Asian stocks rose Monday and Treasuries held an advance, bolstered by Jerome Powell’s signal that pandemic-era Federal Reserve policy support will be withdrawn cautiously and gradually.
Japan led gains and Chinese technology stocks advanced on bargain hunting in the beaten-down sector. U.S. futures were steady after a record Wall Street close in the wake of Chair Powell’s Jackson Hole speech. Powell said the Fed may start paring bond purchases this year but is in no hurry to raise interest rates and will be guided by data on Covid-19 risks.
Powell didn’t give a specific timeline for scaling back stimulus. Traders are awaiting U.S. jobs data this week to assess whether the economic recovery merits an earlier tapering. Strong figures could extend the first weekly steepening of the Treasury yield curve since July. The dollar held a drop.
The focus in China remains on Beijing’s regulatory broadside. The latest steps include a campaign to crack down on commercial platforms and social media accounts that post finance-related information deemed economically harmful. Another is a proposed credit-rating system to regulate live streaming firms.
Nikkei +0.47% Hang Seng +0.42% CSI -0.31% Shanghai +0.28% Shenzen +0.18%
Eur$ 1.1803 CNH 6.4661 CNY 6.4686 JPY 109.75 GBP 1.3766 CHF 0.9112 RUB 73.56 TRY 8.3529 WTI$ 68.57 -0.25% Gold 1,816.10 -0.10% BTC 48,014 -900 ETH 3,175 -61
S&P +0.08% NAsdaq +0.10% EuroStoxx +0.13% FTSE Close Dax +0.14% SMI
Macro :
- Biden Says U.S. Considering Starting Booster Shots Earlier
Macro :
- Biden Says U.S. Considering Starting Booster Shots Earlier
- Huarong Posts $15.9 Billion Loss as Leverage Hit 1,333 Times
- Rich Friends Who Helped Evergrande Tycoon Count Their Losses
- UAE Opens Up Travel to All Vaccinated People, Boosting Tourism
Keep an eye on :
Keep an eye on :
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