September 27, 2022

The Catholic Transcript

Complete News World

Asian stocks closed lower on fears of US monetary tightening

  • In the monetary policy meeting minutes, the Fed indicated yesterday that it plans to begin cutting its balance sheet starting in May.

at bagsAsia It closed at a year low on Thursday after the negative performance of Wall Street after the Federal Reserve (feed itthe US central bank) yesterday that it intends to be more aggressive in the fight against it economic inflation.

The Japanese Nikkei fell 1.69% in Tokyo today to 26,888.57 points, while the Hang Seng fell 1.23% in Hong Kong to 21,808.98 points, the South Korean Kospi fell 1.43% in Seoul at 2,695.86 points, and the Taiex recorded a decrease of 1.96. % in Taiwan 17,178.63 points.

at China The Shanghai Composite Index on the mainland fell 1.42% to 3236.70 points, and the less comprehensive Shenzhen index showed a more expressive loss, by 1.90%, to 2087.53 points.

In the monetary policy meeting minutes, the Fed indicated yesterday that it plans to begin cutting its balance sheet starting in May. In addition, the document shows that many central bank officials consider a one or more 50 basis point increase in US interest rates likely in future meetings. In March, the Fed raised its policy rate by 25 basis points, the first adjustment since 2018.

In response to the minutes, the New York Stock Exchange incurred losses for the second consecutive trading session yesterday.

The Fed’s more “hard-line” (in favor of withdrawing stimulus) comes at an uncomfortable time with the spread of war Between Russia and Ukraine, new outbreaks COVID-19 In China and global inflationary pressures.

See also  Check the results of the Mega-Sena 2448 contest; The prize is 30.7 million Brazilian riyals

In Oceania, the Australian Stock Exchange was also in the red today, with the S&P/ASX 200 Index down 0.63% in Sydney, at 7,442.80 points.