{"id":47258,"date":"2024-05-21T08:35:25","date_gmt":"2024-05-21T08:35:25","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/05\/21\/asian-shares-decline-on-fed-rate-concerns\/"},"modified":"2024-05-21T08:35:25","modified_gmt":"2024-05-21T08:35:25","slug":"asian-shares-decline-on-fed-rate-concerns","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/05\/21\/asian-shares-decline-on-fed-rate-concerns\/","title":{"rendered":"Asian Shares Decline On Fed Rate Concerns"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> Asian stocks ended lower on Tuesday as a stimulus-driven China rally paused and minutes of the May 2024 Reserve Bank of Australia meeting showed the central bank considered increasing interest rates during the meeting.<\/p>\n<p>Gold slipped from record highs touched the previous day and the dollar firmed up after U.S. Federal Reserve officials tempered investor enthusiasm about potential interest-rate cuts. <\/p>\n<p>Oil prices dipped despite a recent uptick in geopolitical tensions and chances of crude oil production and export getting affected in the aftermath of Iranian president&#8217;s death in a helicopter crash. <\/p>\n<p>China&#8217;s Shanghai Composite index dropped 0.42 percent to 3,157.97, dragged down by cyclical shares.<\/p>\n<p>Hong Kong&#8217;s Hang Seng index slumped 2.12 percent to 19,220.62, with electric vehicle and <span class=\"landLinks\">technology<\/span> stocks leading losses. <\/p>\n<p>Alibaba Group Holding fell over 1 percent after its cloud unit further slashed the API input price for its GPT-4 class &#8220;Qwen-Long&#8221; foundation model from the Tongyi Qianwen series.<\/p>\n<p>Seoul stocks declined ahead of the release of the minutes from the U.S. Federal Reserve&#8217;s latest monetary policy meeting. <\/p>\n<p>The Kospi average dipped 0.65 percent to 2,724.18, with Posco Holdings and LG Chem falling around 2 percent each. IT services company Samsung SDS surged 5 percent. <\/p>\n<p>Australian <span class=\"landLinks\">markets<\/span> ended slightly lower as hawkish RBA minutes weighed. The benchmark S&amp;P ASX 200 dropped 0.15 percent to 7,851.70 while the broader All Ordinaries index settled 0.15 percent lower at 8,120.20.<\/p>\n<p>James Hardie Industries, the largest global maker of fibre cement products, plunged 14.8 percent after lowering its fiscal 2025 outlook.<\/p>\n<p>Casino operator Star Entertainment Group lost 7.4 percent after Hard Rock International denied any involvement in a takeover bid.<\/p>\n<p>Diagnostics firm Sonic Healthcare gave up 6 percent after cutting its FY24 guidance. <br \/>Across the Tasman, New Zealand&#8217;s benchmark S&amp;P NZX-50 index ended down 0.51 percent at 11,675.99.<\/p>\n<p>U.S. stocks ended mixed overnight as Treasury yields climbed on hawkish comments from Federal Reserve officials.<\/p>\n<p>The tech-heavy Nasdaq Composite climbed 0.7 percent to close at a record high ahead of Nvidia&#8217;s closely watched earnings report.<\/p>\n<p>The S&amp;P 500 finished marginally higher while the Dow slipped half a percent after closing above 40,000 Friday. <\/p>\n<\/p>\n<p>Market Analysis<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>Asian Shares Decline On Fed Rate Concerns<\/a><br \/>\n<br \/>2024-05-21 08:35:25<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asian stocks ended lower on Tuesday as a stimulus-driven China rally paused and minutes of the May 2024 Reserve Bank of Australia meeting showed the central bank considered increasing interest&#8230;<\/p>\n","protected":false},"author":2,"featured_media":47259,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1535139262971-c51845709a48?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=1950&q=80","fifu_image_alt":"","footnotes":""},"categories":[30],"tags":[],"class_list":["post-47258","post","type-post","status-publish","format-standard","has-post-thumbnail","category-asian-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/47258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=47258"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/47258\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/47259"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=47258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=47258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=47258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}