Stocks slide amid slower growth in China and BOJ forecasts - TopForex.Trade

Stocks slide amid slower growth in China and BOJ forecasts

Stocks in Asia and U.S. stock futures tumbled amid a slow rise in China, the dollar was largely flat and Bitcoin held above $21000.

Stocks slide amid slower growth in China and BOJ forecasts

Stocks in Asia and futures for US stocks fell as traders and investors reacted to the slow growth of the Chinese economy.

The Asian benchmark stock index fell again, with the Hang Seng index dropping more than 1%. Contracts for European shares also went down. The indicator of world stocks remains the same.

Shares in Hong Kong and China were mostly in the red after China’s announcement of slow economic growth last year. Data for the fourth quarter and December could be better, which will show that China is ready for a recovery.

Japanese stocks edged up slightly, but the yen slipped against the dollar as traders speculated about the likelihood of a policy change by the BOJ. The national 10-year yield rose above the central bank’s high.

In general, the dollar remained virtually unchanged, while the yield on treasury bonds grew across the tenors.

Investor Ryan Cohen bought a stake in Alibaba Group Holding Ltd. and insists that the Chinese e-commerce company increase its own share repurchase, which will raise the interest of foreign investors.

Several FRS officials will be speaking this week to provide more information on the future direction of their policies. The annual meeting of the World Economic Forum starts in Davos, where representatives of the ECB and the IMF will report.


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Some analysts believe that central banks will continue to raise rates this year, which will challenge traders who expect policy easing.

Financial reports from Goldman Sachs and Morgan Stanley will give a clearer picture of the state of the global economy on Tuesday.

In addition, Bitcoin was trading above $21000. Elsewhere, oil prices fell as investors waited for forecasts from OPEC that could give a glimpse of supply and demand in 2023.


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