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Australian Prime Minister Albanese: Stricter gun control laws will include restrictions on the number of guns an individual can own or license to use.December 15th - According to the latest supply chain news, due to surging demand for Googles Tensor Processing Unit (TPU), Google has expanded its orders for MediaTeks customized next-generation TPU v7e, with order volume increasing several times compared to the original plan. The report states that the first TPU v7e customized by MediaTek for Google will enter risk production by the end of next quarter, and MediaTek has also secured orders for Googles next-generation TPU v8e. MediaTeks large order has received support from TSMCs advanced packaging capacity, and TSMCs CoWoS capacity provided to MediaTek for its Google project will increase more than sevenfold in 2027. MediaTek declined to comment on the news; TSMC stated that it does not comment on details of individual customer business.On December 15th, Naomi Fink, Chief Global Strategist at Amova Asset Management, stated that the Bank of Japans Tankan survey indicates the Japanese economy is in the early to mid-stages of structural reflation, rather than overheating. All Japanese companies expect inflation rates to exceed the Bank of Japans 2% target over the next one, three, and five years. This would support a rate hike by the Bank of Japan this month, bringing expectations back to the target level. The Bank of Japan is likely to support gradual normalization, although it has become more cautious as it approaches a "neutral" policy stance, with the nominal overnight interest rate in Japan generally estimated to be between 1% and 2.5%.The yield on 30-year Japanese government bonds rose 2 basis points to 3.37%.The Hong Kong Stock Exchange has officially launched the “HKEX Technology 100 Index”, and Yuejiang (02432.HK) has been selected.

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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