By Jamie McGeever
(Reuters) – A appearance at the day ahead in Asian markets.
Japanese inflation and financial policy are under the spotlight in Asian trading on Friday, as a stateofmind of worried anticipation comesdown on world markets ahead of U.S. Fed Chair Jerome Powell’s Jackson Hole speech lateron in the day.
U.S. stocks and bonds fell and the dollar increased on Thursday, a turnaround of this week’s moves that hadactually seen the climb back towards its current all-time high, the 10-year yield post its leastexpensive close in over a year, and the dollar hit a 2024 low.
The S&P 500 on Thursday came within 0.5% of reviewing last month’s record high however ended the day down 0.9%, while the Nasdaq lost 1.7%. Both were their steepest decreases giventhat the Aug. 5 volatility shock.
The MSCI emerging market currency index, ontheotherhand, fell 0.3% on Thursday – not a especially huge relocation on the face of it however, incredibly, its greatest decrease in 4 months. With the dollar, yields and U.S. economiccrisis concerns all increasing, emerging market properties will be under pressure on Friday.
That’s the background to Asia’s trading day, where the spotlight will fall on Japanese inflation figures and Bank of Japan Governor Kazuo Ueda’s financial policy testament to legislators.
It will mark Ueda’s veryfirst public remarks consideringthat the main bank last month raised interest rates by a higher-than-expected 25 basis points. Th