Most Asian stocks advance as attention turns to Warsh speech
Asian stocks mostly rose Friday ahead of a closely watched speech by Federal Reserve boss Kevin Warsh that investors will be parsing for clues about the outlook for interest rates amid elevated inflation and no sign of an end to the Middle East crisis. With the euphoria following Nvidia's blistering earnings report petering out, the attention is back on the economy as debate surrounds if or when…
Most Asian stocks rose on Friday. The attention of investors turned to a speech by Federal Reserve boss Kevin Warsh for clues about the outlook for interest rates. This comes amid elevated inflation and no sign of an end to the Middle East crisis.
The euphoria following Nvidia's earnings report had petered out, and attention was back on the economy. Debate surrounds if or when the US central bank will tighten monetary policy. According to Investing.com, South Korea's KOSPI lost ground, with heavyweight chipmaking stocks such as SK Hynix and Samsung Electronics falling between 1.5% and 2.5%.
Traders are hoping Warsh's speech at the annual meeting of central bankers and economic leaders at Jackson Hole, Wyoming, will give them insight into decision-makers' thinking. Inflation remains well above the 2% target, and worries about price rises have put upward pressure on long-term Treasury yields.
Brief written by urgent.news from Al-Monitor, Investing.com, CNA - Business, Channel News Asia, Business Recorder — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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