Asian stock markets sank Monday after strong U.S. jobs data fanned fears of more interest rate hikes to cool inflation
The Nikkei 225 JP:NIK in Tokyo advanced 0.8%. The Hang Seng HK:HSI in Hong Kong sank 2.3% while the Shanghai Composite Index CN:SHCOMP fell 1%.The Nikkei 225 NIK in Tokyo advanced 0.8%. The Hang Seng HSI in Hong Kong sank 2.3% while the Shanghai Composite Index SHCOMP fell 1%.Singapore STI gained while stocks in Taiwan Y9999 and Jakarta JAKIDX retreated. New Zealand financial markets were closed for a holiday.
On Wall Street, the benchmark S&P 500 SPX fell 1% on Friday to 4,136.48 after the government reported the economy added 517,000 jobs in January. That was double December’s 260,000 and more than double the 185,000 expected by economists. The data dampened investor hopes that lower inflation might persuade the Fed and other central banks to ease off plans for more rate increases. They worry central bankers might be willing to tip the global economy into recession to stop inflation that is near multi-decade highs.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan government has sounded out Amamiya about becoming BOJ governor -NikkeiJapan's government has sounded out Bank of Japan (BOJ) Deputy Governor Masayoshi Amamiya to succeed incumbent Haruhiko Kuroda as central bank governor, the Nikkei newspaper reported early on Monday, citing anonymous government and ruling party sources.
Read more »
Japan government has sounded out Amamiya about becoming BOJ governor, Nikkei reportsJapan's government has sounded out Bank of Japan (BOJ) Deputy Governor Masayoshi Amamiya to succeed incumbent Haruhiko Kuroda as central bank governor, the Nikkei newspaper reported early on Monday, citing anonymous government and ruling party sources.
Read more »
Asian American creatives say disclosing their layoffs to their families can be complicatedDisclosing news about layoffs and the career changes that follow can present a set of obstacles for Asian Americans in creative fields if their jobs aren’t considered traditionally stable by family members’ standards, many workers and experts say.
Read more »
Asian Stock Market: Bears in command as China stocks see the red, Fed concerns propel yieldsAsian Stock Market: Bears in command as China stocks see the red, Fed concerns propel yields – by anilpanchal7 Asia RiskAppetite Equities China Fed
Read more »
‘Super Bowl Monday’ could soon become official holiday in one stateTennessee football fans, rejoice. Super Bowl Monday may soon be an official holiday in the Volunteer State.
Read more »