Asian shares turned lower on Monday as relief over the benign U.S. jobs report was chilled by caution ahead of key inflation data later this week, while a coronavirus outbreak in Taiwan took a toll on chip manufacturers.
Asian shares firmed on Monday while the dollar wavered after the anxiously awaited May U.S. payrolls report showed the recovery on track but not so hot that it might bring forward a policy tapering from the Federal Reserve.
The United States, Britain and other large, rich nations reached
Finance Ministers from the Group of Seven (G7) rich nations reached a landmark accord on Saturday backing the creation of a global minimum corporate tax rate of at least 15%, an agreement that could then form the basis of a worldwide deal.
Ireland’s finance minister said he remained confident the country’s low-tax economy would continue to attract multinational investment and jobs even as an overhaul of global corporation tax rules moved a major step closer on Saturday.
William Ackman’s Pershing Square Tontine Holdings (PSTH.N) said on Friday it was in talks to buy 10% of Universal Music Group at a 35 billion euro ($42 billion) valuation, in a departure from the playbook of special purpose acquisition companies (SPACs).
Global money market funds attracted heavy investment flows in the week to June 2, as investors were cautious about the likelihood of global central banks tapering their monetary stimulus policies amid a rise in inflation levels.
The dollar hit a multi-week high on Friday while European stocks, oil and gold steadied as markets braced for further signs the U.S. economic recovery could drive inflation and an early withdrawal of Federal Reserve stimulus.
Asian stocks followed Wall Street lower on Friday as signs of a strengthening U.S. recovery boosted bets for higher inflation and an earlier tapering of Federal Reserve stimulus.
Some global banks, funds and other financial services providers say they are stepping up hiring in Hong Kong, in a sign the city’s unique position as a financial gateway to China is outweighing concerns about Beijing’s tightening grip over it.
Asian shares turned lower on Monday as relief over the benign U.S. jobs report was chilled by caution ahead of key inflation data later this week, while a coronavirus outbreak in Taiwan took a toll on chip manufacturers.
Asian shares firmed on Monday while the dollar wavered after the anxiously awaited May U.S. payrolls report showed the recovery on track but not so hot that it might bring forward a policy tapering from the Federal Reserve.
The United States, Britain and other large, rich nations reached
Finance Ministers from the Group of Seven (G7) rich nations reached a landmark accord on Saturday backing the creation of a global minimum corporate tax rate of at least 15%, an agreement that could then form the basis of a worldwide deal.
Ireland’s finance minister said he remained confident the country’s low-tax economy would continue to attract multinational investment and jobs even as an overhaul of global corporation tax rules moved a major step closer on Saturday.
William Ackman’s Pershing Square Tontine Holdings (PSTH.N) said on Friday it was in talks to buy 10% of Universal Music Group at a 35 billion euro ($42 billion) valuation, in a departure from the playbook of special purpose acquisition companies (SPACs).
Global money market funds attracted heavy investment flows in the week to June 2, as investors were cautious about the likelihood of global central banks tapering their monetary stimulus policies amid a rise in inflation levels.
The dollar hit a multi-week high on Friday while European stocks, oil and gold steadied as markets braced for further signs the U.S. economic recovery could drive inflation and an early withdrawal of Federal Reserve stimulus.
Asian stocks followed Wall Street lower on Friday as signs of a strengthening U.S. recovery boosted bets for higher inflation and an earlier tapering of Federal Reserve stimulus.
Some global banks, funds and other financial services providers say they are stepping up hiring in Hong Kong, in a sign the city’s unique position as a financial gateway to China is outweighing concerns about Beijing’s tightening grip over it.
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