HONG KONG: Most Asian investors tentatively stepped back into the markets on Friday after the previous day's Federal Reserve (Fed)-induced sell-off, while the dollar held gains as focus turned to the release of key US jobs data. Fed boss Jerome Powell's pushback against expectations of a softer approach to monetary tightening sent shivers through trading floors and ramped up fears of a global recession. The decision came as other central banks have signaled they will tone down their hawkishness, even in the face of decades- or record-high inflation. With the Fed pointing to a still-strong labor market as a key reason for not shifting from its rate-hike strategy, traders are nervous that a big figure in the report will give officials room to tighten more. However, Tokyo was deep in the red as traders played catch-up with Thursday's losses after returning from a one-day holiday.

Source: Manila Times November 05, 2022 04:21 UTC