简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Asian stocks extend global rally to 7th day, U.S. stimulus in focus.
Asian stocks put global equities on course for a seventh day of gains on Friday as investors bet the U.S. will lead the world out of the COVID-19 pandemic, with the focus turning to a multi-trillion dollar spending boost by the Biden administration.
Tokyo led the advance, with the Nikkei (.N225) jumping 1.9% early in the session. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 0.3%, hitting its highest level this month, though Chinese blue chips (.CSI300) slipped 0.1% just after the open.
The MSCI world equity index (.MIWD00000PUS) added 0.1% to 709.71, nearing the all-time closing high of 710.36 set on May 7.
U.S. stocks were also poised for further gains after the S&P 500's (.SPX) 0.1% rise overnight, with futures pointing to a 0.3% increase at the open.
On Thursday, data showed the number of Americans filing new claims for unemployment benefits dropped to the lowest since mid-March 2020, with companies desperate for workers to meet surging demand unleashed by a rapidly reopening economy.
A separate report confirmed a 6.4% acceleration in the annualised rate of economic growth last quarter, bolstered by massive fiscal stimulus.
Although the scale of fiscal stimulus has stoked worries about an inflation spike forcing the Federal Reserve to act faster to taper asset purchases and tighten lending rates, more spending is good for world growth and global equities and has buoyed investor sentiment, said Kyle Rodda, a market analyst at IG in Melbourne.
“This is a market that‘s blown off a little bit of froth over the last three weeks, but there’s nothing thats occurred to suggest that the bull market in stocks is under any imminent threat,” he said.
“Maybe momentum has slowed down, and that could remain the case for a little while, but the bull market is still pretty strong.”
The Dow Jones Industrial Average (.DJI) rose 0.4%, while the Nasdaq Composite (.IXIC) slipped 0.3%.
The dollar hovered near a one-week high versus major peers as traders looked to the upcoming inflation report for direction.
The dollar index sat at 90.097 on Friday, after touching 90.179 the previous session for the first time since May 20.
Oil prices extended gains from Thursday, bolstered by strong U.S. economic data that offset investors' concerns about the potential for a rise in Iranian supplies.
Brent rose 20 cents, or 0.3%, to $69.66 a barrel, while U.S. West Texas Intermediate (WTI) crude added 34 cents, or 0.5%, to $67.19 a barrel.
- END -
Forex inside story, broker review, global insight - All in WikiFX. Download and enjoy it, NOW!
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
The Chinese government has taken measures to boost the stock market, yet the market still faces challenges, and investors should proceed with caution.
While the Stock market and the Forex market are two of the most significant components of the global financial system, interestingly, both are closely interconnected. It is no secret that stock market volatility can affect various aspects of the economy, but how does it affect Forex trading? Join us on this journey to learn how volatility in the stock market affects Forex trading and what forex traders can do to mitigate risks and seize opportunities!
While the Stock market and the Forex market are two of the most significant components of the global financial system, interestingly, both are closely interconnected. It is no secret that stock market volatility can affect various aspects of the economy, but how does it affect Forex trading? Join us on this journey to learn how volatility in the stock market affects Forex trading and what forex traders can do to mitigate risks and seize opportunities!
Strategists believe that global stock markets appear set on rising into 2021 - a year expected to see more opportunities than risks, attributed to the vaccine rollout and economic recovery.