Asian shares mixed as markets eye US interest rates, prices
ABC News
Asian shares are trading mixed, as investors eye surging energy costs and prospects for interest rate hikes in the U.S. and elsewhere
TOKYO -- Asian shares were trading mixed Monday, as investors eyed surging energy costs and prospects for interest rate hikes in the U.S.
Benchmarks edged up in Japan and Australia, while falling in South Korea and China.
Some analysts worry that if the U.S. Federal Reserve raises interest rates too quickly, or by too much, that could set of a recession. A slowdown in the U.S. would almost certainly hurt the Asian region, which exports and manufacturers for the U.S. economy.
The Fed has said it will continue to raise interest rates to temper rising inflation. The benchmark short-term interest rate was at a record low of near zero during much of the coronavirus pandemic.
