Week InReview: October 21, 2022

Keeping cautious.

Passengers embark a Shinkansen bullet train in Tokyo, Japan. Photo: Soichiro Koriyama | Bloomberg

.Stocks in Asia look poised for a cautious open after another down day for US equities, with Treasury yields at the highest level since the global financial crisis. Wariness around economic challenges saw the S&P 500 swing from a gain of more than 1% to an almost equivalent loss. Meanwhile, the yen weakened past the 150 per dollar level and hit a fresh 32-year low, boosting speculation that more intervention will be needed to support the Japanese currency. And China's yuan is expected to weaken further after the Communist Party Congress ends this weekend, as the central bank loosens its grip on the currency.

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