Asian shares rise despite weak China data
Asian markets climbed Monday as investors brushed off fresh evidence indicating that China’s manufacturing sector is shrinking, while some analysts said it could prompt lawmakers to loosen monetary policy.
Asian markets climbed Monday as investors brushed off fresh evidence indicating that China’s manufacturing sector is shrinking, while some analysts said it could prompt lawmakers to loosen monetary policy.
Asia’s markets were mixed in edgy trade on Wednesday after Russia ratcheted up tensions in Eastern Europe by formally absorbing Crimea from Ukraine.
The Janet Yellen era at the Federal Reserve begins in earnest this week with a two-day meeting, a policy statement and fresh economic forecasts. Yet all that will be a prelude to the marquee event: Yellen’s first news conference as Fed chair.
The central bank has called for calm in financial markets following statements by the United States’ top monetary official emphasizing the need for continued stimulus to support the American economy.
The dollar rose in Asia Friday following better-than-forecast US growth figures, which also eased concerns about emerging markets after a heavy sell-off this week.
National Treasurer Rosalia de Leon on Wednesday said the higher interest rates on peso-denominated government securities was an “overreaction” of the market to the US Federal Reserve’s tapering mode.
The Federal Reserve says it paid the federal government $77.7 billion in 2013. That was down from the record set in 2012 but still far above payment levels before the Great Recession.
World stock markets were muted Thursday amid concern an improved U.S. economy might prompt the Federal Reserve to reduce its stimulus faster than previously expected.
The local stock barometer rallied back to the 6,000 level on Thursday after the US Federal Reserve unveiled a modest – and widely anticipated – tapering of its monetary stimulus that has buoyed emerging market assets.
Asian stocks markets were muted Friday despite an uptick in China’s manufacturing as investors continued to fret that the Fed will begin cutting its stimulus as soon as January.
The dollar was mixed in Asia Tuesday as investors await the end of a two-day Federal Reserve policy meeting for clues about the bank’s plans for its stimulus program.
The dollar Wednesday tumbled against other major currencies after the Federal Reserve’s surprise decision to maintain its aggressive monetary stimulus program.
