Asia stocks climb back from heavy losses. Asian stocks on Thursday rebounded from the previous day’s sharp losses, with strong earnings from Australia’s Telstra Corp. helping lift Sydney shares, while those in Tokyo gained ahead of the Bank of Japan’s policy decision. After opening lower, Japan’s Nikkei Stock Average JP:NIK +0.81% climbed 0.6% in volatile trade, recouping some losses after a 4% plunge on Wednesday. Hong Kong’s Hang Seng Index rose 0.5%, Australia’s S&P/ASX 200 AU:XJO +0.72% advanced 0.4%, South Korea’s Kospi KR:SEU +0.51% added 0.3%, and the Shanghai Composite CN:SHCOMP -0.31% inched up 0.1%. The broad gains came in spite of a third straight day of losses on Wall Street amid uncertainty over the timing of the Federal Reserve’s widely expected reduction in monthly bond purchases. “Markets have moved into a ‘sell on the rumor, buy on the fact’ mode in the wake of the end of the U.S. [earnings reporting] season and rising concerns about U.S. Fed’s tapering,” said Perpetual head of investment research Matthew Sherwood. U.S. equity futures also edged higher during Asian stock trade, with those on the Dow Jones Industrial Average DJU3 +0.22% and the Standard & Poor’s 500 SPU3 +0.23% each adding 0.3%. In Tokyo, bargain buying after Wednesday’s steep losses propped up the market, even as the U.S. dollar USDJPY +0.3519% fell further to slide under the ¥97-level. Hong Kong’s Hang Seng Index rose 0.5%, Australia’s S&P/ASX 200 AU:XJO +0.72% advanced 0.4%, South Korea’s Kospi KR:SEU +0.51% added 0.3%, and the Shanghai Composite CN:SHCOMP -0.31% inched up 0.1%. The broad gains came in spite of a third straight day of losses on Wall Street amid uncertainty over the timing of the Federal Reserve’s widely expected reduction in monthly bond purchases. “Markets have moved into a ‘sell on the rumor, buy on the fact’ mode in the wake of the end of the U.S. [earnings reporting] season and rising concerns about U.S. Fed’s tapering,” said Perpetual head of investment research Matthew Sherwood. U.S. equity futures also edged higher during Asian stock trade, with those on the Dow Jones Industrial Average DJU3 +0.22% and the Standard & Poor’s 500 SPU3 +0.23% each adding 0.3%. In Tokyo, bargain buying after Wednesday’s steep losses propped up the market, even as the U.S. dollar USDJPY +0.3519% fell further to slide under the ¥97-level. Register here: ironfxsolidtradingindonesia.blogspot
Posted on: Thu, 08 Aug 2013 02:50:40 +0000
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