Daily Dose, EU

Asia Stocks Rise as Fed Expectations Improve Attitude – Asia Market Wrap

Tuesday saw modest increases in Asian stocks, which followed Wall Street’s surge on expectations that the Federal Reserve will begin reducing interest rates this year. The yen fell.

A measure of regional stocks is poised to see its longest winning streak since February, bolstered by a surge in shares of Japanese, Korean, and Australian companies. As investors in Tokyo returned to work following a holiday, the Nikkei 225 surged by as much as 1.6%, but markets in Hong Kong and Shanghai fluctuated between gains and losses.

After Japan’s top currency official, Masato Kanda stated that if the market is operating properly, there is no need for government intervention, the yen declined.

Due to the dismal US jobs report, investors are reversing their bets on Fed policy, which is helping global equities markets. The onshore yuan is strengthening along with Chinese shares thanks to Beijing’s most recent supportive policy stance.