Most Asia Stocks Slide on Fed officials' rate Comments

Most Asian share markets slipped on Monday while the US dollar held firm on Monday after US Federal Reserve Chair Janet Yellen indicated an interest rate increase remains on the cards for this year. MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.7 percent. 

 

Japan's Nikkei, bucked the trend and climbed 2.2 percent as the yen weakened against the resurgent dollar. The case for a rate hike has strengthened in recent months, with a lot of new jobs being created, and economic growth is looking likely to continue at a moderate pace, Yellen said in a speech at the Fed's annual monetary policy conference in Jackson Hole, Wyoming, on Friday. 

 

Get live Nifty Future Tips News Updates visit us : http://www.ripplesadvisory.com/nifty-future-.php or Get Two Days Free Trial just on One Missed Call @98-27-80-80-90

 

While Yellen did not give guidance on what the central bank needs to see before raising rates, she said the Fed already thinks it is close to meeting its goals of maximum employment and stable prices. She described consumer spending as "solid" but noted that business investment was weak and exports hurt by a strong dollar.