Asian Markets Slide as Oil Spikes and BOJ Signals More Rate Hikes
IXIC sits 27% above its 52-week low of $20,690.249.
Summary
Asian equities fell broadly on Thursday, tracking Wall Street's decline as crude oil climbed to $96.70 a barrel and the Bank of Japan signaled further rate hikes. The Hang Seng dropped 1.46%, Australia's ASX fell 1.39%, and Japan's Nikkei lost 0.38%, with the Topix down 0.65%. BOJ board member Kazuyuki Masu reaffirmed plans to keep raising policy rates as inflation nears 2%, adding to global tightening concerns. U.S. equity futures were steady, with Nasdaq futures flat, suggesting the selloff may pause. The moves extend a multi-day risk-off stretch driven by Middle East tensions and rising yields, with upcoming U.S. inflation data and the Fed's September meeting as the next key events.
At the time of this announcement, IXIC was trading at $26,253.34 on NASDAQ in the Finance sector. The 52-week trading range was $20,690.25 to $27,190.21. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.