Asian Markets Under Pressure as China Sets 5% Growth Target; Global Indices React

Asian Markets Under Pressure as China Sets 5% Growth Target; Global Indices React

VoM News Desk | March 5, 2024 | 09:56 AM IST | Breaking News | Follow on Google News

Asian Markets Under Pressure as China Sets 5% Growth Target; Global Indices React

Asian Markets Under Pressure as China Sets 5% Growth Target; Global Indices React

Asian equity markets face pressure as investors focus on China, where officials set an ambitious 5% growth target, accompanied by measures to boost confidence. Futures pricing signals selling in Chinese stocks amid concerns over Beijing’s ability to address economic slowdown.

The Golden Dragon index of US-listed Chinese equities fell 4% in New York, reflecting weak sentiment.

Australian shares remain flat, Japanese equities open lower after Nikkei 225 breach 40,000 index points. Focus on Beijing’s annual parliamentary meetings, with a government work report revealing a 7.2% rise in defense spending.

Treasuries steady, 10-year yields at 4.22%. Oil prices unchanged, gold holds above $2,100, and Bitcoin hovers around $67,800. Fed Chair Powell’s congressional testimony expected to emphasize no rush to cut rates.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.