** Road disorder needs proper implementation of law ** 56 hurt in clashes among AL, BNP and cops in Natore, Khulna, Rajshahi ** Bangladesh serves as a model for rest of world: US Asst Secy Noyes ** People crowd the shop of a Trading Corporation of Bangladesh dealer for essential commodities at subsidised prices in Dhaka's Lalbagh on Saturday amid high prices of daily necessities in the market. Agency photo ** Broiler chicken goes up selling at Tk230 a kg, egg price decreases ** Metro rail: Shewrapara, Uttara South stations now open to public ** 35 bodies found inside well after collapse at Indian temple ** Free journalist Shams, repeal DSA: TIB ** Prothom Alo journalist Shams denied bail, sent to jail ** Philippines ferry fire leaves 31 dead, at least 7 missing ** Workers of a readymade garment factory stage a demonstration and barricade the road at Uttara's Jashim Uddin road in the capital on Wednesday demanding payment of their dues. ** Landslide in Cox's Bazar leaves 3 Rohingyas dead ** Liberation war veteran Nur-E-Alam Siddiqui passes away ** Shakib takes five as Bangladesh beat Ireland by 77 runs to seal T20 series ** UNOs’ role as CEO in Upazila Parishads illegal, unconstitutional: HC ** Former MP Nur E Alam Siddique passes away ** Myanmar junta dissolves Suu Kyi's party, much of opposition ** 13 Bangladeshis reported dead in KSA road crash ** 39 dead in fire at Mexico migrant center near US border ** 20 Hajj pilgrims killed in Saudi Arabia accident ** Jasmine’s death in RAB custody not acceptable ** HC wants autopsy report, list of RAB men who grilled Jasmine ** Dhaka commuters face heavy traffic congestion on first working day of Ramzan ** High-rise building catches fire in capital's Katabon ** At Tk 150 per dozen in Dhaka markets, eggs not an affordable protein source any more **

Asian markets fluctuate ahead of Fed meeting

01 February 2023
Asian markets fluctuate ahead of Fed meeting

Asian markets drifted Tuesday as investors bided their time ahead of a key Federal Reserve policy decision later in the week, while data showing a bounce in Chinese economic activity failed to excite.
After spending most of January chalking up gains owing to easing concerns over inflation and interest rates, traders have this week taken a step back with recession talk still filling the air.
The Fed is due Wednesday to announce another rise in borrowing costs, with expectations for a 25 basis-point lift marking a further slowdown in its monetary tightening campaign.
The post-meeting statement and comments from bank boss Jerome Powell will be pored over for an idea about officials' thinking on future hikes.
Investors are already speculating that slowing inflation could allow for a possible rate cut towards the year's end, even though several policy board members have consistently pushed back against such a move, insisting they will not let up until prices are under control.
Decisions by the Bank of England and European Central Bank are also on the agenda this week.
All three main indexes on Wall Street tumbled, with the Nasdaq off two percent and the less upbeat mood on trading floors saw Monday's apathetic trade continue in Asia.
Hong Kong, Tokyo and Shanghai were flat, while Wellington, Taipei, Manila and Jakarta fell.
Seoul was dragged by a sharp fall in Samsung, which said fourth-quarter operating profits plunged nearly 70 percent, the biggest drop in more than eight years, as electronics and chips sales tanked.
"The January rally has hit a wall and probably won't have a chance of returning until we get beyond Wednesday's Fed press conference and Apple's results after the Thursday close," said OANDA's Edward Moya.
Traders shrugged at data showing China's factory activity expanded in January after four months of contraction as the economy reopened from years of strict zero-Covid curbs.
While the news was welcome, National Bureau of Statistics statistician Zhao Qinghe warned there were still "many manufacturing and services firms that reported insufficient market demand in January, which is still the biggest problem faced by firms".
"The economy's recovery foundation needs to be further solidified."
Still, the International Monetary Fund said it saw the global economy picking up this year, citing strong consumption and investment, and China's emergence from Covid restrictions.

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