Asia stocks were set to trade lower on Thursday after U.S. Federal Reserve Chairman Jerome Powell dampened hopes of further rate cuts later this year.
"Powell suggested the Fed isn't in a long cutting cycle and that the cut was aimed at insuring against downside global risks, he also added that the cut was not necessarily a one-off," Felicity Emmett, from ANZ Research, wrote said in a morning note.
"This suggests the future policy path will depend on whether global data is feeding negatively back into the US. So far, the manufacturing sector has shown weakness in line with the global slump, but the much larger services sector is holding up," Emmett added.On the economic data front, investors will be watching for the release of a private survey of Chinese economic activity, with the Caixin Purchasing Managers's Index for July set to be released at 9:45 a.m. HK/SIN.
South Korean trade data for July is also due at 8:00 a.m. HK/SIN. Investors will look for clues on the impact of the ongoing trade dispute between Seoul and Tokyo. Last month, Japan placed restrictions on exports of important high-tech materials that are used by South Korean technology companies. The situation could escalate further if Japan removes South Korea from a list of trusted trade partners that enjoy preferential treatment. Prime Minister Shinzo Abe's cabinet plans to endorse Seoul's removal from the so-called 'white list,' which is expected to go into effect late August,Stocks finished lower on Wall Street overnight: The Dow closed 333.75 points down at 26,864.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Asia stocks set to trade lower as investors await Fed rate decisionStocks in Asia were poised to trade lower on Wednesday amid dampened expectations for a resolution to the U.S.-China trade war. Meanwhile, investors await the U.S. Federal Reserve's announcement of its decision on interest rates, set to happen on Wednesday.
Leer más »
Asia stocks higher ahead of Fed, pound pressured by fresh Brexit painAsian stocks edged up on Tuesday as equity investors prepared for an expected U....
Leer más »
Asia stocks gain ahead of Fed, pound pressured by fresh Brexit painAsian stocks gained on Tuesday as equity investors prepared for an expected U.S....
Leer más »
Former Atlanta Fed chair: The Fed is looking at data, not marketsSouthern Company Chairman and CEO Thomas Fanning, joins 'Squawk Box' as a former chairman of the Federal Reserve Bank of Atlanta to discuss what he expects from the Fed's decision on interest rates.
Leer más »
Wall Street set to open lower as focus shifts to Fed meeting, Apple earningsWall Street's main indexes were set to open lower on Tuesday, as worries ab...
Leer más »
US Treasury yields tick lower as investors await Fed rate decisionU.S. government debt prices were higher Wednesday, as investors widely expected the Fed to cut interest rates later in the session.
Leer más »