(ANSA) – MILAN, SEPTEMBER 11 – Asian stock markets are falling on fears about the resilience of the Chinese economy and uncertainty about the size of the rate cut that the Fed will decide next week, with investors leaning towards a 50 basis point cut, convinced that Powell waited too long before acting. After the televised debate between the US presidential candidates saw Kamala Harris press Donald Trump and gain strength in the polls, attention today shifts to US inflation, expected to slow from 2.9 to 2.6% in August, and to the ECB meeting on Thursday, which should record a rate cut of 25 basis points. Tokyo is down 1.5%, weighed down by the yen’s rise, to its highest level of the year against the dollar after a member of the BoJ confirmed that it will continue its tightening of monetary policy. Hong Kong loses 1.1%, Shanghai 1%, Shenzhen 0.1%, Seoul 0.6% and Sydney 0.3%. US futures are down less than half a percentage point while those on Europe are little changed. Oil is trying to raise its head, after the sharp drops of the last few sessions, in the wake of fears about the economy and demand, but Brent, despite rising 1%, remains just below 70 dollars a barrel (69.9) while WTI is trading at 66.4 dollars. The wait for the Fed’s moves continues to push down Treasury yields, down 2 basis points, to 3.62%, and weakens the dollar, down 0.2% against the euro, with which it trades at 1.104. (ANSA).
2024-09-12 02:56:33