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BusinessAFP NewsAsian markets struggle even as US data fuels rate cut talk
Asian markets drifted Friday following a mixed day on Wall Street, with data showing a continued fall in US inflation unable to relight the buying that characterised much of November.While Wall Street had a mixed night, November was a strong month, with the Nasdaq and S&P 500 both up around 10 percent.
BusinessAFP NewsFalling inflation gives equities a boost
Data showing lower inflation in the United States and Europe lifted stocks Thursday, with the dollar advancing as traders bet on faster ECB interest rate cuts following the surprisingly big drop in European prices.A key pricing measure used by the US Federal Reserve to set interest rates eased further last month amid a drop in energy prices, according to government data published on Thursday.
- BusinessReuters SG
EMERGING MARKETS-Asian FX log monthly gains on growing Fed rate cut bets
(.) * South Korean won records biggest monthly gain * Asian FX subdued for the day * India to report GDP data later in day By Archishma Iyer Nov 30 (Reuters) - Most emerging Asian currencies were set to log monthly gains against the U.S. dollar on Thursday on rising bets that the Federal Reserve would cut policy rates earlier than expected, triggering entries into riskier assets. The South Korean won rose about 4.5% for the month, its biggest gain since last November, while the Taiwan dollar and Thailand's baht rose about 3.8% and 2.8%, respectively, with the former snapping a seven-month losing run. The Indonesian rupiah also snapped a six-month losing streak to gain nearly 2.5%, while the Vietnamese dong recorded its first monthly gain since March.
