(RTTNews) – China’s inventory market ended down in 3 consecutive sessions, wasting more than 90 issues or 2. 4% along the way. The Shanghai Composite Index is now just below the plateau of 3520 points and is another soft red for Thursday’s trade.
Global forecasts for Asian markets recommend consolidation in reaction to the FOMC’s financial policy announcement. European markets were combined and U. S. stock markets merged. U. S. They fell and Asian markets are stuck to the latest example.
The SCI ended with a sharp drop in losses in resource stocks, while finance and households showed support.
During the day, the index lost 38. 23 issues or 1. 07% to 3,518. 33 after trading between 3,513. 56 and 3,561. 09. The Shenzhen Composite Index fell 55. 49 issues or 2. 32% to 2,332. 41.
Wall Street’s lead is negative as stocks opened flat together on Wednesday, all headed firmly toward closing.
The Dow lost 265. 66 issues or 0. 77% to end at 34,033. 67, while the NASDAQ lost 33. 17 issues or 0. 24% to end at 14,039. 68 and the S
Wall Street’s weakness came as the Fed’s most recent economic projections now point to an interest rate hike in 2023.
The most recent projections through Fed officials recommend that interest rates be raised to 0. 6% in 2023 to previous projections that rates would remain close to zero. Seven officials expect rates to increase starting in 2022.
Crude oil futures failed to maintain their initial gains and stabilized more or less flat on Wednesday, even though a larger-than-expected drop in crude inventories was known last week. $72. 15 a barrel after reaching a previous high of $72. 99.
Closer to home, China will see may home value figures later today; in April, the space value index rose 4. 8% in one year.