A downward revision to consumer spending meant the US economy grew more slowly than expected in the first quarter, data showed on Thursday
The latest halt in the global risk rally has come on the back of data pointing to lingering inflationary pressures across major economies
Japan's Nikkei, on the other hand, slipped 0.3 per cent, reversing some of the 0.7 per cent advance a day ago
Data on Thursday showed US jobless claims dropped while S&P Global's Flash PMI survey showed business activity expanded
MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.57 per cent. Australia's S&P/ASX 200 index was one of the biggest decliners
New Zealand's central bank offered a sobering assessment of its inflation problems, warning that rates would have to be higher
Japan's Nikkei was a rare bright spot, rising 0.2%, adding to the previous day's 0.73% rally
Traders are pricing in 47 basis points of easing this year from the Fed, with a rate cut in November fully priced in
Gold marched back toward record levels, and crude oil added to gains after rebounding strongly
China stocks also gained, with blue-chip shares 0.14 per cent higher, while Hong Kong's Hang Seng Index rose 1.4 per cent, having touched an eight month high in early trading
Much of Asia is returning from a holiday that had closed markets on Wednesday, though Chinese bond, currency and stock markets remain shut through the rest of the week
Oil prices ticked down on expectations that higher-for-longer US interest rates would dampen demand, while news of a potential Gaza ceasefire eased fears of supply constraints
Nasdaq futures advanced more than 1%, while S&P 500 futures rose 0.85%
The MSCI Asia Pacific Index fell as much as 0.4% Wednesday before paring losses, with consumer discretionary and industrials among the biggest drags
A gauge of US-listed Chinese companies slipped Thursday amid declines for Baidu Inc, Yum China Holdings Inc. and Alibaba Group Holding Ltd
The CSI300 Index ended down 1.3%, its lowest closing level since February 2019. The Shanghai Composite Index declined 1.4% to end at its lowest since April, 2022
That's the key takeaway from an informal Bloomberg News survey of 10 fund managers and strategists, seven of whom said the NSE Nifty 50 Index will rise in 2024
CLOSING BELL ON AUGUST 21, 2023: The NSE Nifty 50 ended with a gain of 84 points at 19,394. Jio Financial Services settled at the 5 per cent lower circuit on debut on Monday.
After four straight 75-basis point hikes earlier in 2022, the US Federal Reserve raised its overnight borrowing rate by another 50 basis points in December
Japan is set to tweak its 2% inflation targeting policy, possibly giving the central bank more wiggle room