Festivity on hold for stocks as rate hikes beckon

Published by
Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – Asia’s stockmarkets made a wobbly start to the final full trading week of 2022, with the prospect of interest rates rising further next year taking the edge off festive cheer. The Federal Reserve and European Central Bank hiked rates and promised more last week, and speculation is even building that the Bank of Japan, which meets on Monday and Tuesday, is eying a shift in its ultra-dovish stance in future. Japan’s Nikkei fell 1% in early trade and the yen, which rose about 0.5% to 136.00 per dollar, was the biggest mover in quiet currency trade. MSCI’s br…

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