The following is an excerpt from Swati Pandey | February 27, 2018 | reuters.com |
SYDNEY (Reuters) - Asian shares faltered on Wednesday and bonds were sold off as risk appetite soured after comments from new Federal Reserve Chair revived fears about faster rate rises in the United States.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent, on track for a second straight day of losses.
It is down more than 4 percent in February after global equity markets were mauled at the start of the month by worries U.S. inflation is picking up.
Japan’s Nikkei eased 0.2 percent while South Korea’s KOSPI index ticked higher. Australian shares slipped 0.4 percent.
Jerome Powell noted in his semi-annual testimony on Tuesday that the U.S. economy was strong, inflation was ticking higher and that the global backdrop was better than in December.
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