Asian network markets weakened again on Thursday, December 8, 2022 due to concerns about a US recession that has spiked. However, the S&P 500 made progress on Wednesday after experiencing a continuous bearish session. The Fed's theme of avoiding risk is still solid, namely the plan to raise interest rates next week. Guidance on the expected interest rate hike from Fed Chairman Jerome Powell will also be held this month, December, while discussing other monetary policies.

Impact of 2022 US Recession on Asian Stock Markets

Data shows that Japan's Nikkei225 fell by 0.69%, ChinaA50 also slipped by 0.30%, but Hang Seng actually jumped up to 2.71%.

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Chinese equities are under pressure as investors shift their focus to the Consumer Price Index (CPI) data due out on Friday. As per the projection, the annual CPI figure is expected to drop to 1%. The same event will force the Bank of China (PBOC) to seek policy easing that could spur China's economic growth. Meanwhile, the Japanese index is facing massive pressure despite the well-anticipated Japanese GDP data. The annual data showed that it had contracted by 0.8% against 1.1% from the previous data released, amounting to -1.2%. Meanwhile, the July-September data contracted by 0.2% from the previous data released, 0.3%. These figures are optimistic figures from expectations, but the growth rate is still contractionary which requires more economic stimulus from the Bank of Japan (BoJ), and this is what has triggered concerns about a decline in inflation in the future.

American Recession and Crude Oil Perspective

Meanwhile, from an oil perspective, WTI has again shown a movement towards a pullback from its lowest at $72.00. The price of crude oil is influenced by concerns about a US recession. Bank of America (BoA) CEO Brian Moyhinan told investors it would show "negative growth" in early 2023 with a mild contraction. That is the information we share regarding information on the development of world stock indices. Keep updating information related to investment and other Forex trading through the GIC journal every day. Of course, you can also trade through the GICtrade application with the new ECN account feature, enjoy your trading with the lowest spread price starting from 0 Rupiah! You also have the opportunity to get a chance to win billions of Rupiah without being drawn through the GIC Gebyar Hadiah.

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