Investors are optimistic about stronger
Powell's comments are “being overshadowed by mixed economic data" as the virus impact “becomes more obvious,” said
On Tuesday, a
The Shanghai Composite Index rose 0.9% to 3,579.46 and the
Forecasters warn anti-virus control imposed in the latest quarter probably will drag full-year growth to below that level. IHS Market reported its measure of Australian manufacturing contracted in August for the first time since
India’s Sensex opened up 0.5% at 57,830.52 after economic growth surged to 20.1% over the depressed level of a year earlier in the latest quarter. It was India’s strongest growth on record, but output shrank by 12% compared with the previous quarter as coronavirus infections surged.
Also Wednesday, a survey found Chinese manufacturing decelerated in August as demand weakened and factories struggled with supply disruptions. The monthly purchasing managers' index by business magazine Caixin fell to 49.2 from July 50.1 on a 100-point scale on which numbers below 50 show activity contracting.
Investors are trying to figure out which industries gain and which will lose as they grapple with supply disruptions, the spread of the more contagious variant of the virus and signs of possible consumer caution.
On Friday, the
In energy markets, benchmark
The dollar rose to