Asia shares drift lower as investors factor in Fed rate hike HONG KONG (AP) — Asia stock markets drifted lower Friday as investors bet that the Fed is closer to rate hike because of the brightening U.S. corporate and economic outlook. Most U.S. companies have been posting quarterly earnings reports that have beaten analyst expectations. ANALYST INSIGHT: "While expectations for a December Fed rate hike are continuing to build, investment markets seem to be taking it a bit better than was the case in the run up to last December's eventual rate hike," Shane Oliver, head of investment strategy at AMP Capital, said in a report. The official exchange rate for the Chinese currency yuan fell to a six-year low against the dollar of 6.7558 yuan as investors bet that an eventual interest rate hike in the U.S.
Similar Stories to Asia Shares Drift Lower As Investors Factor In Fed Rate Hike on Bing News
By KELVIN CHAN, AP Business Writer, San Antonio Express-News: World
Thu, 10/20/2016 - 11:15pm
BING NEWS:
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