By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    UK political opinion poll tracker
    UK political opinion poll tracker
    May 16, 2025
    Asian markets stagger into weekend as trade rally runs out of legs
    Asian markets stagger into weekend as trade rally runs out of legs
    May 16, 2025
    Baby KJ was born with a rare, deadly disease. Doctors designed a fix – just for him
    Baby KJ was born with a rare, deadly disease. Doctors designed a fix – just for him
    May 16, 2025
    FIFA president Gianni Infantino criticised by European football chiefs over decision to join Donald Trump tour | World News
    FIFA president Gianni Infantino criticised by European football chiefs over decision to join Donald Trump tour | World News
    May 16, 2025
    Arctic Worries: Melting Ice, and a Russia-China Partnership
    Arctic Worries: Melting Ice, and a Russia-China Partnership
    May 16, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    BTC, ETH, XRP, BNB, SOL, ADA, DOGE, PI, HBAR, LINK
    BTC, ETH, XRP, BNB, SOL, ADA, DOGE, PI, HBAR, LINK
    May 16, 2025
    Bitcoin traders’ evolving view of BTC’s role in every portfolio bolsters 0K support
    Bitcoin traders’ evolving view of BTC’s role in every portfolio bolsters $100K support
    May 16, 2025
    Crypto’s lack of ‘frothy use case’ a good sign: WisdomTree exec
    Crypto’s lack of ‘frothy use case’ a good sign: WisdomTree exec
    May 16, 2025
    Tornado Cash dev Roman Storm trial goes ahead with slight trim
    Tornado Cash dev Roman Storm trial goes ahead with slight trim
    May 16, 2025
    Bitcoin to outperform gold in second half of 2025: JP Morgan
    Bitcoin to outperform gold in second half of 2025: JP Morgan
    May 16, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Asian Equities Advance Ahead of Busy Data Week: Markets Wrap
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Business > Asian Equities Advance Ahead of Busy Data Week: Markets Wrap
Asian Equities Advance Ahead of Busy Data Week: Markets Wrap
Business

Asian Equities Advance Ahead of Busy Data Week: Markets Wrap

Published August 12, 2024
Share
7 Min Read
SHARE

(Bloomberg) — Shares in Asia climbed for a second session as markets shifted focus to key US data prints this week for further insight into the health of the world’s biggest economy.

Most Read from Bloomberg

A gauge of stocks for the region rose Monday, following on from Friday’s 1.5% gain as benchmarks in Australia, Taiwan and South Korea edged higher. Shares in Hong Kong fluctuated while those on the mainland were little changed. Japanese markets were closed for a holiday.

A semblance of calm returned after markets were ravaged early last week from fears the Federal Reserve is waiting too long to cut interest rates. The Cboe Volatility Index – Wall Street’s fear gauge – has reversed off its highest since the early days of the Covid-19 pandemic. The yen was slightly weaker against the greenback on Monday.

“The skies are not fully clear yet, but there are several reasons that suggest to us that some relatively calmer seas are ahead of us,” analysts at Nomura Holdings Inc. said in a note, citing a lessening of fears about a US recession and lower chances of a very hawkish Bank of Japan as among the grounds for optimism.

The yen surged last week as traders slashed bearish bets following the BOJ’s rate hike, forcing a negative feedback loop as investors dumped carry trades that ricocheted across markets, before ending last week little changed.

The BOJ and Fed are the biggest variables to drive trading, said Taosha Wang, a portfolio manager at Fil Asia Holdings Pte Ltd. For the US, “I don’t think the market has agreed — either a recession, which we think is excessive, or a soft landing,” she told Bloomberg Television’s Yvonne Man and David Ingles on Monday.

Elsewhere in Asia, traders will be focused on China’s retail sales and industrial production data this week to gauge whether the nation’s economy is finding traction.

China is still battling bond market speculators, with state banks selling debt to buoy yields. Sovereign yields rebounded last week after authorities intensified their fight against bond bulls. The economy needs more stimulus as the latest leading indicators point to a loss of recovery momentum around mid-year, according to Bloomberg Economics.

New Zealand’s central bank will also decide on policy this week, with the economy showing signs of entering its third recession in less than two years. Australian and New Zealand government bonds were little changed on Monday. Treasuries cash trading was shut in Asia due to the holiday in Tokyo.

Economic Downturn

A tumultuous week for global bond markets headed toward calm on Friday as angst over the potential US economic downturn — which spurred a Treasury rally and brief market meltdown — faded.

The US consumer price index on Wednesday is expected to have risen 0.2% from June for both the headline figure and the so-called core gauge that excludes food and energy. The modest moves, however, may not be enough to derail the Fed from a widely anticipated interest-rate cut next month.

At the weekend, Fed Governor Michelle Bowman said she still sees upside risks for inflation and continued strength in the labor market, signaling she may not be ready to support an interest-rate decrease when US central bankers next meet in September. Money markets have fully priced a rate cut in September and about 100 basis points of easing for the year, according to swaps data compiled by Bloomberg.

In commodities, oil edged higher on Monday following a 4.5% gain last week. Some of the top US oil refiners are throttling back operations at their facilities this quarter, adding to concerns that a global glut of crude is forming. Gold was lower.

Some key events this week:

  • RBA Deputy Governor Andrew Hauser speaks, Monday

  • India CPI, industrial production, Monday

  • Australia consumer confidence, Tuesday

  • Japan PPI, Tuesday

  • South Africa unemployment, Tuesday

  • UK jobless claims, unemployment, Tuesday

  • Home Depot earnings, Tuesday

  • US PPI, Tuesday

  • Atlanta Fed President Raphael Bostic speaks, Tuesday

  • Eurozone GDP, industrial production, Wednesday

  • New Zealand rate decision, Wednesday

  • South Korea jobless rate, Wednesday

  • Poland CPI, Wednesday

  • UK CPI, Wednesday

  • US CPI, Wednesday

  • Australia unemployment, Thursday

  • Japan GDP, industrial production, Thursday

  • Philippines rate decision, Thursday

  • China home prices, retail sales, industrial production, Thursday

  • Norway rate decision, Thursday

  • UK industrial production, GDP, Thursday

  • US initial jobless claims, retail sales, industrial production, Thursday

  • St. Louis Fed President Alberto Musalem, Philadelphia Fed President Patrick Harker speak, Thursday

  • Alibaba Group, Walmart earnings, Thursday

  • Hong Kong jobless rate, GDP, Friday

  • Taiwan GDP, Friday

  • US housing starts, University of Michigan consumer sentiment, Friday

  • Chicago Fed President Austan Goolsbee speaks, Friday

Some of the main moves in markets:

Stocks

  • S&P 500 futures were little changed as of 11:05 a.m. Tokyo time

  • Nikkei 225 futures (OSE) rose 0.7%

  • Australia’s S&P/ASX 200 rose 0.5%

  • Hong Kong’s Hang Seng fell 0.3%

  • The Shanghai Composite was little changed

  • Euro Stoxx 50 futures rose 0.4%

Currencies

  • The Bloomberg Dollar Spot Index was little changed

  • The euro was little changed at $1.0920

  • The Japanese yen fell 0.2% to 146.96 per dollar

  • The offshore yuan was little changed at 7.1759 per dollar

  • The Australian dollar was little changed at $0.6584

Cryptocurrencies

  • Bitcoin fell 0.1% to $58,455.91

  • Ether fell 0.6% to $2,541.87

Bonds

Commodities

  • West Texas Intermediate crude rose 0.3% to $77.07 a barrel

  • Spot gold fell 0.3% to $2,424.86 an ounce

This story was produced with the assistance of Bloomberg Automation.

–With assistance from Richard Henderson.

Most Read from Bloomberg Businessweek

©2024 Bloomberg L.P.

#Asian #Equities #Advance #Ahead #Busy #Data #Week #Markets #Wrap

TAGGED:advanceaheadAsiaAsianAustraliaBloombergBloomberg TelevisionbusyDataequitiesindustrial productionJapanese marketsMarketsSouth Koreaweekwrap
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article US arrests of Mexican drug lords could bring fresh charges in home country US arrests of Mexican drug lords could bring fresh charges in home country
Next Article Smart Portfolio Diversification: Top Coins to Buy Before the Bull Market Begins Smart Portfolio Diversification: Top Coins to Buy Before the Bull Market Begins
- Advertisement -

Latest Post

BTC, ETH, XRP, BNB, SOL, ADA, DOGE, PI, HBAR, LINK
BTC, ETH, XRP, BNB, SOL, ADA, DOGE, PI, HBAR, LINK
Cryptocurrency
UK political opinion poll tracker
UK political opinion poll tracker
World News
Bitcoin traders’ evolving view of BTC’s role in every portfolio bolsters 0K support
Bitcoin traders’ evolving view of BTC’s role in every portfolio bolsters $100K support
Cryptocurrency
Crypto’s lack of ‘frothy use case’ a good sign: WisdomTree exec
Crypto’s lack of ‘frothy use case’ a good sign: WisdomTree exec
Cryptocurrency
Asian markets stagger into weekend as trade rally runs out of legs
Asian markets stagger into weekend as trade rally runs out of legs
World News
Tornado Cash dev Roman Storm trial goes ahead with slight trim
Tornado Cash dev Roman Storm trial goes ahead with slight trim
Cryptocurrency
- Advertisement -

You Might Also Like

Grocery price inflation falls for fifth month in a row, retail data suggests
Business

Grocery price inflation falls for fifth month in a row, retail data suggests

August 15, 2023
Top Fox lawyer heads for exit after 7.5 million Dominion settlement
Business

Top Fox lawyer heads for exit after $787.5 million Dominion settlement

August 13, 2023
US inflation falls to 3.3% in May
Business

US inflation falls to 3.3% in May

June 12, 2024
Investors’ comments on market sell-off By Reuters
Business

Investors’ comments on market sell-off By Reuters

August 5, 2024

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?