Shares in Asia advanced following Friday’s rally in US stocks and bonds as investors gave further credence to the idea interest rates are near their peak. A region-wide equity gauge extended its winning streak to a fourth day, and is heading for its highest close since September. South Korean shares lead the rally, with the Kospi jumping as much as 4.4%, following Sunday’s news the country would ban short selling until the end of June. Chinese technology and property developers also rose, with China Vanke Co. shares and dollar bonds gained ground before a planned meeting with a regulator. Most Asian currencies strengthened against the dollar as they caught up with the greenback’s decline on Friday. Treasury 10-year yields edged higher after falling nine basis points in the previous session. The policy-sensitive two-year declined 15 basis points at the end of last week, in a sign of shifting rate expectations. US equity futures were little changed in Asia. Investors brought forward their forecasts for Federal Reserve rate cuts next year, and have now fully priced in a reduction by June, according to swaps pricing. The increase in dovish bets was partly driven by a weaker expected US payrolls report and a small increase in unemployment. Forecasts for Fed easing next year is at odds with the so-called higher-for-longer narrative policymakers have outlined in recent months, setting the market, and Fed officials, on a collision course. Bank of Japan Governor Kazuo Ueda said Monday the central bank is making gradual progress toward its inflation target, in a largely dovish policy message. Indonesia’s economy grew less in the third quarter than analysts forecast. On Tuesday, investors will be looking to a potential rate increase from the Reserve Bank of Australia, after a four-meeting pause. China will release trade data, following comments from Li Qiang, the Chinese premier, who pledged to expand imports in Sunday comments. In commodities, oil gained in Asia after Saudi Arabia and Russia reaffirmed they will stick with supply curbs of more than 1 million barrels a day through year-end. Gold edged lower after rallying Friday on optimism the Fed can avoid implementing further monetary tightening.
Nikkei +2,37% Hang Seng +1,82% CSI +1,22% Shanghai +0,78% Shenzen +2.02%
Eur$ 1.0738 CNH 7.2869 CNY 7.2828 JPY 149.57 GBP 1.2383 CHF 0.8698 RUB 92.6949 TRY 28.4285 WTI$ 80.94 +0.53% Gold 1,985 -0.35% BTC 34,873 +0.56% ETH 1,879 +0.51%
S&P +0,11% Nasdaq +0,09% EuroStoxx +0,02% FTSE +0,07% Dax +0,02% SMI -0.09%
Macro :
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Keep an eye on :
Keep an eye on :
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