Asian stocks lower as Fed reinforces message of faster asset reduction By Investing.com

By Gina Lee

Investing.com – Asia-Pacific stocks were mostly down on Friday morning as investors continued to assess the risks associated with the new variant of omicron COVID-19. US Treasury yields reduced the rise from comments from the US Federal Reserve suggesting it may step up the pace of its asset reduction.

China edged up 0.11% at 9:23 pm ET (2:23 am GMT) while China edged up 0.18%. The, released, was 52.1 in November.

Hong Kong listed developer Kaisa Group Holdings Ltd. (HK 🙂 also did not get approval for their debt swap plan.

Hong Kong slipped 1.27%.

Japan was down 0.21% and South Korea’s down 0.10%.

In Australia, the index fell 0.10%.

The Fed has argued for faster asset reduction through officials such as Fed Governor Randal Quarles, Atlanta Fed Chairman Raphael Bostic, and San Francisco Fed Chairman, Mary Daly. Fed Chairman Jerome Powell takes a similar position, with US Treasury Secretary Janet Yellen saying she understands the “reasoning” behind the Fed’s plans.

Some investors remain cautious, although some concerns about omicron have dissipated over hopes that current vaccines will remain effective or be fine-tuned.

“The market environment is changing,” Steven Wieting, chief investment strategist at Citigroup Private Bank, told Bloomberg.

“Monetary policy, fiscal policy are all in decline. This does not mean a declining market. But it won’t be like the rebound, the strong recovery we’ve had for almost every asset over the past year. “

On the data side, 222,000 US were deposited throughout the week. Investors are now awaiting the latest US jobs report, including, due later today.

Meanwhile, U.S.-listed Chinese stocks posted losses on Thursday, after the U.S. Securities and Exchange Commission announced plans to implement new law. The law requires foreign companies to open their books or risk being kicked from the New York Stock Exchange and the Nasdaq within three years.

Didi Global Inc. (NYSE 🙂 will begin preparations to exit the New York Stock Exchange and list on the Hong Kong Stock Exchange, the company said earlier today.

Meanwhile, shares of Grab Holdings Ltd. sank Thursday on their first day of trading on the NASDAQ board. The listing follows the company’s merger with Altimeter Growth Corp., approved on Tuesday, and the largest transaction to date for a special purpose acquisition company.

Disclaimer: Fusion media would like to remind you that the data contained in this site is not necessarily real time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by the exchanges but rather by the market makers, and therefore the prices may not be exact and may differ from the actual market price, which means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media assumes no responsibility for any business losses that you may incur as a result of the use of such data.

Fusion media or anyone involved with Fusion Media will not accept any responsibility for any loss or damage resulting from reliance on any information, including data, quotes, graphics and buy / sell signals contained in this website. Please be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.