{"id":143543,"date":"2021-11-03T04:30:04","date_gmt":"2021-11-03T04:30:04","guid":{"rendered":"https:\/\/precoinnews.com\/?p=143543"},"modified":"2021-11-03T04:30:04","modified_gmt":"2021-11-03T04:30:04","slug":"global-shares-linger-at-peaks-ahead-of-fed-move","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/global-shares-linger-at-peaks-ahead-of-fed-move\/","title":{"rendered":"Global shares linger at peaks ahead of Fed move"},"content":{"rendered":"

HONG KONG (Reuters) – Global shares hovered at record highs while currency markets and U.S. Treasuries were steady on Wednesday, as investors looked to the expected winding down of pandemic-era monetary stimulus in the world\u2019s largest economy.<\/p>

FILE PHOTO: A man wearing a face mask is seen inside the Shanghai Stock Exchange building, as the country is hit by a novel coronavirus outbreak, at the Pudong financial district in Shanghai, China February 28, 2020. REUTERS\/Aly Song<\/figcaption>

The Federal Reserve is expected to announce the tapering of its $120 billion-a-month asset purchase programme in its policy statement at 1800 GMT. Ahead of the much anticipated meeting, Asian shares failed to follow a strong lead from Wall Street.<\/p>\n

Markets are almost certain the Fed will taper but are looking to see if policymakers will give any hints about the possibility of interest rate hikes next year.<\/p>\n

\u201cWhile confidence remains that the Fed will begin its taper, there is scepticism around just how hawkish they will be on the rate hike front,\u201d said analysts at Westpac in a morning note to clients.<\/p>\n

Federal Reserve officials are trying to maintain a balance between raising rates to ensure inflation remains contained and giving the economy as much time as possible to restore the jobs lost since the pandemic.<\/p>\n

MSCI\u2019s broadest index of Asia-Pacific shares outside Japan lost 0.33% in early trading on Thursday. Japanese markets were closed for a public holiday.<\/p>\n

\u201cThe shape of markets in our region may be driven more by what happens to Treasury and dollar markets overnight than what happens locally,\u201d said Rob Carnell, ING\u2019s Asia Pacific head of research, in a note.<\/p>\n

The Australian benchmark share index was the biggest gainer, rising 1.3%. But those gains were outweighed by falls in Hong Kong\u2019s Hang Seng off 1%, and South Korea\u2019s KOSPI down 1.2%, even as local fintech Kakao Pay Corp saw its shares double in value from their initial public offering price on their trading debut.<\/p>\n

Chinese shares were steady after data showed service sector activity expanded in October.<\/p>\n

On Tuesday, MSCI\u2019s all-country world index, which tracks equity performance in 50 nations, closed at a record high, helped by all three major U.S. stock indexes hitting intraday peaks during the session, and a record finish from Europe\u2019s STOXX 600 index. [.N] [.EU]<\/p>\n

Strong earnings supported shares in both Europe and North America.<\/p>\n

In contrast the Asian regional benchmark has been trending down since early this year, and is off more than 13% from its February peak, as it struggles to rebound from sweeping regulatory changes in China in the summer, which roiled sectors from property to technology.<\/p>\n

Moves in currency markets were muted on Thursday. The dollar kept within sight of its recent highs against the yen and euro.<\/p>\n

The Aussie dollar was steady on Wednesday, having dropped 1.2% against the dollar on Tuesday after more dovish remarks from the Reserve Bank of Australia, even as it abandoned its short-term yield target.<\/p>\n

Also in central bank news, the Bank of England on Thursday could become the first of the world\u2019s biggest central banks to raise rates after the coronavirus crisis.<\/p>\n

U.S. benchmark 10-year Treasury yields were steady at 1.5540%, a little off last month\u2019s recent top of 1.7%.<\/p>\n

Oil prices fell on Wednesday as industry data pointed to a big build in oil stocks in the United States, the world\u2019s largest oil consumer, and as pressure mounted on OPEC to increase supply. [O\/R]<\/p>\n

Brent crude fell 1.2% to $83.74 a barrel while U.S. crude tumbled 1.5% to $82.65 a barrel.<\/p>\n

Spot gold slipped 0.2%. [GOL\/]<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

HONG KONG (Reuters) – Global shares hovered<\/p>\n","protected":false},"author":3,"featured_media":143542,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nGlobal shares linger at peaks ahead of Fed move - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/global-shares-linger-at-peaks-ahead-of-fed-move\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global shares linger at peaks ahead of Fed move - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"HONG KONG (Reuters) – Global shares hovered\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/global-shares-linger-at-peaks-ahead-of-fed-move\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-03T04:30:04+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/11\/Global-shares-linger-at-peaks-ahead-of-Fed-move.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/global-shares-linger-at-peaks-ahead-of-fed-move\/\",\"url\":\"https:\/\/precoinnews.com\/business\/global-shares-linger-at-peaks-ahead-of-fed-move\/\",\"name\":\"Global shares linger at peaks ahead of Fed move - 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