Asian Stocks Steady After Nasdaq Surge; Bonds Rise: Markets Wrap

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Asian Stocks Steady After Nasdaq Surge; Bonds Rise: Markets Wrap

Bloomberg2021-03-10

(Bloomberg) -- Asian stocks were steady Wednesday as traders weighed the biggest jump in the Nasdaq 100 since November as well as calmer Chinese markets. The dollar pared some losses and Treasury ...

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The dollar pared some losses and Treasury ...</p>\n\n<a href=\"https://finance.yahoo.com/news/most-asia-stocks-nasdaq-surge-015346718.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://finance.yahoo.com/news/most-asia-stocks-nasdaq-surge-015346718.html","article_id":"1135078234","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1135078234","pubTimestamp":1615347134,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"(Bloomberg) -- Asian stocks were steady Wednesday as traders weighed the biggest jump in the Nasdaq ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"纳斯达克股市大涨后亚洲股市企稳；债券上涨：市场结束","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"(Bloomberg) -- Asian stocks were steady Wednesday as traders weighed the biggest jump in the Nasdaq 100 since November as well as calmer Chinese markets. The dollar pared some losses and Treasury yields held a decline.The Nasdaq 100 advanced 4% on a revival of higher-valuation stocks such as Tesla Inc., which jumped 20%. The move snapped a rotation into value shares based on optimism about an economic reopening aided by fresh stimulus and vaccines. S&P 500 contracts and futures on the tech-heavy gauge dipped.In Asia, Chinese shares rallied from a slump on Tuesday that evaded state efforts to slow the pace of losses. Hong Kong advanced and Japan fluctuated. Treasury yields steadied below their recent peaks as the first in a string of auctions went off without disrupting markets. Bitcoin traded around $54,000.The pullback in Treasury yields emboldened investors to buy the recent dip in growth stocks, which have been weighed down by concerns about valuations. The prospect of faster inflation as economies recover from the pandemic has pushed up longer-term borrowing costs this year. In China, a report showing surging producer prices highlighted the risk of the nation exporting inflation as factories regain pricing power.The rising trend in bond yields is consistent with economic growth expectations, said Lauren Goodwin, portfolio strategist at New York Life Investments. That backdrop still favors cyclicals over defensive assets and “supports equities over bonds, and a weaker U.S. dollar,” she said.The upcoming sales of 10- and 30-year bonds will test appetite for the safest debt after last month’s poorly bid seven-year auction helped drive yields higher, sending tremors across risk assets globally.Australian bond yields extended a move lower after the central bank governor suggested markets may be getting ahead of themselves by pricing in an interest-rate increase within the next couple of years.Here are some key events to watch:EIA crude oil inventory report is due WednesdayThe U.S. February consumer price index will offer the latest look at price pressures Wednesday.The U.S. government auctions 3-, 10- and 30-year Treasuries this week.The European Central Bank holds its monetary policy meeting and President Christine Lagarde is set to do a briefing Thursday.StocksS&P 500 futures were down 0.2% as of 12:06 p.m. in Tokyo. The S&P 500 index advanced 1.4%. Nasdaq 100 futures were down 0.3%.Japan’s Topix index was little changed.Australia’s S&P/ASX 200 index was 0.2% lower.South Korea’s Kospi index added 0.3%.Hong Kong’s Hang Seng index rose 0.7%.China’s CSI 300 index increased 1.4%.CurrenciesThe yen was at 108.81 per dollar, down 0.3%.The offshore yuan traded at 6.5180 per dollar.The Bloomberg Dollar Spot Index added 0.2%.The euro was down 0.2% at $1.1880.BondsThe yield on 10-year Treasuries rose one basis point to 1.54%.Australia’s 10-year bond yield fell six basis points to 1.72%.CommoditiesWest Texas Intermediate crude fell 0.3% to $63.81 a barrel.Gold shed 0.2% to reach $1,712.82 an ounce.","kind":null,"is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":47,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}