FILE PHOTO: A man looks at an electric board showing the Nikkei stock average outside a securities company in the business district of Tokyo, June 21, 2021. Reuters / Kim Kyung-hoon
8 October 2021
HONG KONG (Reuters) – Asian stocks rose on Friday as Chinese stocks tracked a global recovery after recovering from a week-long holiday.
MSCI’s broadest non-Japanese Asia-Pacific stock index rose 0.5% after rising 2.1% a day earlier. This is the biggest daily increase since August. The Nikkei stock average rose 1.8% in Japan.
China’s blue chips rose 0.56% on the resumption of business after being closed due to the National Foundation Day holidays, while Hong Kong gained 1%.
Elsewhere, Australian shares rose 0.84%, helped by mining stocks amid surging commodity prices.
Over the past three months, Chinese equities have been hit by regulatory changes, the real estate turmoil and the recent power crisis, but some investors are now seeing buying opportunities.
“The debate about China is moving away from the very negative ones. People are asking ‘Is there any way to address regulatory uncertainty? How much of that is reflected in value?” said Harald van der Linde, HSBC’s head of equity strategy for the Asia-Pacific region.
“We’re neutral. We have a low rating, so tell people not to be too negative.”
Investors are focusing on the real estate market as they await action from regulators to prevent transmission from the debt problems of China’s Evergreen Group, which is struggling to raise funds.
US futures rose 0.16% after the US Senate approved a bill later this month to temporarily raise the federal government’s $28.4 trillion debt limit and avoid the risk of a historic default.
Overnight on Wall Street, the Dow Jones Industrial Average rose 0.98%, the S&P 500 0.83% and the Nasdaq Composite Index rose 1.05%.
Investors are also watching US employment data for September, which is scheduled for late Friday. He expects the near-consensus employment figures to guide the Federal Reserve Board at its November meeting to ease its massive stimulus program.
US Treasury yields exceeded these numbers and plans emerged to avoid government debt defaults, reducing volatility at the shortest end of the curve.
In Asian time, the benchmark 10-year Treasury yield rose 1.6 basis points to 1.58887%, the highest since reaching 1.594% in June. [US/]
In the money market, traders are waiting for employment data, so the dollar index, which measures the greenback against the peer basket, has barely turned at 94.206, higher than the 12-month high of 94.504. Not Far, which hit in late September. He was.
CBA analysts say the employment figures could be lower than expected, which could surprise investors. [Federal Reserve] After Taper’s announcement in November. “
“A strong payroll print suggests an imminent … taper and could support the US dollar.”
Oil prices continued to fluctuate. Brent crude rose 0.6% to $82.44 a barrel and US crude rose 0.78% to $78.90 a barrel. [O/R]
(Edited by Ana Nicolasi da Costa)