jilihot
Hong Kong, China — Equities fluctuated Friday and the dollar maintained its gains against its peers as investors assessed the fallout from the Federal Reserve’s outlook for interest rate cuts and possible impact of Donald Trump’s presidency on the economy.
Data showing Japanese inflation rose more than expected last month did little to help the yen, which took a hefty hit from the US central bank’s more hawkish tilt and the Bank of Japan’s refusal to tighten monetary policy.
Article continues after this advertisementTraders are now awaiting the release later in the day of data on US personal consumption expenditure — the Fed’s preferred gauge of inflation and the last major piece of data for the year.
FEATURED STORIES BUSINESS BSP unveils new polymer banknote series BUSINESS BIZ BUZZ: MVP confirms John Hay plans BUSINESS Free toll on SMC expressways on Christmas, New Year's EveREAD: Global stocks mostly fall as US Treasury yields climb
free casino bonus no depositWall Street provided a meek lead, having squandered an early bounce from Wednesday’s plunge that was sparked by the Fed’s changed rate forecast, with sentiment weighed by a jump in Treasury yields to their highest level since May.
Article continues after this advertisementAsia also struggled to recover from the previous day’s losses.
Article continues after this advertisementTokyo, Shanghai, Manila and Jakarta edged up, but Hong Kong, Sydney, Singapore, Seoul, Wellington and Taipei sank.
Article continues after this advertisementUS monetary policymakers on Wednesday cut rates as expected, but their closely watched “dot pot” guidance on future moves showed they saw two reductions next year, compared with four previously targeted.
Data showing a forecast-topping rise in US economic growth and consumer spending did little to ease concerns that the Fed will keep borrowing costs higher for longer.
Article continues after this advertisementMeanwhile, swaps markets are pricing in less than two for all of 2025.
Fed boss Jerome Powell acknowledged Wednesday that Trump’s economic plans, including tariff hikes, tax cuts and mass deportations, have been a consideration as policymakers weigh their rate cut estimates.
“Some did identify policy uncertainty as one of the reasons for their writing down more uncertainty around inflation,” he said after the Fed’s announcement Wednesday.
Investors are keeping a watch on developments in Washington after the House of Representatives rejected a Republican-led funding bill to avert a government shutdown, with federal agencies due to run out of cash on Friday night and cease operations starting this weekend.
The legislation would have kept the government open through March and suspended the borrowing limit for president-elect Donald Trump’s first two years in office.
But it was sunk by Republican debt hawks, dealing a blow to their leader and his incoming “efficiency czar” Elon Musk, who had put the package forward after sabotaging a bipartisan one amid complaints about items in the text allegedly ballooning its overall cost.
The benchmark PSEi fell by 1.50 percent, or 112.73 points, to close at 7,424.52 while the broader All-Shares index slipped by 1.08 percent, or 44.05 points, to settle at 4,033.36.
The dollar held on to its latest gains against its major peers, sitting at a five-month high near 158 yen, with some observers suggesting Japanese officials could be eyeing a possible intervention in currency markets.
The greenback was also at a two-year high against the euro.
Key figures around 0230 GMTTokyo – Nikkei 225: UP 0.2 percent at 38,889.95 (break)
Hong Kong – Hang Seng Index: DOWN 0.2 percent at 19,709.82
Shanghai – Composite: UP 0.1 percent at 3,372.82
Euro/dollar: UP at $1.0365 from $1.0364 on Thursday
Pound/dollar: DOWN at $1.2493 from $1.2496
Dollar/yen: UP at 157.40 yen from 157.35 yen
Euro/pound: UP at 82.97 pence from 82.91 pence
West Texas Intermediate: DOWN 0.3 percent at $69.15 per barrel
Brent North Sea Crude: DOWN 0.4 percent at $72.60 per barrel
New York – Dow: UP less than 0.1 percent at 42,342.24 (close)
Subscribe to our daily newsletter
London – FTSE 100: DOWN 1.1 percent at 8jilihot,105.32 (close)
READ NEXT Agri group urges House to sign bill revitalizing livestock ind... Bank of England keeps main UK interest rate on hold at 4.75% EDITORS' PICK From low-hanging fruits to higher ambitions Miss Universe Asia Chelsea Manalo gears up for two parades this weekend Marcos, Cabinet comb 2025 budget for ‘insertions’ Chavit Singson’s ratings takes biggest jump in Dec tangere survey PCG: Over 32,000 passengers seen in ports nationwide Trinity Rodman says relationship with father Dennis Rodman is strained MOST READ Comelec warns against 2025 election 'advanced victory' scheme MJ Lastimosa shocked as name dragged into ‘infidelity’ scandal SC fires judge involved in wife’s illegal deals Chavit Singson’s ratings takes biggest jump in Dec tangere survey Follow @FMangosingINQ on Twitter --> View commentsjilihot A person walks in front of an electronic stock board...
MANILA, Philippines If President Marcos wont veto it, the la...
MANILAjilihot, Philippines Infrastructure builder San Miguel...
jiliko FILE – The Bank of England is pictured in Londo...
Powered by YG777-yg777 slot-yg777 casino RSS Map HTML Map