Asian Stocks in Partial Rebound
World Economy

Asian Stocks in Partial Rebound

Equity markets in Asia-Pacific held firm after dipping to a one-month low, with stocks in Japan, Hong Kong, and mainland China advancing on the overnight rebound in the value of US Treasuries.
Even though Beijing posted disappointing foreign trade data, the increased UK confidence propelled the regional stock indices up with their valuation over fundamentals, increasing market volatility as a result. Investors are also awaiting US jobs data due Friday, Sputnik reported.
MSCI Apex 50 Index was flat during Friday’s trading, with investors wary of China’s weak foreign trade stance. In Japan, the Nikkei Index added 0.45%, rebounding from its one-month low which it hit on Thursday, mainly due to stabilization in the global bond market.
Investors picked up the thread of buying governmental debt worldwide after yields hit dangerously high levels, with German bunds yielding 0.8%, French bonds yielding 1% and yields on Italian and Spanish bonds reaching 2% on Thursday. The rout reversed in the US Thursday night, with Treasuries gaining overnight after yields grew making the the bonds too appealing to remain in low demand, and investors rushed back into the fixed-income market.
The yield on the US Treasuries snapped its eight-session winning streak, retreating to the safer 2.155% compared to Thursday’s peak of 2.321%.
Mainland China’s stock indices were up 2.28% in Shanghai. The gains could be bigger, but the frustrating news of China’s exports having fallen an annualized 6.4% in April, compared to the anticipated buildup of 2.4%, undermined Chinese shares.
Hong Kong’s Hang Seng Index rose 1.05%, while Korea’s Kospi added 0.1%. Australia’s S&P/ASX 200 Index slipped 0.2% on the Chinese pessimism, as weaker Chinese exports suggest the mainland is set to import less Aussie raw materials as well. In April, mainland China’s imports slumped by 17.3%, indicating the nation its losing its role of the regional growth driver.


Short URL : http://goo.gl/gP0EAB

You can also read ...

Qatar Capable of Overcoming Siege Challenges
Qatar affirmed its ability to overcome the challenges of the...
Apple Inc won guarantees from the Trump administration that its lucrative iPhones would ship from China  without being subject to tariffs.
Big companies in the United States from Amazon.com Inc to...
Japan Inflation Inches Higher
Japan’s inflation picked up slightly in June, largely because...
Today, income inequality in the US is greatest among Asians. Asians displaced blacks as the most economically divided racial or ethnic group in the US.
The rich are getting richer and the poor are getting poorer in...
S&P Affirms Russia’s Stable Outlook
Standard & Poor’s said in a statement on Friday that it...
State-Actors Likely Behind Singapore Cyberattack
State-actors were likely behind Singapore’s biggest ever...
Argentina Making Fiscal Progress
Argentina is “unequivocally” making progress on its goals to...
Growing Inflation Looms Large Over India’s Economy
From rising crude oil prices to a poor start to rice-planting...