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World Asian markets mostly rise at end of a tough week

07:25  17 september  2021
07:25  17 september  2021 Source:   afp.com

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Asian markets mostly slipped Friday but ended a volatile week in relative calm after China unveiled a series of steps to shore up its economy and reassure investors, but fears of a US interest rate hike kept nerves on edge. Higher-yielding, or riskier, currencies such as the Malaysian ringgit and South Korean won benefited from a more upbeat outlook, which followed a positive lead from Wall Street, while the Australian dollar edged higher. The safe-haven yen, considered a go-to asset in times of turmoil, retreated. Analysts said world markets seemed to be settling after a roller-coaster ride since China

Asian stock markets rose Monday after Wall Street hit a new high despite lingering unease about a possible second wave of coronavirus infections. Global markets have recovered most of this year’s losses despite rising infection numbers in the United States, Brazil and some other countries. On Wall Street, the benchmark S&P 500 index ended last week up 0.7%, though the majority of stocks in the index declined.

Most Asian markets rose Friday as beleaguered investors trudged into the weekend after a painful few days, with confidence dealt a heavy blow by the Delta variant, Chinese regulatory crackdowns, disappointing economic data and brewing geopolitical tensions.

a view of a city: Investors in Tokyo are keeping an eye on the ruling party's leadership election, with hopes the winner will push through a big stimulus package © Charly TRIBALLEAU Investors in Tokyo are keeping an eye on the ruling party's leadership election, with hopes the winner will push through a big stimulus package

The gains came despite another tepid lead from Wall Street, which was pulled between better-than-expected US retails sales and an above-forecast reading on jobless claims.

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Asian markets mostly slipped yesterday but ended a volatile week in relative calm after China unveiled a series of steps to shore up its economy and reassure investors, but fears of a US interest rate hike kept nerves on edge. Higher-yielding, or riskier, currencies such as the Malaysian ringgit and South Korean won Among the measures are a “circuit breaker” that stops shares being traded after rising or falling by a certain amount. Shanghai closed up 0.07% and ended the week higher for the first time since mid-August. But Hong Kong dropped 0.27% and Sydney edged 0.47% lower by the end .

Asian markets mostly rose Friday ahead of a much-anticipated speech by Federal Reserve chief Jerome Powell on plans for tapering monetary policy with some top bank officials calling for a move within months. The positive start to the day came as traders brushed off a drop on Wall Street, though Asian investors were on course to end the week as they started, with gains in most markets . Hong Kong and Shanghai were among the best performers, helped by reports that China's central bank was looking at fresh ways to support businesses, with a cut in the amount of cash that lenders must

Thursday's readings were not enough to provide any insight into when the Federal Reserve might start winding down the ultra-loose monetary policy that has been key to a global economic and equity rally for more than a year.

The main focus for investors is now the bank's latest policy meeting next week, where it could say how much and how long it will dial back on the vast bond-buying programme.

"They'll probably admit they're going to taper, but maybe not taper as much as everybody thought," markets strategist Louis Navellier said.

Eyes are also on the progress of Joe Biden's multi-trillion-dollar infrastructure and social spending plans, which are struggling through Congress. At the same time, lawmakers are still to agree on raising the debt ceiling -- bring the possibility of a catastrophic US default into play.

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TOKYO — Asian shares were mostly higher Tuesday despite a sell-off of shares in technology companies on Wall Street. Japanese markets were closed for a national holiday. Stocks began shedding some of their gains last week after a strong start to February as rising interest rates and the potential for inflation down the road dampened some of Wall Street’s enthusiasm, though the major stock indexes remain near their all-time highs. “Equity investors are finally paying attention to the bond market ,” said Mike Zigmont, director of trading and research at Harvest Volatility Management.

Asian shares rose Monday, cheered by a rally on Wall Street as a grim jobs report signaled to investors that interest rates will likely stay low. The regional gains are coming despite a recent surge in coronavirus infections in Asia . In Japan, worries are growing about tens of thousands of athletes and officials entering the country for the Tokyo Olympics, set to open in July. Many will be from countries where people have been vaccinated, while the rollout has been extremely slow in Japan, with about 3% of the population inoculated so far.

That all comes against the backdrop of the highly transmissible Delta Covid mutation, which has sent infections around the world surging and forced several countries to reimpose lockdowns and other containment measures.

Among them is China, where a new outbreak has spooked traders just weeks after officials had appeared to have brought another under control. The new flare-up has led to concerns that the world's number two economy and key driver of world growth, which was already stuttering, could suffer further.

And while September is considered by analysts to be the weakest month for investing, the past week has been particularly bad for Hong Kong, where tech firms fell on more regulatory oversight and Macau-based casinos were strafed by plans for a government crackdown.

Some of the gambling industry's biggest names -- including Sands and Wynn -- were skittled by Macau government proposals to tighten its grip on the sector, wiping billions of dollars off their values on concerns that a golden era of money-making could be over.

Asian markets slip again as US data fails to temper recovery worries

  Asian markets slip again as US data fails to temper recovery worries Asian markets sank again Wednesday, tracking another sell-off on Wall Street, as figures indicating US consumer inflation slowed last month were unable to overcome concerns about the impact of the Delta variant on the global recovery outlook. Data Tuesday showing US consumer prices rose last month at a slower pace than expected soothed concerns that inflation could force the Fed to begin winding down its market-supporting policies earlier than thought.The reading had taken on particular importance after producer prices -- what firms pay at the factory gate -- hit a record high in August owing to rising demand and tighter supplies.

Asian markets mostly rose Monday after a big miss on US jobs creation last month fuelled optimism that the Federal Reserve will hold fire on tapering its massive financial support programme, while Tokyo extended last week 's rally on hopes for more economic stimulus. New Zealand had tried for years to deport the knife-wielding militant who wounded seven people at a mall in Auckland last week , the government said after it released more details on the attacker following the lifting of a court suppression order.

(RTTNews) - Asian stock markets are trading mostly lower on Thursday, ignoring the broadly positive cues overnight from Wall Street, amid weak eco Asian markets closed mostly lower on Wednesday. The Australian stock market is significantly higher on Thursday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 just below the 7,500 level, following the broadly positive cues overnight from Wall Street, led by strong gains in the energy sector as crude oil prices rose sharply, even as traders remain concerned about the worsening domestic coronavirus situation

Still, Hong Kong squeezed out small gains on Friday, with casinos and tech seeing tentative advances, while Shanghai, Seoul, Wellington, Taipei, Manila and Jakarta were also up.

Tokyo resumed its recent advances as the ruling party started a leadership election to determine Japan's next prime minister, with hopes that the winner will push through a new massive stimulus package.


Video: S&P dips as rising yields offset strong retail data (Reuters)

The general consensus is that the world economy will eventually rebound from the pandemic crisis, and equities will extend gains this year, but some observers are growing cautious.

"Investors just should be prepared for the fact that returns are much more likely to be muted over the next five years than what we've really benefited (from) and enjoyed over the last five," Jim McDonald, of Northern Trust Bank, told Bloomberg Television.

- Key figures around 0230 GMT -

Tokyo - Nikkei 225: UP 0.5 percent at 30,485.11 (break)

Hong Kong - Hang Seng Index: UP 0.5 percent at 24,794.02

Shanghai - Composite: UP 0.3 percent at 3,618.96

Dollar/yen: UP at 109.88 yen from 109.71 yen at 2050 GMT

Euro/dollar: DOWN at $1.1764 from $1.1773

Pound/dollar: DOWN at $1.3789 from $1.3798

Euro/pound: UP at 85.32 pence from 85.29 pence

West Texas Intermediate: DOWN 0.2 at $72.48 per barrel

Brent North Sea crude: UP 0.2 percent at $75.54 per barrel

New York - Dow: DOWN 0.2 percent at 34,751.32 (close)

London - FTSE 100: UP 0.2 percent at 7,027.48 (close)

dan/jah

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