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  4. Asian Stocks Down after Fed Chair Acknowledges the Risk of a Recession
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Asian Stocks Down after Fed Chair Acknowledges the Risk of a Recession

By Zhang Mengying AiVIF.com – Asia Pacific stocks were mostly down on Thursday morning as investors assessed the monetary policy outlook after U.S. Federal Reserve Chair Jerome...
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Asian Stocks Down after Fed Chair Acknowledges the Risk of a Recession © Reuters.

By Zhang Mengying

AiVIF.com – Asia Pacific stocks were mostly down on Thursday morning as investors assessed the monetary policy outlook after U.S. Federal Reserve Chair Jerome Powell acknowledged the risk of a recession.

Japan’s Nikkei 225 fell 0.23% by 11:06 PM ET (3:06 AM GMT).

South Korea’s KOSPI slid 0.65%.

In Australia, the ASX 200 rose 0.21%.

Hong Kong’s Hang Seng was up 0.65%.

China’s Shanghai Composite was up 0.42% while the Shenzhen Component was down 0.10%.

U.S. 10-year Treasuries yields declined two basis points to 3.13%.

Investors’ concerns grew as Fed Chair Jerome Powell acknowledged the risk of a recession. Powell said that an aggressive interest rate hike could lead to an economic contraction and called a soft landing “very challenging” in his testimony to the Senate Wednesday.

“We are still in an era where uncertainty is elevated and is expected to remain so for quite a while,” Advisors Capital Management portfolio manager JoAnne Feeney told Bloomberg.

“It’s risky right now in terms of the forward outlook for the global economy. Recession risk has clearly risen.”

Powell “has acknowledged that rates will continue to increase, but the FOMC committee is cognizant of watching incoming data, suggesting the Fed will not be exclusively on autopilot with tightening,” Integrity Asset Management portfolio manager Joe Gilbert told Bloomberg.

Powell will continue his testimony to the House later in the day.

On the data front, U.S. initial jobless claims is due on Thursday while U.S. University of Michigan consumer sentiment will be released on Friday.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (3)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

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Sell (3)

GBP/USD

1.2475

-0.0015 (-0.12%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

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AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

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USD/CAD

1.3780

+0.0003 (+0.03%)

Summary

↑ Buy

Moving Avg:

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EUR/JPY

168.32

+0.10 (+0.06%)

Summary

↑ Buy

Moving Avg:

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Neutral

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Gold Futures

2,295.80

-7.10 (-0.31%)

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Moving Avg:

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Silver Futures

26.677

+0.023 (+0.09%)

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Copper Futures

4.5305

-0.0105 (-0.23%)

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Crude Oil WTI Futures

81.14

-0.79 (-0.96%)

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Brent Oil Futures

85.62

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Natural Gas Futures

1.946

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US Coffee C Futures

213.73

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Euro Stoxx 50

4,920.55

-60.54 (-1.22%)

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S&P 500

5,035.69

-80.48 (-1.57%)

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DAX

17,921.95

-196.37 (-1.08%)

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FTSE 100

8,144.13

-2.90 (-0.04%)

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Sell

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Hang Seng

17,763.03

+16.12 (+0.09%)

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US Small Cap 2000

1,973.05

-42.98 (-2.13%)

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IBEX 35

10,854.40

-246.40 (-2.22%)

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Neutral

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BASF SE NA O.N.

49.155

+0.100 (+0.20%)

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Bayer AG NA

27.35

-0.24 (-0.87%)

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Allianz SE VNA O.N.

266.60

+0.30 (+0.11%)

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Adidas AG

226.40

-5.90 (-2.54%)

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Deutsche Lufthansa AG

6.714

-0.028 (-0.42%)

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Neutral

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Siemens AG Class N

175.90

-1.74 (-0.98%)

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Deutsche Bank AG

15.010

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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Cập nhật 01-05-2024 10:45:19
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$2,285.72-47.5-2.04%
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RON 95-V25.44025.940
RON 95-III24.91025.400
E5 RON 92-II23.91024.380
DO 0.05S20.71021.120
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Dầu hỏa 2-K20.68021.090
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USD25.088,0025.458,00
EUR26.475,3627.949,19
GBP30.873,5232.211,36
JPY156,74166,02
KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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