<\/p>\n

 <\/p>\n

Equities slipped Wednesday following a mixed day on Wall Street, as worries about the world’s top two economies offset optimism that the Federal Reserve will start cutting interest rates next week.<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

Meanwhile, the yen hit its highest level in nine months after a Bank of Japan official said decision-makers would stick to their tightening plan if the economy and inflation perform as expected.<\/p>\n

Nervous traders were also jockeying for position ahead of key US inflation data that could play a role in the central bank’s decision making next week, while oil edged up after Tuesday’s plunge sparked by demand fears.<\/p>\n

Another round of sub-par US jobs data last week revived worries that the world’s top economy was slowing more than expected and could be on course for a recession.<\/p>\n

They came a month after a stock rout caused by an equally bad reading on the labour market and added to debate about whether the Fed had waited too long to cut rates owing to its focus on bringing inflation down.<\/p>\n

Investor uncertainty over the United States is compounded by the ongoing struggles of China’s economy, as leaders there try to kickstart growth in the face of a crisis in the huge property sector, tepid consumer activity and soaring youth unemployment.<\/p>\n

The long-running troubles in the economy, and recent crackdowns on various sector’s by the government, have hammered the mainland and Hong Kong stock markets, which have underperformed in recent years.<\/p>\n

And they fell again Wednesday along with most other markets in the region.<\/p>\n

Tokyo, Sydney, Seoul, Wellington and Manila were also in the red, though Singapore, Taipei and Jakarta edged up slightly.<\/p>\n

Focus now is on the release of the US consumer price index later in the day, hoping for an insight into the Fed’s next move when it concludes its next meeting on September 18 and what it could mean for the economy.<\/p>\n

“Investors have turned their gaze toward the burning question,” said independent analyst Stephen Innes.<\/p>\n

“Soft landing or full-blown recession? Will the Federal Reserve’s easing cycle be a smooth, controlled descent, or are we heading for a fast-and-furious, panic-driven acceleration?<\/p>\n

“There’s still a school of thought that (Fed boss Jerome) Powell might reach into his monetary hat and pull out a surprise 50-basis-point cut. The call might be closer than market odds are pricing, and Powell might be the wildcard that flips the entire narrative.<\/p>\n

“Buckle up because this high-stakes game isn’t over yet.”<\/p>\n

On currency markets, the yen strengthened to 141.51 at one point — its best level since January — after BoJ board member Junko Nakagawa said officials were determined to keep tightening policy.<\/p>\n

The bank’s surprise decision in July to hike for the second time in 17 years was a factor in the global markets sell-off days later as the yen surged and investors unwound their so-called carry trades in which they used the cheap currency to buy high yielding assets like stocks.<\/p>\n

Oil prices ticked higher after being hammered Tuesday, when Brent fell below $70 a barrel for the first time since December 2021 on concerns about the global outlook and after\u00a0the OPEC oil cartel revised down its demand estimates.<\/p>\n

Commentators said that offset expectations for US rate cut and OPEC’s decision to hold out output increases.<\/p>\n

 <\/p>\n

– Key figures around 0230 GMT –<\/h2>\n

 <\/p>\n

Tokyo – Nikkei 225: DOWN 0.8\u00a0percent at 35,867.33\u00a0(break)<\/p>\n

Hong Kong – Hang Seng Index: DOWN 1.1 percent at 17,050.95<\/p>\n

Shanghai – Composite: DOWN 0.7\u00a0percent at 2,724.85<\/p>\n

Dollar\/yen: DOWN at 141.75 yen from 142.44 yen on Tuesday<\/p>\n

Euro\/dollar: UP at $1.1040 from $1.1023<\/p>\n

Pound\/dollar: UP at $1.3095 from $1.3083<\/p>\n

Euro\/pound: UP at 84.31 pence from 84.25 pence<\/p>\n

West Texas Intermediate: UP 0.6\u00a0percent at $66.15 per barrel (close)<\/p>\n

Brent North Sea Crude: UP 0.5\u00a0percent at $69.56 per barrel (close)<\/p>\n

New York – Dow: DOWN 0.2 percent at 40,736.96 points (close)<\/p>\n

London – FTSE 100: DOWN 0.8 percent at 8,205.98 (close)<\/p>\n

 <\/p>\n

Yeswecantv<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

        Equities slipped Wednesday following a mixed day on Wall Street, as worries about the world’s top two economies offset optimism that the Federal Reserve will start cutting interest rates next week.       Meanwhile, the yen hit its highest level in nine months after a Bank of Japan official said decision-makers would stick to their tightening plan if the economy and inflation perform as expected. Nervous traders were also jockeying for position ahead of key US inflation data that could play a role in the central bank’s decision making next week, while oil edged up […]<\/p>\n","protected":false},"author":1,"featured_media":53575,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33,544,562],"tags":[],"class_list":["post-53574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news","category-yeswecantv-news"],"yoast_head":"\n