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KUALA LUMPUR: The FBM KLCI tracked global equities higher on Thursday as US Fed chairman Jerome Powell reaffirmed low interest rates for the long-term.
WASHINGTON: Between deep wounds to the labor market and weak inflation, Federal Reserve Chair Jerome Powell delivered a simple message to investors fixated on rising U.S. bond yields and price risks: watch the data, and don't expect any changes in monetary policy until the economy is clearly improving.
NEW YORK: Shares on Wall Street ended higher on Wednesday, as a selloff in technology-related stocks eased and a rotation into cyclical shares continued after Federal Reserve Chair Jerome Powell's comments calmed inflation worries
FEDERAL Reserve chairman Jerome Powell (pic) signalled that the central bank was nowhere close to pulling back on its support for the pandemic-damaged US economy even as he voiced expectations for a return to more normal, improved activity later this year.
KUALA LUMPUR: The ringgit rebounded in early trade on Wednesday as risk appetite for the local currency improved, thanks to the firmer oil prices.
KUALA LUMPUR: Petronas Chemicals underpinned the FBM KLCI’s rebound early Wednesday after its strong fourth quarter earnings and also firm crude oil prices.
WASHINGTON: Federal Reserve Chair Jerome Powell, pushing back on suggestions that loose monetary policy risked unleashing inflation and financial risks in what may be an emerging economic boom, said the central bank would keep its attention focused on getting Americans back to work as a vaccine-related recovery proceeds.
NEW YORK: Oil prices settled near year-long highs on Tuesday on signs that global coronavirus restrictions were being eased, although concerns about the pace of a U.S. economic recovery and the return of Texas oil production kept gains in check.
NEW YORK: A gauge of global equity markets rebounded in a late-session rally on Tuesday after U.S. Federal Reserve Chair Jerome Powell calmed fears of rising interest rates that have roiled bonds and helped spur assets linked to expectations of a strong recovery.
SINGAPORE: Asian shares rebounded from two-week lows on Tuesday as rising commodity prices boosted market expectations of an improved growth outlook, a day after rising U.S. Treasury yields and inflation prospects hit U.S. tech shares.