{"id":2006576,"date":"2023-08-21T00:21:02","date_gmt":"2023-08-21T04:21:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/asia-stutters-as-china-doles-out-meagre-rate-cut\/"},"modified":"2023-08-21T00:23:05","modified_gmt":"2023-08-21T04:23:05","slug":"asia-stutters-as-china-doles-out-meagre-rate-cut","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/asia-stutters-as-china-doles-out-meagre-rate-cut\/","title":{"rendered":"China&#8217;s meagre rate cut leaves Asia stuttering."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fasia-stutters-as-china-doles-out-meagre-rate-cut%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2006576&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p><strong>Asian Markets Stumble as China&#8217;s Stimulus Falls Short<\/strong><\/p>\n<p>By Wayne Cole<\/p>\n<p>SYDNEY (Reuters) \u2013 Asian markets stumbled on Monday after China delivered a smaller cut to lending rates than markets had counted on,\u200b continuing Beijing\u2019s run of \u2062disappointing stimulus steps.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>China\u2019s\u2064 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/shares-slide-dollar-dominates-as-rate-hike-fears-mount\/\" title=\"Shares slide, dollar dominates as rate hike fears mount\">central bank trimmed<\/a> its one-year lending rate\u200b by 10 basis points and left its five-year rate unmoved, a \u2064surprise to analysts who had expected cuts of 15 basis points to both.<\/p>\n<p>Disappointment at the meagre move saw Chinese blue chips \u200bease 0.3%, while the Australian dollar took a dip as a liquid proxy for \u200cChina risk.<\/p>\n<p>Investors have been hoping for a repeat of the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/charles-gasparino-uks-new-pm-rishi-sunak-must-spur-expansion-cut-spending\/\" title=\"Charles Gasparino: UK\u2019s New PM Rishi Sunak Must Spur Expansion, Cut Spending\">massive fiscal spending<\/a> that has juiced the economy in the past, but Beijing seems reluctant to\u200d add to\u200d its borrowing tasks.<\/p>\n<p>MSCI\u2019s broadest index of Asia-Pacific shares outside Japan slipped 0.3% to a fresh low \u200bfor the year,\u2063 adding to a 3.9% dive last week.<\/p>\n<p>Japan\u2019s Nikkei was still up 0.3%, though that\u2063 follows a \u200c3.2% drop last week.<\/p>\n<p>EUROSTOXX 50 futures and FTSE futures were near\u200b flat. S&#038;P 500 futures were 0.1% firmer, while Nasdaq futures \u2063added 0.2%. Earnings\u2063 from AI-darling Nvidia on Wednesday will be a major test of valuations.<\/p>\n<p>Analysts are concerned the market has got too long, especially of tech, leaving it vulnerable to a \u200ddeeper pullback. <\/p>\n<p>BofA\u2019s latest survey \u200dof <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/asia-stutters-as-china-doles-out-meagre-rate-cut\/\" title=\"China's meagre rate cut leaves Asia stuttering.\">fund managers found \u2062sentiment<\/a> was the least bearish since\u200d February 2022, while cash levels were at nearly a two-year low, and 3 out of 4 surveyed expect a soft landing or no landing for the global economy.<\/p>\n<p>Analysts at Goldman Sachs, meanwhile, argue \u200dthere\u2062 is \u200cstill scope for investors to add \u200bto equity positions. <\/p>\n<p>\u201cThe\u2063 re-opening of the buy-back\u2063 blackout window will provide a boost to equity\u200b demand in coming weeks although\u200b a flurry of expected\u200b equity issuance this fall may provide a partial offset,\u201d \u200bthey wrote in\u200c a note.<\/p>\n<p><strong>Parsing Powell<\/strong><\/p>\n<p>Stock valuations have been\u2063 pressured in part by a \u2062sharp rise in bond\u200d yields, with the U.S. 10-year hitting 10-month highs last week at 4.328%. <\/p>\n<p>Early Monday, yields were up again at 4.28% and a break\u2062 above 4.338% would take them to levels not seen since 2007.<\/p>\n<p>Markets assume\u200d Federal Reserve Chair\u200d Jerome Powell will note the jump in yields at the Jackson Hole conference this week, and the\u200b recent run of strong economic data. The Atlanta Fed\u2019s GDP Now tracker is running at a heady\u2063 5.8% for this quarter.<\/p>\n<p>\u201cIt\u2019s an opportunity for Powell to\u2064 give an updated assessment on economic conditions,\u200b which now appear stronger\u200b than anticipated and reinforce \u200dthe case for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-feds-favorite-inflation-measure-hits-four-decade-high\/\" title=\"The Fed\u2019s Favorite Inflation Measure Hits Four-Decade High\">additional rate hikes<\/a>,\u201d said Barclays analyst \u2063Marc Giannoni.<\/p>\n<p>\u201cEven so, we would be surprised \u2064if \u2062he provided specific guidance, with key August prints \u200bfor employment, CPI and retail sales all to come before the September meeting.\u201d<\/p>\n<p>A majority of polled analysts think\u2063 the Fed is \u200bdone hiking, while\u2062 futures imply around a 31% chance of one more increase by December.<\/p>\n<p>The rise in yields has helped the dollar notch\u200b five weeks of\u200c gains and a \u200bnine-month top on the Japanese yen at 146.56. On Monday, it was \u200dtrading at 145.30 with the market wary of risk of Japanese intervention. [USD\/]\n<p>The euro was also firm at 157.96 \u200cyen, but under pressure from the dollar at $1.0871\u2064 after losing 0.7% last week. <\/p>\n<p>The ascent of the \u2062dollar and yields was weighing \u2064on gold at $1,887 an ounce, having \u2062touched a five-month low last week. [GOL\/]\n<p>Oil prices edged\u2062 higher on Monday, having snapped a seven-week winning streak as concerns \u200dabout Chinese demand offset tight supplies.\u200d [O\/R]\n<p>Brent was up 38 cents at $85.18\u2062 a barrel, while \u200bU.S. crude bounced\u200c 45 cents to $81.70 per barrel.<\/p>\n<p>Prices for liquefied natural gas (LNG) were underpinned by the risk of a strike at Australian offshore facilities that could affect around 10% of global supply.<\/p>\n<\/p>\n<p>  (Reporting by Wayne Cole; Editing by Shri Navaratnam)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/asia-stutters-as-china\/attachment\/a-passerby-walks-past-an-electric-monitor-displaying-various-countries-2\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>POSO Dog Rescue Honors Shelter \u200dDogs\u2062 on International \u2062Homeless Animal \u2062Day<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Major Headlines in the U.S. This Week<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>California Senate Candidate Eric Early Discusses Rising Crime in the State<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Suspected North Korean Hackers Target U.S.-South \u200bKorea Military Exercise<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>California Autos Regulator Investigates Incidents Involving GM&#8217;s Autonomous Vehicles<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>JetZero Receives U.S. Air Force Backing for Building Demonstrator<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Asian markets fell on Monday as China&#8217;s central bank announced a smaller-than-expected cut to lending rates. This disappointing move adds to Beijing&#8217;s string of underwhelming stimulus measures. Analysts were surprised by the 10 basis point reduction in the one-year lending rate, while the five-year rate remained unchanged.<\/p>\n","protected":false},"author":66,"featured_media":2006577,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2006576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2006576","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2006576"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2006576\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2006577"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2006576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2006576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2006576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}