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View all search resultsAsian stocks sank Thursday and the dollar advanced after the Federal Reserve indicated it could hike interest rates again this year and keep them elevated longer than feared as it struggles to bring inflation to heel.
Asian shares looked to end the month on a firm note on Monday in a week littered with major economic releases, central bank meetings and earnings updates from mega caps Amazon and Apple, though rising Japanese bond yields posed a risk.
Asian shares bounced and the safe-haven dollar edged lower on Tuesday as investors hoped this week's US inflation data supports an imminent end to rate hikes and cheered the prospect China will deliver economic stimulus to prop up stalling growth.
Stocks in Hong Kong and Shanghai led equity losses Tuesday as a smaller-than-forecast interest rate cut by China's central bank added to worries about the lack of action to kickstart the country's lumbering economic recovery.
Global shares dipped on Wednesday, while the dollar headed for its strongest weekly gain since February to trade at six-week highs, reflecting risk aversion among investors, as there is no breakthrough in sight yet over the US debt ceiling.
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