TOKYO (Reuters) - Asian shares rose on Wednesday, following gains in European and U.S. markets where bargain hunters bought beaten down stocks, but markets remained vulnerable to the euro zone's debt woes as Spanish yields hit record highs on worries over banks.
Asian shares rose on Wednesday, following gains in European and U.S. markets where bargain hunters bought beaten down stocks, but markets remained vulnerable to the euro zone's debt woes as Spanish yields ...
MUMBAI: Key stock indices in India rose on Wednesday on expectations the Reserve Bank of India will reduce interest rates after inflation eased to a four-month low in April and industrial production growth slowed further in March. Sentiment in the stock markets was also boosted as a global bond market sell-off receded and select shares that were included in the MSCI India Index gained.
LONDON: World shares weathered soft readings on Chinese and Japanese manufacturing which served to recharge expectations of more policy stimulus there, though lacklustre euro zone data soured the mood on Thursday. European stock markets initially opened higher, spurred by multi-year highs in Asia, but sluggish euro zone and German purchasing manager data and conflicting numbers from France sent indexes into the red. Stock index futures suggested U.S. markets would maintain the negative trend.
July 4th may be a US national holiday, which means the S&P 500 won't hit a record high on good news and a recorder high on bad, but judging by global trading volumes - already abysmal heading into today - one may as well give the entire world a day off. However, for now, global equities have come off the impressive, and curiously schizophrenic US-data inspired gains of yesterday which sent the DJIA over 17,000 yet which has resulted in an almost unchanged 10Y Treasury print since before the NFP release. Once again bonds and stocks agree to disagree.
TOKYO: Asian stock markets rose to their highest level in more than four months on Thursday, helped by optimism in the global banking sector and hopes of stabilisation in the Chinese economy after solid trade data. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent while Japan's Nikkei gained 2.0 percent. Overnight, U.S. S&P 500 Index gained 1 percent to a four-month high after JPMorgan Chase's first quarter earnings fell less than expected, helping to lift the S&P 500 financial sector 2.2 percent.
TOKYO: Asian share prices won some reprieve on Wednesday after a sharp fall in the previous session, but gains were modest as soft economic data from the United States and Europe cast a shadow on the global economic outlook. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 per cent in the early trade, a day after it fell 1.6 per cent, its biggest fall in almost two months. Japan's Nikkei was flat after Tuesday's 2.4 per cent fall.
Wall Street pared back early gains on Wednesday as a rise in energy shares from recovering oil prices were capped by a fall in biotech stocks. Biotechs came under pressure after the US government proposed a test program aimed at lowering Medicare drug costs. Brent crude extended gains above $40 a barrel, after US crude stockpiles rose in line with estimates last week and gasoline inventories fell more than expected. Crude oil has rallied in recent weeks, but industry watchers remained skeptical of a sustained recovery in prices as the markets are dealing with a massive oversupply.