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Asia shares count on Powell to stay accommodative


Added 07-10-19 02:03:01am EST - “Asian shares pulled ahead on Wednesday while rising Treasury yields lifted the d...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Asia shares count on Powell to stay accommodative”. Below is an excerpt from the article.

SYDNEY (Reuters) - Asian shares pulled ahead on Wednesday while rising Treasury yields lifted the dollar as investors waited anxiously to hear if the world’s most powerful central banker would confirm or confound expectations for U.S. easing this month.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS advanced 0.4%, after three sessions of losses.

South Korea .KS11 edged up 0.4%, but Japan's Nikkei .N225 lagged with a loss of 0.1%. E-Mini futures for the S&P 500 ESc1 were flat, while EUROSTOXX STXEc1 and FTSE FFIc1 futures pointed to small opening gains in Europe.

Chinese blue chips .CSI300 barely budged as data showed inflation remained stubbornly subdued despite a spike in pork prices.

A worrying lack of inflation globally is one reason investors are counting on Federal Reserve Chair Jerome Powell to sound suitably dovish when testifying to Congress on Wednesday.

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