 3.5393% from 3.517% late Monday.
The dollar index was flat.
“Sentiment became more cautious ahead of Thursday’s release of the U.S. consumer price index,” Mizuho Bank said in a report. “Risks” may weaken.”
Atlanta Fed President Raphael Bostic said if U.S. consumer price data confirm the recession seen in the most recent monthly jobs report, he would “take a quarter-point rise more seriously and move in that direction.” said there was a need. read more
Chinese stocks rose for the sixth time in a row on Tuesday, while Hong Kong stocks jumped to a six-month high. But any optimism may be short-lived, said Trinh Nguyen, Emerging Asia economist at Natixis in Hong Kong.
“I think what really tempers a lot of that optimism is the reality of this opening up. Even Hong Kong, although officially open, is quite slow in issuing visas,” said Nguyen. Told.
Chinese benchmark (.CSI300) While Hong Kong’s Hang Seng Index fell, it rose slightly from previous losses to gain 0.15%. (.his) Narrowed down to 0.15%.
Prices for most base metals fell on Tuesday after recent gains boosted by the reopening of the economy in top consumer China, as traders assessed the risks of a global recession and weak consumption.
At 0422 GMT, the three-month copper price on the London Metal Exchange was down 0.8% to $8,786 per tonne.Copper prices hit a six-month high on Monday, while zinc rose 5% on Monday to its highest level since December 15.
Japan’s Nikkei (.N225) Up 0.35%, bucking regional trends.
Core consumer prices in Tokyo rose 4.0% earlier than expected in December, announced Tuesday, prompting the Bank of Japan to phase out massive stimulus as it tweaks yield curve control policies. It supported market expectations of potential. read more
stocks in australia (.AXJO) Down 0.28%.
Crude oil fell slightly on Tuesday on hopes of further interest rate hikes by the US Federal Reserve (Fed). read more
US crude fell 0.5% to $74.26 a barrel, while Brent fell 0.56% to $79.20.
Gold prices rose, rising 0.15% to $1,872.70 an ounce.
S&P 500 E-mini futures showed a weak opening with a dip of 0.17%.
Reported by Serena Lee. Edited by Muralikumar Anantharaman
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