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Australian, NZ Dollars Drop Amid Rising Risk Aversion
CANBERA (dpa-AFX) - The Australian and NZ dollars fell against their major counterparts in the Asian session on Thursday, as Asian markets followed Wall Street lower, after the Fed warned of a slowdown in the pace of the economic recovery in the wake of the coronavirus pandemic.
The Fed kept its monetary policy unchanged, but highlighted the recent worsening of the economic data amid the ongoing crisis.
The central bank cautioned that the pace of the recovery in economic activity and employment has moderated in recent months.
The economy was still a long way from a complete recovery, which depends prominently on the course of the virus.
Asian Shares Follow Wall Street Lower
CANBERA (dpa-AFX) - Asian stocks tumbled on Thursday as investors reacted to a worsening Covid-19 health crisis and a downbeat economic outlook from the Federal Reserve.
Amid rising virus cases and vaccine delays, Federal Reserve officials flagged a worrying slowdown in the pace of the economic recovery overnight.
China s Shanghai Composite index dropped 68.17 points, or 1.91 percent, to 3,505.18 amid lingering worries over policy tightening. Hong Kong s Hang Seng index ended down 2.55 percent at 28,550.77.
Japanese shares ended sharply lower as tech stocks succumbed to heavy selling pressure after recent strong gains. The Nikkei average fell 437.79 points, or 1.53 percent, to 28,197.42, while the broader Topix index closed 1.14 percent lower at 1,838.85.
Leonard Hong: The housing shortage is even worse than you d thought
27 Jan, 2021 04:40 AM
5 minutes to read
New Zealand now has the least affordable housing market for the poorest families, according to an OECD report. Photo / File
New Zealand now has the least affordable housing market for the poorest families, according to an OECD report. Photo / File
NZ Herald
OPINION: New Zealand s housing is a national catastrophe. House prices have gone up by 37 per cent nationally since 2015, according to ANZ. Shortages drive rising prices. And the problem will only worsen as an ageing population means even more housing will be needed.
Millions of vaping products imported into New Zealand will be required to display warning labels in te reo Maori if new Government proposals are implemented