Thursday, 20 August 2015

Asian stocks open lower Price

Asian stocks headed south in early trade on Thursday, tracking offshore losses and as investors weighed concerns about the stability of China's economy.
Wall Street fell in choppy trading overnight, as minutes from the latest Federal Reserve meeting showed that conditions for a rate increase are "approaching" but not at hand.
This caused markets to question the possibility of a tightening of U.S. monetary policy next month.
According to a Reuters poll released last Thursday, the Fed could raise interest rates twice this year, with the first hike coming as early as September amid improving economic fundamentals in the US But an abrupt devaluation of the yuan by Chinese authorities last week has had some market watchers paring back their forecasts.

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