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Analytics
18 March 2021
Fed-induced optimism wanes, dollar regains ground
Asian stocks were higher on Thursday after the Fed committed to maintaining the accommodative monetary policy. The Federal Reserve pushed back against the market’s pricing of premature rate hikes, as the central bank’s latest projections showed that the policymakers don’t anticipate an increase in interest rates at least until 2023. Against this backdrop, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.87%, while stocks in China rose 0.74%. Australia’s market bucked the trend and fell 0.73%.
16 March 2021
Dollar demand persists despite rising stocks
Following gains on Wall-Street, Asian markets rallied on Tuesday, as investors looked to key central bank meetings this week. While the Federal Reserve meeting concludes on Wednesday, the Bank of England meets on Thursday, and the Bank of Japan wraps up a two-day gathering on Friday. Australia’s S&P/ASX 200 jumped 0.80% after the RBA’s March meeting minutes reinforced a “lower for longer” view. Japan’s Nikkei 225 rose 0.52% and Hong Kong’s Hang Seng index gained 0.67%. The Shanghai Composite gained 0.78%.
12 March 2021
Dollar advances, stocks turn sour amid rising bond yields
Asian stocks were mostly positive on Friday as investors continued to celebrate stimulus measures and lower bond yields. Biden signed a $1.9-trillion coronavirus relief package into law and also pledged aggressive action to speed vaccinations and move the country closer to normality by July 4. Also on the positive side, the European Central Bank said on Thursday it was ready to accelerate money-printing to keep a lid on borrowing costs. Against this backdrop, the Nikkei 225 rose 1.73% while South Korea’s Kospi climbed 1.35% and the Shanghai Composite advanced 0.47%. Meanwhile, Hong Kong’s Hang Seng bucked the trend, to close 2.20% lower.
11 March 2021
All eyes on ECB, dollar eases
Asian stocks climbed on Thursday amid easing worries that price pressures could push interest rates higher. Tokyo’s Nikkei 225 index gained 0.71% and the Hang Seng in Hong Kong added 1.18%. South Korea’s Kospi surged 2.18%, while the Shanghai Composite index jumped 2.08% as Chinese leaders prepared to wrap up the annual session of the largely ceremonial legislature.
09 March 2021
Dollar demand eases as risk sentiment improves
Asian stocks recovered from earlier losses on Tuesday but finished on a mixed note, as investor optimism was tempered by worries about inflation and rising bond yields. Besides, market players remain conflicted over whether the stimulus will help global growth rebound faster from the downturn. There are also concerns that the U. S. Senate's passage of a $1.9-trillion stimulus bill package will lead to higher bond yields by fueling expectations of an economic recovery and inflation. As such, Japan’s benchmark Nikkei 225 added 0.99%, South Korea’s Kospi slipped 0.67%, Australia’s S&P/ASX 200 added 0.47%, Hong Kong’s Hang Seng gained 0.81%, while the Shanghai Composite slipped 1.82%.
05 March 2021
Equities finish the week on a downbeat note, oil rallies
Asian shares extended losses Friday as U.S. bond yields continue to surge, adding to investor worries about inflation. Powell disappointed investors who had hoped him to say more about how the Fed would react to cap a rally in bond yields. The benchmark 10-year Treasury yield spiked to 1.533% after Powell’s speech.
03 March 2021
Dollar mixed as stock markets in a sea of green
Asian markets rallied on Wednesday, as the yield on the 10-year Treasury inched down to 1.40% early in the day. Australia’s S&P/ASX 200 gained 0.82% following the report that the country’s economy grew 3.1% in the fourth quarter versus +2.5% expected. However, the GDP was 1.1% lower compared with the same quarter in the previous year. In Hong Kong, the Hang Seng rallied 2.54%, Tokyo’s Nikkei 225 index added 0.51%, while the Shanghai Composite index advanced nearly 2.0%.
01 March 2021
Stimulus-related news push global equities higher
Asian equities gained on Monday, as investors were cheering the news that the House passed President Joe Biden’s $1.9 trillion coronavirus relief package, sending it to the Senate. The reports prompting banks and investors to lift their forecasts for economic growth, especially as virus cases continue to decline. Besides, yields on U.S. 10-year notes retreated from last week’s peaks around 1.60%, adding to market optimism at the beginning of spring.
01 March 2021
Macroeconomic Events for March
Dear clients,
Here is the list of the most important economic events for March.
26 February 2021
Investors digest a sudden spike in bond yields
Asian shares slipped amid a broad sell-off due to rising bond yields. The 10-year U.S. Treasury note moved above 1.5% for the first time in over a year, reflecting expectations that inflation is headed higher, which in turn may prompt central banks to raise interest rates. MSCI’s broadest index of Asia-Pacific shares outside Japan slid more than 3%, its steepest one-day decline since May 2020. The additional selling pressure came from Sino-U.S. trade relations after Katherine Tai, Biden’s top trade nominee, backed tariffs as a legitimate tool to counter China’s state-driven economic model.
25 February 2021
Dollar depressed, stocks steady after the Fed statement
Asian stocks proceeded to recovery following a sell-off witnessed on Wednesday after Powell said the Federal Reserve sees no sign inflation might rise out of control. The comments on inflation and maintaining ultra-loose monetary policy helped to ease fears that rising consumer prices might lead the central bank to raise interest rates sooner than later. The Shanghai Composite Index rose 0.5% and the Nikkei 225 in Tokyo gained 1.67%. The Hang Seng in Hong Kong advanced 1.75%. The Kospi in Seoul added 3.14% and Sydney’s S&P/ASX 200 was 0.83% higher. Now, investors are looking for Congress to approve President Joe Biden’s proposed economic aid plan.
17 February 2021
Sentiment turns sour amid rising bond yields
Asian stocks were mostly lower on Wednesday as profit-taking continued during the session. Japan’s benchmark Nikkei 225 dipped 0.58%, even as the vaccination began in the country. South Korea’s Kospi dropped nearly 1% and Australia’s S&P/ASX 200 slipped 0.46%. Hong Kong’s Hang Seng gained 1.10% as the index returned after long holidays. Chinese markets remain closed for a holiday.