A look at the day ahead in Asian markets from Jamie McGeever.
raised interest rates by a quarter percentage point to a 10-year high on Tuesday as expected, and said more tightening was needed. Investors were looking for a sign it might soon pause, but none was forthcoming.
Australian stocks slumped 2.5% and the MSCI Asia ex-Japan stock index fell 1.2%, its biggest fall in over two weeks. Next up on Wednesday is theOf course, investor sentiment can also be soured by good old-fashioned growth fears. This was to blame for Tuesday's U.S. market selloff afterSome days, investors look at sluggish activity through the 'bad news is good news' lens, betting that weak data will prevent central banks from raising rates too much.
The MSCI World index posted its biggest decline since early October and has now fallen three days in a row, something also not seen in two months. This is the tone Asian markets will likely open with on Wednesday, with the RBI rate decision as well as Chinese trade and Australian GDP data likely to set the early direction.
Will bad news be bad news and good news be good news, or bad news be good news and good news be bad news?- India interest rate decision
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