Asia stocks struggle even as China slashes rates
Asian shares were pinned below 1-1/2 month highs on Tuesday as even a larger-than-expected interest rate cut in China failed to excite investors jaded at the lack of bigger stimulus measures.
February 20, 2024
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Dollar ticks up as investors gauge rates outlook
The dollar inched higher on Monday after rising for the fifth week straight on the back of strong inflation data, while the yen traded near the psychologically important 150 level.
Asia FX creeps lower, dollar firm as China rate cut gives little support
Most Asian currencies crept lower on Tuesday amid persistent concerns over a slowing Chinese economic recovery and higher-for-longer U.S. interest rates, while the dollar edged up and remained near three-month highs.
Gold prices tread water as rate cut woes persist
Gold prices kept to a tight range in Asian trade on Tuesday amid persistent concerns over higher-for-longer interest rates, while a U.S. market holiday also made for scant immediate trading cues.
Australia stocks lower at close of trade; S&P/ASX 200 down 0.08%
The best performers of the session on the S&P/ASX 200 were Appen Ltd (ASX:APX), which rose 15.71% or 0.06 points to trade at 0.41 at the close. Meanwhile, Nuix Ltd (ASX:NXL) added 13.08% or 0.22 points to end at 1.95 and ARB Corporation Ltd (ASX:ARB) was up 9.87% or 3.53 points to 39.30 in late trade.