{"id":2016235,"date":"2023-08-29T23:43:02","date_gmt":"2023-08-30T03:43:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/asian-shares-hit-two-week-high-on-fed-pause-bets-china-boost\/"},"modified":"2023-08-29T23:47:12","modified_gmt":"2023-08-30T03:47:12","slug":"asian-shares-hit-two-week-high-on-fed-pause-bets-china-boost","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/asian-shares-hit-two-week-high-on-fed-pause-bets-china-boost\/","title":{"rendered":"Asian shares rise on expectations of a pause in Fed rate hikes and positive developments in China, reaching a two-week high."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">42<\/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%2Fasian-shares-hit-two-week-high-on-fed-pause-bets-china-boost%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=2016235&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>By Ankur Banerjee<\/p>\n<p>SINGAPORE (Reuters) \u2013\u2063 Asian equities rose on Wednesday and\u200b the dollar wobbled as weak U.S. labour data\u200c bolstered bets that the\u200d Federal Reserve was likely done \u200dwith its interest rate hikes, while beaten-down\u2062 China stocks rose for a third straight day.  <\/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><h2>Asian Equities Rise \u200bon Weak U.S. Labor Data<\/h2>\n<\/p>\n<blockquote><p>Asian equities rose on\u2062 Wednesday \u2064and\u200b the \u200cdollar wobbled as weak U.S. labor data bolstered bets that the Federal Reserve was likely done with its \u200cinterest rate hikes, while beaten-down China\u200c stocks rose for a third straight day.<\/p><\/blockquote>\n<p><h3>Positive Momentum in\u2064 Asia-Pacific \u2062Shares<\/h3>\n<\/p>\n<p>MSCI\u2019s broadest index of Asia-Pacific shares outside Japan rose 0.86% to a two-week top and\u200c is on a three-day winning streak. The index\u2063 though is \u2064down 6% in August and set \u2063for its\u2064 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/analysis-wall-st-outlook-darkens-as-grim-inflation-report-tees-up-more-fed-hawkishness\/\" title=\"Analysis-Wall St outlook darkens as grim inflation report tees up more Fed hawkishness\">worst monthly performance<\/a>\u2064 since February. <\/p>\n<p>Japan\u2019s Nikkei was\u2064 up 0.5%, while the Australia\u2019s S&#038;P\/ASX 200\u2064 index rose 0.64%. <\/p>\n<p>China shares have gained this \u2063week following the announcement\u2062 of measures to lift investor confidence, \u200dincluding halving the stock trading stamp \u2064duty, loosening margin loan rules, and putting the \u2062brakes on new listings.<\/p>\n<p>In early trading, the blue-chip\u200d CSI 300 Index was\u200c 0.3%\u200d higher, while Hong Kong\u2019s Hang\u200b Seng\u2063 Index \u2064rose \u200c0.75%.<\/p>\n<p>Analysts though see \u2063a need for more action from Chinese authorities to sustain the rally. \u201cIt will take\u200b more resolute\u2063 policy measures and a\u2064 sustainable recovery in earnings in order for the rally to last,\u201d\u200b Carlos Casanova, senior economist for Asia at UBP, said.  <\/p>\n<p>Investors\u2019 \u2064focus\u2064 will\u2063 be on PMI data\u2063 from China later this week that will highlight\u2064 the state\u200d of the economy.<\/p>\n<p><h3>Market Reaction to U.S. Labor Data<\/h3>\n<\/p>\n<p>Overnight, Wall Street ended sharply higher, while Treasury yields slid \u2063to three-week lows after \u2062data showed U.S. <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-job-openings-plunge-to-nine-month-low-as-labor-demand-eases\/\" title=\"U.S. Job Openings Plunge to Nine-Month Low as Labor Demand Eases\">job openings dropped<\/a> to the\u2063 lowest\u2064 level \u200din\u2064 nearly 2-1\/2 years in July, signaling easing labor market pressures. [.N]\n<p>\u201c\u2018Bad news is good news,\u2019\u2062 as the data supported bets for a sooner end of the Fed\u2019s hiking cycle despite the recent hawkish rhetoric of Fed Chair \u2064Powell,\u201d Tina Teng, markets analyst \u200bat \u200bCMC Markets, said in a note.<\/p>\n<p>With the Fed highlighting that the interest rate path \u200cwill be heavily\u2063 dependent on\u200c data, traders are tweaking their \u2064bets \u2064based on the latest indicators.<\/p>\n<p>Markets are pricing \u200din an\u200c 89% chance of the Fed\u200b standing pat at its meeting\u2064 next month, the CME FedWatch tool showed, and are now pricing in \u2062a 50% chance of another pause at \u2064the November meeting compared with a 38% chance a \u200cday earlier. <\/p>\n<p>A much clearer economic picture will likely be revealed \u2064later in the week when U.S. payrolls and personal consumption expenditure reports are due.  <\/p>\n<p>U.S. Treasury yields were stable in Asian \u2063hours. The two-year U.S. Treasury yield, which typically moves in \u2063step with interest\u2064 rate \u2062expectations, \u200dwas up 1.3 basis points at 4.903%, easing away from the three week low of 4.871% it touched on \u2064Tuesday. [US\/]\n<p><h3>Impact on Currency\u200b and Commodities<\/h3>\n<\/p>\n<p>The drop in yields put \u200bpressure on a buoyant dollar. [FRX\/] Against a basket of\u2062 currencies, the dollar inched\u2064 up 0.029% to 103.58 after \u200dslipping\u2064 nearly 0.4% on Tuesday.<\/p>\n<p>The yen weakened \u200b0.15% to \u200d146.09 per dollar and remained at levels that led to intervention in \u2063the currency market last year \u200cby Japanese authorities. <\/p>\n<p>The\u2063 Australian dollar fell 0.32%\u200b to $0.646 after \u200bdata showed Australian consumer price inflation slowed to a\u200b 17-month low in July, signaling that interest rates\u200c might not have to rise again.<\/p>\n<p>U.S. crude rose 0.32%\u200b to $81.42 per barrel and \u2063Brent was at $85.69, up 0.23%. Both \u200bbenchmarks rallied more than a dollar a barrel on Tuesday on a soft\u2063 dollar. [O\/R]\n<p>Traders will be closely watching cocoa prices\u200d on Wednesday after the London cocoa futures \u2062on ICE rose to \u2063a 46-year high\u200d on Tuesday, buoyed by tightening supplies.<\/p>\n<p>Top cryptocurrency bitcoin eased a bit in early Asian hours to trade at $27,554 after rising 7% on \u200dTuesday. A federal \u2063appeals court ruled on Tuesday that the U.S. \u200bsecurities regulator was wrong to reject an \u200bapplication from Grayscale\u2064 Investments to create a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/asian-shares-hit-two-week-high-on-fed-pause-bets-china-boost\/\" title=\"Asian shares rise on expectations of a pause in Fed rate hikes and positive developments in China, reaching a two-week high.\">spot \u2062bitcoin\u200d exchange-traded fund<\/a>.<\/p>\n<\/p>\n<p>  (Reporting by Ankur Banerjee; \u200cEditing by Edmund \u2063Klamann)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/asian-shares-hit-two-week\/attachment\/passersby-are-reflected-on-an-electric-stock-quotation-board-outside-2\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>New Reports Reveal President Biden&#8217;s \u200cUse \u200bof Fake Names in Emails<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Tropical Storm Idalia Approaches Florida, Controversy\u200b Surrounds Gadsden Flag<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Former\u200c President Trump to Face Trial\u2062 in January\u200d 6th Case<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Deadly Wildfire in Maui Sparks Lawsuit Against Hawaiian Electric<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Swiss SEBA Bank Receives Approval for Crypto Services in Hong Kong<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>OpenAI Expected to Generate\u200c Over\u2064 $1 Billion in \u200cRevenue from AI Sales<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>British \u2064Officials Warn \u200dAbout Risks of AI-Driven\u200b Chatbots<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Brazil&#8217;s Central Bank Focuses on Privacy and Blockchain Understanding<\/h2>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Asian equities gained and the dollar faltered as disappointing US labor data increased speculation that the Federal Reserve would halt interest rate hikes. Meanwhile, Chinese stocks rebounded for the third consecutive day. MSCI&#8217;s Asia-Pacific shares index, excluding Japan, climbed 0.86%.<\/p>\n","protected":false},"author":66,"featured_media":2016236,"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-2016235","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\/2016235","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=2016235"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2016235\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2016236"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2016235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2016235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2016235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}