Asia's shares pared losses on Tuesday as China's economy recorded a stronger-than-expected recovery from punishing pandemic lockdowns last year that led to a major slowdown.
"The possibility of further tightening of Federal Reserve policy resulted in Treasury yields lifting while U.S. equity markets were relatively subdued," ANZ economists wrote on Tuesday.
Two key business surveys for the U.S. published on Monday, including the Empire State Survey, showed business conditions and sentiment remained robust despite the banking sector crisis and tightening monetary policy conditions. European stocks ended just barely lower to snap a five-session streak of gains, with the pan-European STOXX 600 indexThe dollar rose 0.04% against the yen at 134.51 , still some distance from its high this year of 137.91 hit in March.
The European single currency was flat on the day at $1.0929, having gained 0.77% in a month, while the dollar index , which tracks the greenback against a basket of currencies of other major trading partners, was down at 102.06.Gold was slightly high with the spot price at $1997.09 per ounce.Thomson Reuters
Scott Murdoch has been a journalist for more than two decades working for Thomson Reuters and News Corp in Australia. He has specialised in financial journalism for most of his career and covers equity and debt capital markets across Asia and Australian M&A. He is based in Sydney.
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