Economy

The yen was little changed at 149.395 per dollar after dipping to 149.495 earlier for the first time since Nov. 27. It slumped 0.76% in the previous session, and is set for a 0.68% slide this week.

European traders looking to Asia for direction are going to be pulled in two directions, with Hong Kong led lower by property shares as it limped into the Lunar New Year break, while Japan powered to a new post-bubble, 34-year peak.

Market participants believe Beijing is striking a delicate balancing act to support the economy. Signs of persistent deflationary pressure calls for more stimulus measures as fast falling prices have raised real borrowing costs, but aggressive monetary easing could revive depreciation pressure on the Chinese currency and trigger capital outflows.

Analysts pointed to technical factors for the dollar’s pullback, following a two-day rally of as much as 1.4% against Europe’s shared currency after unexpectedly strong U.S. jobs data and more hawkish rhetoric from Federal Reserve Chair Jerome Powell scuppered bets for an early interest rate cut.

Her world tour, along with others by acts including Beyonce and Coldplay, has been cited by some experts as a factor in temporarily spurring inflation in several countries including the United States. Others have said the impact of the concerts on inflation are overstated.

Stock buybacks are projected to increase this year after ebbing in 2023, fueled by forecasts of stronger corporate earnings that are expected to leave companies with excess cash. The total amount of buybacks could rise to $1 trillion on an annualized basis, Deutsche Bank said.

SYDNEY (Reuters) – Asian shares faltered on Thursday after Wall Street took a late spill, while investors stuck to bets for sizable cuts in U.S. interest rates this year even if the kick off might now be a little later than first hoped.

“After assessing the degree of macroeconomic effects of the Noto Peninsula Earthquake by monitoring its impact for about the next one or two months, the bank is highly likely to reach a point where it can normalise monetary policy,” one board member was quoted as saying.

China, which views democratically governed Taiwan as its own territory despite the objections of the Taipei government, has been stepping up military and political pressure to assert those sovereignty claims.

The rate should be lowered as high rates now are people’s burden. People can’t survive,” he told reporters.