All articles tagged with #asia shares
Asian stock markets rose driven by Wall Street's tech gains, while the yen hit all-time lows against the euro and Swiss franc amid rising interest rates and speculative selling. The US economy is expected to show strong growth in Q3, but investor sentiment is extremely bullish, raising caution of a potential reversal. The yen's decline prompted warnings of intervention, and commodities like silver and oil saw notable gains.
Asian shares edged higher and the dollar fell to a six-week low amid ongoing trade tensions between the US and China, with markets cautious ahead of a potential call between Trump and Xi Jinping and key US economic data, including nonfarm payrolls, due later in the week.
Asian shares and bonds rallied as Federal Reserve Chair Jerome Powell's non-committal stance on future rate hikes fueled optimism that U.S. interest rates have peaked and cuts are on the way. Markets trimmed bets on rate hikes in December and January, with expectations of rate cuts beginning in June 2024. The Bank of England is also expected to conclude its tightening cycle. Investors are awaiting Apple's quarterly revenue report, which is expected to show a 1% decrease. The MSCI's broadest index of Asia-Pacific shares outside Japan surged, while China's blue chips slipped and Hong Kong's Hang Seng index jumped. Wall Street and Treasuries also saw gains, with the benchmark 10-year Treasury yield easing to its lowest level in over two weeks. The retreat in Treasury yields pulled down the U.S. dollar modestly, while the Aussie and kiwi dollars rose. The yen regained ground, and oil prices traded higher.
Asian shares rallied as China announced new measures to support its struggling markets, including halving the stamp duty on stock trading. However, caution remains ahead of upcoming readings on US jobs and inflation, which could impact interest rates. Chinese blue chips jumped 3% in choppy trade, while Japan's Nikkei rose 1.5%. The market also reacted to Federal Reserve Jerome Powell's slightly hawkish outlook, with expectations of no rate hike at the September meeting. US data, including manufacturing surveys and reports on payrolls and inflation, will be closely watched. The European Central Bank's decision on whether to hike rates next month will also depend on EU inflation figures. The dollar remained firm, supported by higher Treasury yields, while gold prices were weighed down. Oil prices received some support from a rise in US diesel prices, but concerns about Chinese demand persisted.
Asian shares rebounded as investors reacted positively to China's commitment to provide more support for its struggling economy. The MSCI Asia-Pacific index outside Japan rose 1.5%, while the Shanghai Composite Index and Hang Seng surged 1.9% and 3% respectively. Hong Kong's property sector saw significant buying, with Country Garden and Longfor experiencing notable gains. The Chinese yuan strengthened against the dollar, and the dollar index dipped slightly. Earnings reports from major companies and central bank meetings are anticipated this week, with expectations of rate hikes from the Federal Reserve and European Central Bank. The euro recovered from a two-week low, and the Japanese yen remained steady. U.S. crude and gold prices increased, while wheat futures reached a five-month high due to concerns over global supplies and food security.