Markets Roiled By Recession Risk, Rampant Dollar - Doo Prime News
Doo Prime News > Industry Dynamics > Markets Roiled By Recession Risk, Rampant Dollar

SYDNEY, Sept 28 (Reuters) – Asian share markets sank on Wednesday as surging borrowing costs intensified fears of a global recession, spooking investors into the arms of the safe-haven dollar and punishing currencies across the region.

Yields on U.S. 10-year Treasuries were shoved above 4.0% for the first time since 2010 as markets wagered the Federal Reserve might have to take rates past 4.5% in its crusade against inflation.

Full coverage: REUTERS

Why No News May Be Good News For China-watching Investors

HONG KONG, Sept 28 (Reuters) – Investors are dialling back risk exposure ahead of China’s Communist Party Congress in October and sticking money in the relative safety of mainland blue chips as they await signs Beijing is ready to address problems hanging over the economy.

The ChinaAMC China 50 ETF (510050.SS), the country’s largest exchange-traded fund, has witnessed a near 30% jump in its assets this month, channeling more than 10 billion yuan ($1.40 billion) into Shanghai’s 50 biggest stocks.

Full coverage: REUTERS

Oil Prices Fall More Than 1% As Dollar Scales New Peak

SINGAPORE, Sept 28 (Reuters) – Oil prices fell more than 1% on Wednesday, pressured by a strengthening dollar and crude storage builds that offset support from U.S. production cuts caused by Hurricane Ian.

Brent crude futures fell $1.02, or 1.2%, to $85.25 per barrel by 0630 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down 97 cents, or 1.2%, at $77.53 per barrel. Both contracts had risen over 2% in the previous session.

Full coverage: REUTERS

Dollar Sweeps To 20-year High, Sterling On The Ropes Again

SINGAPORE, Sept 28 (Reuters) – Nervous financial markets propelled the safe-haven dollar to a fresh two-decade peak on Wednesday as rising global interest rates fed recession worries, while sterling languished near all-time lows on fears over Britain’s radical tax cut plans.

The U.S. dollar index against a basket of major currencies rose about 0.5% to hit a new high of 114.70 in Asia trade.

The relentless upward march of the dollar came as benchmark U.S. 10-year Treasury yields rose to 4% for the first time since 2010, topping at 4.004%. The two-year yields stood at 4.2891%.

Full coverage: REUTERS

Chinese Snap Up Used Rolexes, Birkins To Satsify Luxury Cravings Amid Slowdown

SHANGHAI, Sept 28 (Reuters) – China’s coronavirus-driven economic slowdown is proving to be a boon for Zhu Tainiqi, the Shanghai-based founder of second-hand luxury goods marketplace ZZER, who is now scouting for shop space to expand the business.

The former venture capitalist is seeing a surge in people looking to sell their Hermes Birkin bags or Rolex watches to raise cash, as well as a jump in interest from belt-tightening shoppers.

Full coverage: REUTERS

Share to

One Click Away To Global Investments

Trade glod and Sliver on Doo Prime Doo Prime provides mainstream index futures and commodity futures around the world Doo Prime provide over 300 the most popular US and Hong Kong stock cfd products