Asian shares slip, dollar reaches multi-week highs

By MG News | February 27, 2023 at 09:43 AM GMT+05:00

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February 27, 2023 (MLN): Asian shares slipped on Monday as markets were forced to price in ever-loftier peaks for U.S. and European interest rates, slugging bonds globally and pushing the dollar to multi-week highs, as Reuters reported.

Investors are braced for more challenging U.S. data including the closely-watched ISM measures of manufacturing and services, the latter being especially important following January's unexpected spike in activity, it noted.

There are also at least six Federal Reserve policymakers on the speaking diary this week to offer a running commentary on the likelihood of further rate hikes, it added.

China has manufacturing surveys and the National People's Congress kicks off at the weekend and will see new economic policy targets and policies, as well as a reshuffling of government officials.

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KSE30	40,431.09 26.26M	-0.54% -220.37
KMI30	191,294.91 30.78M	-0.41% -789.00
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Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,240.00	109,545.00 108,625.00	25.00 0.02%
BRENT CRUDE	69.95	70.09 69.85	-0.20 -0.29%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	2.05 2.15%
ROTTERDAM COAL MONTHLY	106.65	106.65 106.25	0.50 0.47%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	68.11	68.27 67.78	-0.22 -0.32%
SUGAR #11 WORLD	16.15	16.37 16.10	-0.13 -0.80%