Asian shares hit 2013 lows on Wednesday as uncertainty over when the Federal Reserve would begin trimming its massive stimulus program fanned worries about funds exiting the region, raising caution before key U.S. jobs data later this week.
“Wariness over an exit from the Fed stimulus is driving Asian shares lower on worries that the ample money invested here could flee, although an improving U.S. economy should be seen as positive for many export-reliant Asian economies,” said Hirokazu Yuihama, a senior strategist at Daiwa Securities in Tokyo.
European stock markets will likely ease, with financial spreadbetters predicting London’s FTSE 100 .FTSE, Paris’s CAC-40 .FCHI and Frankfurt’s DAX .GDAXI would open down as much as 0.5 percent. A 0.2 percent drop in U.S. stock futures also pointed to a lower Wall Street open.
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Fed Stimulus Uncertainty Hangs Over Asian Shares
Published 06/05/2013, 03:55 AM
Updated 07/09/2023, 06:31 AM
Fed Stimulus Uncertainty Hangs Over Asian Shares
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