11 Jan 2022
Dollar and Asian Stocks Remain Stable as Investors Zero in on Fed Policy
The Index Today
Asian stocks and the dollar remained stable on Tuesday as investors zeroed in on the U.S. Federal Reserve’s monetary policy. MSCI’s broadest index of Asia-Pacific shares outside Japan plunged by 0.3% before stabilizing.
Fed Chair Jerome Powell is set to meet with the Senate Bank Committee to be considered as head for a second term. The Omicron surge in the U.S. is also having a substantial hold on the markets as COVID-19 cases hit a record high in the country on Monday.
The Nikkei index dropped by 1.3% while China’s 300 index soared and Hong Kong notched up by 0.1%. Seoul and Taiwan dropped by 0.3% and 0.4% respectively.
Asian equities have exhibited a comparatively more favorable performance this year marked by upswings in Hong Kong and Indian shares. However, the Chinese and Japanese markets have faced drops.