- January 20, 2023
- Posted by: Stratford Team
- Category: Economy
TOKYO, Jan 20 (Reuters) – Most Asian equity markets edged higher on Friday, while the U.S. dollar hung near its weakest level since May, with investors fretting about the risks of a global recession as the Federal Reserve presses on with interest rate increases.
U.S. Treasury yields remained elevated in Tokyo after bouncing off four-month lows overnight. Japanese government bond yields stayed depressed, two days after the Bank of Japan defied investor pressure to loosen yield curve controls further.
Japan’s Nikkei (.N225) added 0.16%, while Australia’s benchmark (.AXJO) edged 0.09% higher, although South Korea’s Kospi (.KS11) slipped 0.24%.
Hong Kong’s Hang Seng (.HSI) advanced 0.75% and mainland blue chips (.CSI300) were 0.32% firmer.
Asian markets showed some resilience despite a selloff on Wall Street overnight, with the S&P 500 (.SPX) losing 0.76%. E-Mini futures indicated a small bounce at the reopen though, gaining 0.24%.
Worries about more Fed…
