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PT Solid Gold Berjangka | Asian Stocks Fall as US Rally Takes a Breather

MARKET UPDATE SOLID GOLD BERJANGKA, SG BERJANGKA , SOLID GROUP, PT SGB , SGB

Solid Gold Berjangka | Asian stock prices fell after Wall Street’s rally stalled at all-time highs.Stocks fell in Japan, Australia, and South Korea. Chinese stocks could fall as the Nasdaq Golden Dragon China Index fell 4.1% on Tuesday. Wal-Mart is looking to raise up to $3.74 billion by selling its stake in Chinese e-commerce company JD.com.

Aside from flows and positioning, the recent rally has also been fueled by the Federal Reserve’s hints that it is close to cutting interest rates, prompting bond traders to take record amounts of risk in anticipation of a bond market rally.

The dollar held steady after three days of declines as the market awaits Wednesday’s revised U.S. jobs report and Chairman Powell’s speech in Jackson Hole on Friday for further clues on the amount and timing of rate cuts. The Bloomberg Dollar Spot Index fell 0.1% to its lowest level since mid-March.

In Asia, policy makers in Indonesia and Thailand may leave rates unchanged on Wednesday given the uncertainty surrounding the political transition, while the Fed awaits an impending monetary easing. Australia’s 10-year bond yield fell 5 basis points in early trading.