Asian stocks up on hopes Fed will adopt slow approach to more hikes
时间:2024-05-04 04:43:16 阅读(143)
Asian shares rose on Friday after Wall Street reversed losses on signals of a measured policy tightening approach from the U.S. Federal Reserve as well as on prospects of a solid economic recovery in China. Global markets have been buffeted by a raft of strong U.S. data over recent weeks, including U.S. jobless claims overnight, that suggested the Fed will need to raise rate further and for longer.
But investors breathed a sigh of relief after Atlanta Federal Reserve President Raphael Bostic said he favoured “slow and steady” quarter-point U.S. rate increases to limit risk to the economy. Markets are also watching out for China’s annual meeting of parliament, which kicks off on Sunday, to set economic targets and elect new top economic officials. Emerging signs of a steady rebound in China’s economy following the relaxation of stringent curbs in December have also helped to revive appetite for riskier assets.
China’s blue-chip CSI300 index was steady in early trade. Hong Kong’s Hang Seng index advanced 0.45%.U.S. stocks rose on Thursday, reversing earlier losses, as Treasury yields pulled back from earlier highs, following the rates comments from Atlanta Fed President Bostic.
The Dow Jones Industrial Average rose around 1%, while the S&P 500 and Nasdaq Composite both gained around 0.75%, even as Tesla Inc fell nearly 6% after the company failed to impress investors with few details on its plan to unveil an affordable electric vehicle.The yield on benchmark 10-year Treasury notes touched 4.0556% compared with its U.S. close of 4.073% on Thursday. The two-year yield, which rises with traders’ expectations of higher Fed fund rates, rose to 4.8913%compared with a U.S. close of 4.904%.
In currencies, the dollar index, which tracks the greenback against a basket of currencies of other major trading partners, was down at 104.86. The index is now up more than 1% for the year, but still down from a September high around $114.The dollar eased 0.15% to 136.55 yen, after climbing to 137.10 overnight, the highest since Dec. 20.
The euro rose 0.08% to $1.0602, after moving off a nearly two-month low of $1.0533 at the start of the week. In the energy market, oil prices remained firm, boosted by signs of a strong economic rebound in top crude importer China and easing worries of aggressive U.S. rate hikes.
U.S. crude dipped 0.36% to $77.88 a barrel. Brent crude touched $84.45 per barrel. Gold was slightly higher. Spot gold was traded at $1839.95 per ounce.
上一篇:Asia’s favorite bonds to lure more investors amid rate cut bets
下一篇:Zomato share price rallies 18%, mcap tops Rs 50,000-cr; Here’s what’s fueling the rally
猜你喜欢
- Bandhan Bank stock jumps 1
- Avaada eyes Rs 15k-cr green energy investment a year
- Rating- Buy; Titan – Actively pursuing new opportunities for growth
- Bajaj Auto shares fall over 5%, on planned production cut due to uncertainty in Nigeria
- Tata Power charts out strong growth trajectory, betting big on renewable energy biz; analysts’ views mixed
- Rainfall, gusty winds bring much-needed respite for Northern India - See Photos
- Tata Motors, Lupin, Titan among 139 NSE stocks to hit 52-week highs; 16 touch 52-week lows
- Bajaj Finance, NTPC, Vedanta, IOC, Tata Elxsi, CMS Info Systems, Adani group stocks in focus
- Tata Power surges to new highs, becomes the sixth Tata Group company to surpass the Rs 1 lakh crore market cap