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CAC 40 Subdued On Rate Hike Jitters
(RTTNews) - French stocks were little changed in cautious trade on Wednesday, a day after Federal Reserve Chair Jerome Powell flagged sharper rate hikes to rein in stubbornly high inflation depending on incoming data.
It is now believed that the Fed would revert to a 50-basis point rate hike at the March 21-22 policy meeting instead of 25 bps expected earlier.
The dollar climbed to three-month highs and the U.S. yield curve inverted further, denting demand for riskier assets.
The benchmark CAC 40 was marginally lower at 7,332 after declining half a percent the previous day.
Aerospace and defense company Thales Group tumbled 3 percent despite posting higher earnings and sales for 2022.
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Japanese Market Slightly Higher
The Japanese stock market is slightly higher in post-holiday trading on Tuesday after opening well in the red, extending the gains in the previous three sessions, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving well above the 52,450 level, with gains in exporters and automaker stocks partially offset by weakness in index heavyweights, technology and financial stocks.
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Indonesia Stock Market To Remain Rangebound On Tuesday
The Indonesia stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had picked up almost 100 points or 1.2 percent. The Jakarta Composite Index now sits just above the 8,275-point plateau and it's likely to see little movement on Tuesday.
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Mild Upside Seen For Hong Kong Stock Market
The Hong Kong stock market on Monday ended the three-day losing streak in which it had dropped more than 520 points or 2 percent. The Hang Seng Index now rests just above the 26,150-point plateau and it's tipped to open in the green on Tuesday.
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Australian Market Notably Lower
The Australian stock market is trading notably lower on Tuesday, reversing the gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,850 level, with weakness in iron ore miners, financial, energy and technology stocks partially offset by gains in gold miners and stocks.
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China Stock Market May Spin Its Wheels On Tuesday
The China stock market on Monday ended the two-day slide in which it had dropped more than 60 points or 1.5 percent. The Shanghai Composite Index now sits just above the 3,975-point plateau and it's likely to be rangebound on Tuesday.
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Japan Manufacturing PMI Sinks To 48.2 In October - Jibun Bank
The manufacturing sector in Japan continued to contract in October, and at a faster pace, the latest survey from Jibun Bank revealed on Tuesday with a manufacturing PMI score of 48.2.
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Tech Shares May Boost Taiwan Stock Market
The Taiwan stock market on Monday snapped the two-day slide in which it had slipped more than 60 points or 0.2 percent. The Taiwan Stock Exchange now sits just above the 28,330-point plateau and it may tick higher again on Tuesday.
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Singapore Shares May Remain Stuck In Neutral On Tuesday
The Singapore stock market on Monday wrote a finish to the three-day slide in which it had slipped more than 20 points or 0.5 percent. The Straits Times Index now sits just beneath the 4,450-point plateau although it may spin its wheels on Tuesday.
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