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March 7 - Air raid sirens sounded in northern Israel this morning (March 7) local time, followed by sirens in central and southern regions. According to reports from CCTV, an Israeli military spokesperson stated that the Israeli military detected missiles launched from Iran, and the defense system is intercepting the threat.On March 7, Sha Yan, a deputy to the National Peoples Congress and chairman of the Shenzhen Stock Exchange (SZSE), stated at a group deliberation meeting of the Guangdong delegation that the China Securities Regulatory Commission (CSRC) regards the reform of the ChiNext board as an important measure to promote capital market reform this year. The SZSE is making intensive preparations in accordance with the unified deployment of the CSRC. In the next step, the SZSE will implement the requirements of prioritizing quality and proceeding in an orderly manner, so as to better play its role in serving the high-quality development of the real economy.On March 7th, at a press conference focusing on peoples livelihood, Minister of Human Resources and Social Security Wang Xiaoping stated that the Ministry will continuously improve the salary and social security system, deepen and expand the "one-stop service" for employee recruitment, entrepreneurship, and retirement, vigorously promote the "one-card-for-all" social security card service for residents, and rationally plan the "15-minute" employment and training service circles. Through these concrete measures, the Ministry will strive to provide tangible and accessible services to the people.On March 7th, Meituan announced the launch of OpenClaw remote deployment service in partnership with Lenovos IT service brand, Lenovo Baiying, offering a one-stop remote deployment solution to users nationwide. According to Meituan data, searches related to "OpenClaw" have increased more than threefold month-over-month.U.S. Geological Survey: A 4.1-magnitude earthquake struck west of Bandar Abbas, Iran.

Fears of Stagflation Caused by Tightening Policies Increase As Asian Stocks Fluctuate

Haiden Holmes

Jun 15, 2022 11:11

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Asia-Pacific stocks were mixed this morning, Wednesday. Ahead of a U.S. Federal Reserve meeting that is likely to provide strong tightening decisions, U.S. share markets continued to decline.


Nikkei 225 dropped 0.67 percent at 10:49 PM ET (2:49 AM GMT).


The KOSPI decreased by 1.21 percent.


Australia's ASX 200 index declined 0.38 percent.


Hong Kong's Hang Seng gained 1.14 percent .


Shenzhen Component rose 0.49 percent and Shanghai Composite rose 0.90 percent.


China's industrial output climbed by 0.7% year-over-year in May, according to statistics released on Wednesday, which was marginally higher than market estimates. In April, a decrease of 2.9% was seen, whereas Investing.com had expected a decrease of 0.7%.


Nonetheless, as Beijing saw clusters of COVID-19 breakouts, the city's officials warned on Tuesday that the city was in a "race against time," heightening concerns that the reinstatement of harsh restrictions might harm the city's economy and global supply chain.


The S&P 500 finished down for the fifth consecutive day due to concerns that Fed measures to tighten monetary policy to calm raging inflation might lead to stagflation.


Investors are now betting on aggressive interest rate rises, such as 75 basis points from the Fed, which would be the largest increase since 1004


Steve Englander, director of global G10 FX research at Standard Chartered Bank, wrote in a note, "Inflation is front and center in the headlines and asset markets, and few are voicing worry about over tightening the monetary policy."

After their greatest decline in decades, Treasuries stabilized. Two-year rates recovered after reaching a level not seen since 2007, while 10-year yields retreated from around 3.5 percent.


Barbara Ann Bernard, chief investment officer of Wincrest Capital Ltd., told Bloomberg, "The sooner they are explicit about how rapidly they would increase interest rates and what amount of inflation they consider acceptable, the sooner the markets will settle down."


The Bank of England will announce its policy decision on Thursday, while the Bank of Japan will announce its decision on Friday.


Bitcoin's value on the cryptocurrency market steadied at $22,000.


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