(Bloomberg) — Stocks extended gains in Asia after China appeared to soften is Covid stance and Federal Reserve Chair Jerome Powell signaled a slowdown in the pace of interest-rate hikes.
ອ່ານຫຼາຍທີ່ສຸດຈາກ Bloomberg
The dollar fell against most of its Group-of-10 counterparts, with the yen speeding to a three-month high. Treasury yields stabilized after large declines following Powell’s comments.
US equity futures fluctuated while contracts for Europe climbed. Benchmarks in Hong Kong and mainland China traded more than 1% higher. An index of Asian stocks advanced further after its best month in 24 years in November. The S&P 500 soared on Wednesday to end the month at the highest level since mid-September, led by a rally led by tech stocks.
Sentiment in Asia got an extra China’s top official in charge of the fight against the coronavirus. Vice Premier Sun Chunlan said the country’s efforts to combat the virus are entering a new phase with the omicron variant weakening and more Chinese getting vaccinated.
Powell’s remarks affirmed expectations the Federal Reserve will raise interest rates 50 basis points this month in a departure from a run of four 75 basis point hikes. Pricing in the swaps market indicates the Fed funds rate will peak below 5% in May. Prior to Powell’s comments, the market anticipated a peak above that level occurring in June.
Equities were buoyed by Powell’s indication that the Fed would balance tackling inflation with supporting the economy, said Krishna Guha, head of central bank strategy for Evercore ISI.
“Most importantly for risk assets, Powell’s remarks embraced the return of some two-sided risk management. That is a big deal for equities and means an outsized move in stocks relative to the rates market is justified,” he said.
Others were more skeptical about the driver behind the market moves and pointed to the possibility month-end portfolio positioning had amplified the price action.
Traders also scoured several economic reports, with key gauges of US activity painting a mixed third-quarter picture. Job openings fell in October — a hopeful sign for the Fed as it seeks to curb demand.
The figures precede Friday’s jobs report, which is currently forecast to show employers added 200,000 workers to payrolls in November. Economists are expecting the unemployment rate to hold at 3.7%, and for average hourly earnings to moderate.
Elsewhere in markets, oil fluctuated after three days of gains on China’s Covid developments and data showing a steep drop in US inventories.
Gold edged higher in Asia — following a 1.1% advance on Wednesday.
ເຫດການສໍາຄັນໃນອາທິດນີ້:
S&P Global PMIs, ວັນພະຫັດ
ການໃຊ້ຈ່າຍໃນການກໍ່ສ້າງຂອງສະຫະລັດ, ລາຍໄດ້ຂອງຜູ້ບໍລິໂພກ, ການຮ້ອງຂໍການຫວ່າງງານໃນເບື້ອງຕົ້ນ, ISM Manufacturing, ວັນພະຫັດ
Haruhiko Kuroda ຂອງ BOJ ກ່າວ, ວັນພະຫັດ
ການຫວ່າງງານຂອງສະຫະລັດ, ເງິນເດືອນທີ່ບໍ່ແມ່ນກະສິກໍາ, ວັນສຸກ
Christine Lagarde ຈາກ ECB ກ່າວໃນວັນສຸກ
ບາງການເຄື່ອນໄຫວຕົ້ນຕໍຢູ່ໃນຕະຫຼາດ:
ຮຸ້ນ
Futures on the S&P 500 rose 0.2% as of 2:01 p.m. Tokyo time. The S&P 500 gained 3.1%
Nasdaq 100 futures rose 0.1%. The Nasdaq 100 climbed 4.6%
ດັດຊະນີ Topix ເພີ່ມຂຶ້ນ 0.2%
ດັດຊະນີ S & P/ASX 200 ຂອງອົດສະຕາລີເພີ່ມຂຶ້ນ 0.9%
ດັດຊະນີ Hang Seng ເພີ່ມຂຶ້ນ 1.5%
ດັດຊະນີ Shanghai Composite ເພີ່ມຂຶ້ນ 0.7%
Euro Stoxx 50 ອະນາຄົດເພີ່ມຂຶ້ນ 1.3%
ສະກຸນເງິນ
ດັດຊະນີ Bloomberg Dollar Spot Index ຫຼຸດລົງ 0.4%
ເງິນເອີໂຣເພີ່ມຂຶ້ນ 0.3% ເປັນ 1.0439 ໂດລາ
ເງິນເຍນຍີ່ປຸ່ນເພີ່ມຂຶ້ນ 1% ເປັນ 136.67 ຕໍ່ໂດລາ
ເງິນຢວນຕ່າງປະເທດຫຼຸດລົງ 0.2% ຢູ່ທີ່ 7.0578 ຕໍ່ໂດລາ
Cryptocurrencies
Bitcoin ເພີ່ມຂຶ້ນ 0.2% ເປັນ $17,143.35
Ether ຫຼຸດລົງ 1% ເປັນ $1,284.19
ພັນທະບັດ
ສິນຄ້າ
ນ້ ຳ ມັນດິບເວດເທັກຊັດຂອງລັດເທັກຊັສຫຼຸດລົງ 0.2% ມາຢູ່ທີ່ 80.41 ໂດລາຕໍ່ບາເຣລ
ທອງຄໍາໄດ້ເພີ່ມຂຶ້ນ 0.6% ເປັນ $ 1,779.91 ຕໍ່ອອນ
ເລື່ອງນີ້ໄດ້ຖືກຜະລິດໂດຍການຊ່ວຍເຫຼືອຂອງ Bloomberg Automation.
–With assistance from Rita Nazareth.
ອ່ານຫຼາຍທີ່ສຸດຈາກ Bloomberg Businessweek
2022 Bloomberg LP
Source: https://finance.yahoo.com/news/stocks-extend-powell-driven-rally-003439142.html