Asian stock markets weakened due to patient approach to rate cuts amid inflation persistence.
Asian stock markets weakened as policymakers take a patient approach to rate cuts amid inflation persistence. MSCI's Asia-Pacific shares outside Japan dropped 0.57%, with Australia's S&P/ASX 200 index declining 0.8%, worsened by falling commodity prices and geopolitical tensions, including China's military activities. Investors reduced bets on global rate cuts due to the Federal Reserve's policy meeting minutes and inflation data.
May 23, 2024
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