Asian stocks supported by Fed reassurance; BOJ stands pat
SINGAPORE, May 22 (Reuters) – Some Asian stock markets rose
on Wednesday following a positive lead from Wall Street, with
Japan’s Nikkei reaching a 5-1/2 year high and staying firm as
the Bank of Japan stood pat after unleashing massive stimulus
last month.
European stocks are expected to inch lower with markets
taking a breather from a month-long rally before U.S. Federal
Reserve Chairman Ben Bernanke’s testimony to Congress.
Asian stocks cheered by Fed reassurance; BOJ stands pat
SINGAPORE, May 22 (Reuters) – Asian stocks rose on Wednesday
following a positive lead from Wall Street, with Japan’s Nikkei
reaching a fresh 5-1/2 year high and clinging to its gains as
the Bank of Japan stood pat after unleashing massive stimulus
last month.
MSCI’s broadest index of Asia-Pacific shares outside Japan
rose 0.1 percent, reversing some of Tuesday’s
0.4 percent decline. The South Korean market climbed 0.8
percent.
Asian stocks cheered by Fed reassurance, yen awaits BOJ
SYDNEY (Reuters) – Asian stocks rose on Wednesday following a positive lead from Wall Street with Japan’s Nikkei reaching a 5-1/2 year high, while the yen took a defensive stance ahead of the outcome of the Bank of Japan’s (BOJ) policy meeting.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.1 percent, reversing some of Tuesday’s 0.4 percent decline. The South Korean market .KS11 climbed 0.4 percent.
Dollar firms as suspense builds, Asia shares dip
SINGAPORE, May 21 (Reuters) – The U.S. dollar inched up
against major currencies but stayed well off highs on Tuesday as
investors cautiously traded expectations of whether Federal
Reserve Chairman Ben Bernanke will or will not hint at a sooner
than expected reduction in bond-buying stimulus.
The U.S. dollar index, which measures the greenback’s value
against a basket of currencies, edged up 0.1 percent to 83.797
, staying below a 3-year high, as suspense built up over
Preparing for Asia’s golden age
SINGAPORE (Reuters) – There is a new gold rush in the Asia-Pacific: rising incomes and consumer spending by Asia’s fast-growing middle classes that is generating unprecedented opportunities for multinational firms.
If western firms recognize those opportunities in markets for consumer and luxury goods, travel and other services, their strategies will increasingly shift towards building commercial ties with Asia, says Rajiv Biswas, the Asia-Pacific chief economist for IHS Global Insight.
The ASEAN bid: policy risk to the fore
SINGAPORE (Reuters) – Investors are becoming increasingly picky about which bonds and stocks they buy in Southeast Asia’s fast-growing economies as the risk of policy bungling makes them more discerning.
The ebb and flow of cash from money managers and retail investors into Indonesia, the Philippines, Thailand and Malaysia is still on balance an inflow into these markets. The dynamics have however changed, with marked differences between countries.
Policy patience seen wearing thin as yen drops
SINGAPORE (Reuters) – The yen’s fall past 100 per dollar highlights growing concerns about ultra-loose monetary policy around the globe and raises the prospect that policymakers elsewhere may take action to protect their economies from a tide of hot money.
Fears that a global currency war is brewing were fuelled when the Reserve Bank of Australia and Bank of Korea both cut interest rates this week, citing the strength of their currencies as one of the reasons to act.
Analysis: Policy patience seen wearing thin as yen drops
SINGAPORE (Reuters) – The yen’s fall past 100 per dollar highlights growing concerns about ultra-loose monetary policy around the globe and raises the prospect that policymakers elsewhere may take action to protect their economies from a tide of hot money.
Fears that a global currency war is brewing were fuelled when the Reserve Bank of Australia and Bank of Korea both cut interest rates this week, citing the strength of their currencies as one of the reasons to act.
Asian stocks spurred higher by U.S. data
SYDNEY/SINGAPORE (Reuters) – Asian stocks rose on Monday as investors gave the thumbs up to an upbeat U.S. labour force report that sent Wall Street to an all-time closing high last week, while the dollar held its ground against the yen.
MSCI’s broadest index of Asia-Pacific shares outside Japan climbed nearly one percent with Australia’s main share index also about a percent higher. Malaysian shares were the biggest gainers, rising 3 percent after the ruling coalition government won a tight election.
Asian stocks spurred higher by U.S. data; Aussie falters
SYDNEY/SINGAPORE, May 6 (Reuters) – Asian stocks rose on
Monday as investors gave the thumbs up to an upbeat U.S. labour
force report that sent Wall Street to an all-time closing high
last week, while the dollar held its ground against the yen.
MSCI’s broadest index of Asia-Pacific shares outside Japan
climbed nearly one percent with Australia’s main
share index also about a percent higher. Malaysian
shares were the biggest gainers, rising 3 percent after
the ruling coalition government won a tight election.
