Asian Stocks Set to Advance, Adding to Record High: Markets Wrap

30-Jan-2018 Intellasia | Bloomberg | 6:00 AM Print This Post

A pedestrian walks past an electronic stock board outside a securities firm in Tokyo, Japan, on Wednesday, January 20, 2016. Japanese stocks plunged into a bear market amid a slump in equities across Asia as investor concerns over the global economic outlook outweighed technical signs that a China-fueled rout has gone too far. Photographer: Kiyoshi Ota

Asian equities looked poised to build on this year’s strong start that’s pushed the regional benchmark index to a record high as investors bet an expansion in corporate earnings won’t falter any time soon.

Futures signaled gains for stock markets in Japan, South Korea, Hong Kong and Australia on Monday after the S&P 500 Index surged on Friday to a fresh all-time high. The yen steadied after the Bank of Japan clarified comments from Governor Haruhiko Kuroda in Davos on Friday did not mean a change to its forecast.

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Investor focus is back on earnings and economic data this week after markets were roiled last week by protectionist rhetoric and conflicting positions on the dollar from US President Donald Trump and some of his top officials. The week will also include the final Federal Reserve meeting presided over by Chair Janet Yellen. The value of global equities has surpassed $60 trillion this year and government bond yields have rallied as investors assess the outlook for inflation alongside a gentle improvement in global economic growth.

Terminal users can read more in our markets blog.

Here are some important things to watch out for this week:

Earnings season sees some technology giants report, including: Alibaba Group Holding Ltd, Apple Inc., Facebook Inc. and Inc.

Federal Reserve policy makers gather for Chair Janet Yellen’s final meeting on interest rates before her term ends.

Bank of England Governor Mark Carney will speak before the UK Parliament’s Economic Affairs Committee in London Tuesday.

Gauges of Chinese manufacturing and services industries are due Wednesday.

GDP reports including India and Taiwan are due Wednesday.

US employers probably added more jobs in January than a month earlier, while the jobless rate held at an almost 17-year low and the pace of wage growth picked up from a year ago, economists forecast the government report will show Friday.

Donald Trump delivers his first State of the Union address on Tuesday.

These are the main moves in markets:


Futures on Japan’s Nikkei 225 Stock Average and Australia’s S&P/ASX 200 Index were 0.5 percent higher in late Friday trading.

Futures on Hong Kong’s Hang Seng Index rose 0.3 percent.

The S&P 500 Index climbed 1.2 percent Friday.


The yen slid 0.1 percent to 108.68 per dollar.

The Bloomberg Dollar Spot Index declined 0.3 percent on Friday, touching the lowest in more than three years.

The euro was flat at $1.2426, near the strongest in more than three years.

The pound lost 0.1 percent to $1.4140.


The yield on 10-year Treasuries advanced to 2.66 percent Friday.

Australia’s 10-year yield rose one basis point to 2.86 percent.


West Texas Intermediate crude gained 1 percent to $66.14 a barrel Friday, the highest in more than two years.

Gold advanced 0.1 percent to $1,349.12 an ounce.


Category: FinanceAsia

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