MSCI Asia Pacific Gauge Falls 0.6% as Warsh's Hawkish Comments Stoke Rate-Hike Bets
Updated
Updated · Bloomberg · Aug 31
MSCI Asia Pacific Gauge Falls 0.6% as Warsh's Hawkish Comments Stoke Rate-Hike Bets
3 articles · Updated · Bloomberg · Aug 31
Summary
MSCI’s Asia Pacific equities gauge slid as much as 1% before trimming losses to 0.6%, with technology shares leading the regional selloff.
Kevin Warsh’s hawkish remarks bolstered expectations for a Federal Reserve rate increase next month, keeping the dollar firm and pressuring risk assets.
South Korea’s Kospi dropped 1.6% as AI-linked chipmakers Samsung Electronics and SK Hynix fell, underscoring the hit to growth-sensitive sectors.
US stock-index futures also retreated, while oil rose as intensifying Middle East tensions added another source of market strain.