Asian stocks sink on Fitch’s US debt warning FMTNews FMTBusiness
Nerves have been rattled across global markets owing to a lack of real headway in the US Congress deadlock.
Talks earlier this week between President Joe Biden and Republican House Speaker Kevin McCarthy were described as “productive” but the two sides have made little progress since, with Republicans demanding spending cuts but Democrats calling for a “clean” increase. The firm said the move “reflects increased political partisanship that is hindering reaching a resolution to raise or suspend the debt limit” before June 1, when the US Treasury Department warned the government will run out of money, triggering a default.
“However, we believe risks have risen that the debt limit will not be raised or suspended before the X-date and consequently that the government could begin to miss payments on some of its obligations.” Much of Asia followed suit Thursday with Hong Kong down more than one percent, while Shanghai, Sydney, Seoul, Singapore, Manila, and Jakarta were also in the red. Tokyo and Taipei edged up.
Minutes from the US central bank’s most recent policy meeting showed officials split on what to do at their June gathering, with inflation still more than double the two percent target.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian bishops play it safe, offer no clear vision for AsiaHerald Malaysia - daily news source with Malaysian and Global coverage of the Catholic Churches. Catholic News,World Christian News, Malaysia Church News
Read more »
Last emperor of China’s watch sells for record US$5.1milAn Asian collector in Hong Kong bought the rare Patek Philippe over the phone.
Read more »
Suave To Sinister: Recounting Lee Chow Meng, M’sia’s Infamous Serial Rapist & “Very Own Ted Bundy”Some even described him as the 'Asian Backstreet Boy.' Suave To Sinister: Recounting Lee Chow Meng, M’sia’s Infamous Serial Rapist & “Very Own Ted Bundy”
Read more »
Fake image of Pentagon blast sparks US stock market panicThe purported image of the Pentagon blast was shared by multiple verified Twitter accounts with blue check marks. theSun theSundaily viralnews fakenews Pentagon USA
Read more »
Last emperor of China’s watch sells for record US$5.1milAn Asian collector in Hong Kong bought the rare Patek Philippe over the phone.
Read more »
Suave To Sinister: Recounting Lee Chow Meng, M’sia’s Infamous Serial Rapist & “Very Own Ted Bundy”Some even described him as the 'Asian Backstreet Boy.' Suave To Sinister: Recounting Lee Chow Meng, M’sia’s Infamous Serial Rapist & “Very Own Ted Bundy”
Read more »