HONG KONG, Nov 1 — Most Asian markets rose today, with Tokyo leading the way as a win for Japan’s ruling party in a weekend general election fuelled hopes it will push ahead with a fresh stimulus, though Hong Kong was hit by data showing further weakness in China’s economy. News that...
HONG KONG, Nov 1 — Most Asian markets rose today, with Tokyo leading the way as a win for Japan’s ruling party in a weekend general election fuelled hopes it will push ahead with a fresh stimulus, though Hong Kong was hit by data showing further weakness in China’s economy.
“Given is well expected, more interest is likely to be in Chair Powell’s press conference and whether this hints the Fed is becoming less comfortable with the inflation picture and whether they are starting to see the case for multiple hikes in 2022 as the market is pricing,” said National Australia Bank’s Rodrigo Catril.
While investors are coming to terms with the prospect of rising borrowing costs, markets continue to press higher, with all three main indexes on Wall Street ending at records on Friday, thanks to a largely healthy earnings season. Hong Kong and Shanghai also fell after China released data Sunday showing factory activity contracted more than expected in October owing to a supply crunch, rising input costs and new lockdowns to fight another Covid outbreak.
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