AS THE ASIAN MARKET FALLS DOWN EUROPEAN MARKET JUMPS TO FILL THE VOID
The price of the world's most popular cryptocurrency remained close to the psychological value of $ 20,000 after a jump over the weekend. At one point, bitcoin dropped by about 10% to less than $ 18,600, according to the cryptocurrency news website CoinDesk.
From 4:36 p.m. Pacific, it was $ 20,652.64.
France's CAC 40 gained 0.2% to 5,893.20. The German DAX added 0.2% to 13,150.16. Britain's FTSE 100 rose 0.5% to 7,049.87. US markets closed on Monday during the June holidays. The future of the Dow Jones industrial average was up 0.4% while that of Standard & Poor's 500 was up 0.5%.
As expected, China kept its one-year and five-year loan rates unchanged.
Given China's struggle to control outbreaks and its already fragile economy, "inflation in the coming months is still possible as we expect the economic recovery to slow down under the COVID-zero policy. Following this suspension, the government should provide additional funding," Iris said. Pang, Greater China's chief economist at ING, said in a statement.
Japanese benchmark Nikkei 225 dropped 0.7% to finish at 25,771.22. The Australian S&P / ASX 200 fell 0.6% to 6,433.40. South Korea's Kospi fell 2.0% to 2,391.03. Hong Kong's Hang Seng has risen 0.4% to 21,163.91, while the Shanghai Composite has changed slightly, falling below 0.1% to 3,315.43.
Two of the world's three largest economies, China and Japan, do not raise interest rates, in contrast with the U.S. Federal Reserve and central banks in many other countries. Concerns that the global economy may collapse if planners continue to push for higher interest rates and other measures to tighten monetary policy have caused markets to slow down after prices soared due to massive support during the violence.
Last week, Japan's central bank adhered to its nearest interest rate policy despite concerns about a weak yen.
The US dollar traded at 134.76 Japanese yen, down from 135 yen by the end of Friday. The euro cost $ 1.0525, up from $ 1.0489.
Evidence on the fiscal policy of Federal Reserve Board Chairman Jerome H. Powell before the Senate Banking Committee and the House Financial Services panel was scheduled later this week.
Markets target a world with high interest rates, led by the Federal Reserve. Higher levels can lower inflation, but also pose a risk of creating recession by slowing down the economy. And they often hurt stock prices, cryptocurrencies and other investments.
Last week, the Fed raised its key short-term interest rate by three times the normal rate of its largest increase since 1994. He may consider another major increase at his next meeting in July. A week-long report on the US economy also revealed that industrial production was weaker last month than expected.
In power trading, the U.S. benchmark crude lost 42 cents to $ 109.14 a barrel on electronic trading on the New York Mercantile Exchange. It went down from $ 7.26 to $ 107.99 a barrel on Friday. Brent crude, the international standard, dropped from $ 1.35 to $ 111.77 a barrel.