Asian markets traded higher as inflation in Japan approached an 8-year high; China keeps the benchmark lending rate unchanged

Technology and casino stocks in Hong Kong support the broader index

Australia’s central bank says argument to boost slow rate hikes

The RBA board members saw the case for the slowdown in the pace of interest rate increase becoming stronger, according to the minutes of the September 6 meeting, as it raised the interest rate by 50 basis points. to 2.25%.

“The board expects to increase interest rates further over the coming months, but is not on the predetermined path given the uncertainties surrounding the inflation and growth outlook,” he said in minutes released on Tuesday.

He added that inflation expectations over the medium term remained “well anchored”.

The RBA said future interest rate increases will be guided by data and expectations for inflation and labor markets.

– Abigail

CNBC Pro: Goldman says copper demand is about to rise. Below are the stocks that are expected to benefit from it

There could be a copper deficit on the horizon, as demand is expected to pick up on a rally toward net zero — and some metal stocks could shine in that scenario, according to Goldman Sachs.

CNBC Pro subscribers can read more here.

– Weezin Tan

China keeps key lending rates unchanged

The People’s Bank of China kept its one-year and five-year loan key interest rates unchanged, in line with expectations in a Reuters poll.

The one-year prime rate remains at 3.65%, and the five-year rate closely related to mortgage loans is at 4.3%. China cut both rates last month.

– Abigail

CNBC Pro: Fund manager says bear market will turn ‘bad’

Fund manager Cole Smid believes the stock market is still in the early stages of a bear market – and warns that it will not be a “diversified” market.

But he does not lose any sleep on it. Here is the reason:

Professional subscribers can read more here.

– Xavier Ong

Japan’s core inflation accelerated in August

Government data showed that Japan’s core consumer prices rose 2.8% in August compared to a year ago.

This is the fastest growth in nearly eight years, and the fifth consecutive month that inflation has exceeded the central bank’s 2% target.

Analysts polled by Reuters had forecast an increase of 2.7 percent and consumer prices 2.4 percent in July.

The Japanese yen rose slightly to 142.96 per dollar.

– Abigail

Stocks ended Monday’s choppy session higher

Stocks swung on Monday but ended the session in positive territory as a big week for the Federal Reserve kicked off.

The Dow Jones Industrial Average closed up 197.26 points, or 0.64%, to settle at 31,019.68. The S&P 500 jumped 0.69% to 3,899.89 and the Nasdaq Composite rose 0.76% to 11,535.02.

– Samantha Sobin

The 10-year Treasury yield jumps above 3.5%, hitting its highest level since 2011

The benchmark 10-year Treasury yield surged to 3.5% Monday morning, hitting its highest level since 2011 as investors brace for a longer period of interest rates amid the Federal Reserve’s fight against inflation.

Treasury yields soared above the plate last week after the August CPI report showed a surprise price increase. With that said, the 10-year hold largely held near its June highs of 3.495% before rallying again on Monday.

The last 10 years traded with a return of 3.506%, up nearly 6 basis points. Returns move opposite the price, 1 basis point equal to 0.01%.

– Jesse Pound

#Asian #markets #traded #higher #inflation #Japan #approached #8year #high #China #benchmark #lending #rate #unchanged

Leave a Comment

Your email address will not be published.