Global market-Japan shares rise in Asian stocks as US stimulus fuels rally

* Asian Stock Market:

* US stimulus increases risk appetite

* Japan’s stock is at a peak of 29 years

* Oil futures recover hope on high demand

TOKYO / NEW YORK, 29 December (Reuters) Asian shares rose on Tuesday, with Japanese stocks gaining 30-year, as Brexit trade deal boosts investor risk and is expected to expand long-awaited US pandemic relief package Will happen. .

MSCI’s largest index of Asia-Pacific shares outside Japan rose 0.45%. Australian stock ended up by 0.53%. After August 1990, Japan’s Nikkei closed up 2.4%. China shares were up 0.32%.

Futures for the S&P 500 added 0.4%.

Euro Stocks 50 futures rose 0.42%, German DAX futures 0.53%, and FTSE futures 1.12%, pointing to a bright start to European trade.

The dollar lost against major currencies and treasury yields after US President Donald Trump approved a $ 2.3 trillion stimulus package to counter the effects of the coronovirus epidemic.

While the package still has to pass to the Senate, Trump’s approval on Sunday sent shares on Wall Street to record highs on Monday, raising optimism about the economic recovery.

“With Brexit … and the US stimulus deal now in the rear-view mirror, there is a sense of relief that we have avoided the worst situation related,” said Stephen Innes, AISI’s chief global market strategist, A. Broker.

Britain signed a narrow Brexit trade deal with the European Union on Thursday, just seven days before exiting one of the world’s largest trade blocs.

Strong demand for risky assets kept the US dollar, often seen as a “safe-haven” asset, on the back foot. It was down 0.02% against a basket of major currencies.

The dollar’s shortening has been a popular trade recently and calculations by Reuters based on data released by the Commodity Futures Trading Commission on Monday suggested the trend may bear. The dollar’s short position in the week ended December 21 to $ 26.6 billion, the highest in three months.

The dollar index fell to 90.137 against a basket of six major currencies, not the lowest in more than two years.

Sterling rose to $ 1.3483 after confirmation last week of the UK trade deal, which was widely expected.

A sluggish dollar rose in gold prices, rising 0.33% to $ 1,877.56 an ounce.

Jack Ma’s Alibaba Group Holding Ltd. held six straight sessions of decline, with a decline of 6.4%. Analysts said the benefits given by Chinese regulators to shake up Ant Group, Alibaba’s mobile payments and consumer finance arm could be reduced.

Analysts cited concerns that other large Chinese tech companies may face more government scrutiny, which could curb investment in the sector.

Oil prices recovered after falling overnight due to concerns about increased supply and lower demand amid fresh COVID-19 travel restrictions around the world.

Brent crude rose 0.45% to $ 51.09 a barrel. US crude rose 0.48% to US $ 47.85 a barrel.

More US fiscal stimulus has reduced concerns about the threat posed by new variants of coronaviruses identified in Britain and South Africa.

The yield on the benchmark 10-year Treasury notes reached 0.9381%, but was eased to 0.1270% for two years.

Reporting by Stanley White and Koh Gui King; Editing by Sam Holmes, Stephen Coats and Jane Wardell


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