Shore News Network on Nostr: Asian stocks firm, take China Fitch downgrade in their stride ========== Asian stocks ...
Asian stocks firm, take China Fitch downgrade in their stride
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Asian stocks traded higher on Wednesday, unfazed by a rating downgrade to China by Fitch. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.7%. Fitch affirmed China’s sovereign rating at ‘A+’ even though the outlook was downgraded to negative. China’s blue chip CSI300 index was down 0.43% while the Shanghai Composite was down 0.34%. Hong Kong’s Hang Seng Index was trading up 1.88%. Australian shares were up 0.3%, while Japan’s Nikkei stock index was down 0.4%. The dollar rose 0.01% against the yen to 151.78. U.S. consumer price data due on Wednesday is expected to show a rise in headline inflation to 3.4% year-on-year. The prospect of a U.S. interest rate cut as early as June is now being considered by financial markets. The Dow Jones index finished down 0.02%, the S&P 500 gained 0.1%, while the Nasdaq Composite rose 0.3%. U.S. crude ticked up slightly to $85.34 a barrel. Brent crude rose to $89.52 per barrel. Spot gold traded at $2,352.93 per ounce.
#AsianStocks #China #FitchDowngrade #StockMarket
https://www.shorenewsnetwork.com/2024/04/10/asian-stocks-firm-take/
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Asian stocks traded higher on Wednesday, unfazed by a rating downgrade to China by Fitch. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.7%. Fitch affirmed China’s sovereign rating at ‘A+’ even though the outlook was downgraded to negative. China’s blue chip CSI300 index was down 0.43% while the Shanghai Composite was down 0.34%. Hong Kong’s Hang Seng Index was trading up 1.88%. Australian shares were up 0.3%, while Japan’s Nikkei stock index was down 0.4%. The dollar rose 0.01% against the yen to 151.78. U.S. consumer price data due on Wednesday is expected to show a rise in headline inflation to 3.4% year-on-year. The prospect of a U.S. interest rate cut as early as June is now being considered by financial markets. The Dow Jones index finished down 0.02%, the S&P 500 gained 0.1%, while the Nasdaq Composite rose 0.3%. U.S. crude ticked up slightly to $85.34 a barrel. Brent crude rose to $89.52 per barrel. Spot gold traded at $2,352.93 per ounce.
#AsianStocks #China #FitchDowngrade #StockMarket
https://www.shorenewsnetwork.com/2024/04/10/asian-stocks-firm-take/