The Stocks open mixed in Asia Tuesday, after the american values gave up most of their gains on concern that the recent rally was overdone.
He australian stock index fell slightly, while those of Japan and South Korea fluctuated in narrow ranges. Futures for the S&P 500 and Nasdaq 100 were little changed.
The Hong Kong contracts They rose slightly, although a gauge of Chinese companies listed in the United States fell 1.7 percent.
He Japanese Topix Index rose 0.1% percent.
He Australian S&P/ASX 200 Index fell 0.2 percent.
The investors continue to weigh the impact of the modest goal of China growth-which has the positive side of less pressure on inflation- along with the prospect of further rises in interest rates in major economies. The Australian central bank is expected to increase borrowing costs during the Asian session, before attention later turns to the appearance of the president of the Federal Reserve, Jerome Powellin Congress.
The Treasury bond were stable at Asiawith yields high and the 10-year interest rate just below the 4 percent level closely watched.
The australian bonds registered few changes before the decision of the Reserve Bank of Australia, which, according to economists’ forecasts, will mean the tenth consecutive rise in the RBA benchmark. The Australian dollar was stable. Lately it has weakened due to the prospects of the Chinese demand already one Federal Reserve more aggressive.
Later Tuesday, Powell will begin two days of appearances before Senate and House committees. He will have a chance to telegraph how much more policy tightening he thinks is needed ahead of a key jobs report on Friday and the next US interest rate decision on March 22.
The current lack of traction of the equity markets shows that many investors are coming to the conclusion that the recent rally was probably overdone, with the recession risks persistent while the central banks around the world they indicate that they are unlikely to move away from strict monetary tightening anytime soon.
Although it is possible that the peak of the commodity inflationand there are some encouraging signs as to food and other goodssignificant pressures remain on the pricessaid Henrietta Pacquement, head of the global fixed income team at Allspring Global Investments.
“What is more persistent is what we are seeing on the side of the services and that can last a little longer,” he said in Bloomberg Television. Pacquement also warned that the prospects until 2023 are not clear. “There is a small window for a kind of no landing, but I think you also have to keep in mind the recession scenario”.
In the rest of the markets, oil held gains near the highest close in five weeks. Gold went down.